LNG (ASX) LNG Grinding Away

Originally posted by possum2 ↑

Anitak,

I purchased them yesterday when the big seller of 500,000 shares was scaring the market in LNG at 2.14.

I sold them this morning at 2.20.

As much as we get annoyed when investors do silly things like what we witnessed yesterday it can create an opportunity.

If the story hasn't changed then why not buy a few at a heavily discounted price to the previous day. LNG had been trading above 2.30. So 2.13 seemed a reasonable price to pay.

This person gave everyone the opportunity to buy cheap stock. As it turned out, the opportunity to sell was this morning. I was hoping it was going to be yesterday afternoon after he got taken, but it did not eventuate. That meant I had to carry the risk overnight which is not my preferred option.

I try to make about $500 per day on various trades, whether it be LNG or any other opportunity that presents itself. It's not that hard and given that I am sitting in front of my computor screen for 90%of the day I must make it worth my while otherwise I might as well go to the beach.

If you can do this successfully on a daily basis you will provide yourself with an income of about 2500 per week.

52 weeks of the year and you will earn 130,000. Not too shabby.

I purchased 100,00, SBM with the price of gold going up last night. Bought them at 21c on the opening and straight away put them on at 21.5c. I could have got 22c but was happy to make my 500 dollars for the day.

The trick is to not get carried away after making the 500 dollars profit because if you trade again you undo the good work. So don't push your luck. Keep it to one trade and be strong enough to walk away and just observe for the remainder of the day incase something appears to be a screaming buy where you feel 80% confident you will be successful.

Develop good habits, be disciplined and you can earn a good living sitting at home in the comfort of your own study. I drove for over 15 years into the city down the Monash Freeway. What a night mare that was.

Good luck with your trading Anitak..

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Uh Oh. Bought at $2.14 and sold at $2.20. There's lack of confidence for you!