FMG 0.45% $22.10 fortescue ltd

fmg buyers are dropping off, page-28

  1. 494 Posts.
    lightbulb Created with Sketch. 9
    So far I have been using technically analysis
    I trade daily
    Today I shorted at 5.01 and bought back at 4.90 in the morning
    Then 4.90 in the afternoon and bought back at 4.86 after market
    I usually wait for pivot points establish themselves in the morning
    They were at 5.04, 4.97, 4.88 and next 4.82
    These change daily so most of the time I just take my profits as you never know what happens overnight in the US
    For example I took my profit on close the day before at 4.92 then the next day it shoots up to 5.04 if I stayed in I would of been unhappy. So it good to take profit when the opportunity arises because this market is a crazy game and in the long term you make money were long term shareholders end up losing. I was one of those. Now I have learnt my lesson from that
 
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