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clock Created with Sketch. 27/08/14
21:32
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Originally posted by vorzaw
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PSY has been an amazing lesson in trading/investing for me. I am not a big investor by any stretch. To give you an indication, I bought my largest ever parcel, 100k shares in PSI a couple of weeks ago at 10c. Since that time I have bought and sold for one or two pips, expecting the stock to retrace. Each time I have ended up chasing the stock higher and reducing my holding based on having to pay higher prices. I bought again yesterday and sold this morning at 25c only to buy back in again at a higher price. I have calculated that in total I have made about $4500. Dont get me wrong, I am happy with a profit, but my initial reason for buying was based on a belief in this incredible technology, the research underpinning it and the management team in place to commercialize it effectively. Three big ticks. Had I had the fortitude to hold and listen to the likes of the long termers, today this investment would have represented my first ever 2-bagger or 20k profit.
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You're saying this because PSY has gone up. If it has gone down you would be saying lucky I closed my position when I was up. The truth is anything can happen and for us it is fortunate that PSY has done so well. Will it stay there? I hope so, even higher
