Originally posted by babysteps
Agree. I really feel like if you are smart with your decisions when the market pulls back now is a good time to choose your stocks wisely and accumulate over time when others are pulling out. It's time for some bargain hunting for me in stocks that were overbought.
Not day trades I love those when they pump but opportunities to accumulate slowly for stuff that will play out later.
I honestly think its stand back with your cash time and play the hot runners as daytrades and maybe overnighters but this is just my opinion.
After the GFC a lot of shares were trading below cash value. That's the time for bargain hunting
If you saw the GFC you'd be very cautious right now like Endless and Highland Lad. I think its fair to say their trading styles
are a bit born out of having survived crashes. Look at AMP this week, no such thing as a blue chip in a proper crash and this one
is not even proper yet. Grasp this one point and it could save you a lot of grief - Good shares get sold to pay for margin calls
and bad shares. You don't want to get on the wrong side of the pros. You can get mauled. IMO.
Sorry if I'm sounding a bit scary but a large part of share trading is avoiding beltings that leave you not being
able to think straight. I know you are mostly in cash, be careful you don't deploy it too early. In a falling market its value rises every day.
There's a generation of traders who haven't seen a crash. I'm not trying to give you financial advice just trying to make you aware
that things can get a lot worse before they get better.
