I actually think I have performed poorly and I am sure MANY have done better than I have, but I doubt they will admit it.
Just look at that recent article on FTD which turned $2m into tens of millions in a year or two.
I am not a TA trader. These graphs should prove that!
I used to *think* I was a FA trader on small caps until I got cleaned out in so many ASX scams that I regard most companies with disdain.
Now I am just a gut trader based on a access to timely price/volume data and some cursory info gathered from cashflow, income and balance sheet statements.
When I started off I had over 70 stocks, but I have gutted that over the last two years to under a dozen at any one time. I have 98% of my assets in the market at all times, and this is why I was caned on the way down. Fortunately I was all in the dogs anyway during the decline, so I dumped them near the lows for at 80-90% losses and moved to 'better quality' companies like the REITS and miners with good underlying projects backing them that were also down 80-90%. There was a bit of gambling involved there as I was buying REITS just as they were all put on sells by the analysts, and most of my shares came from the likes of UBS and CFS dumping at any price.
On an ongoing basis I try to determine the best stock for the next x weeks, and move cash to those stocks where possible. And I think I actually need to move up to around 20 stocks for this to work effectively.
Yes do a lot of averaging down if I think I understand the company. This has variable results. Obviously not working with CAV or KEY, the latter of which is a surprise.
Technology wise I have my own excel spreadsheet fed by live Iress data and coded up by myself to flag things that I might want to trade *if* it is timeous to extricate cash from another investment.
But I am just a mug punter, evidenced by the number of times I get caught in ASX listed scams. Hence my question on the other thread about directors who have a track record of delivery.
