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Morning Trading July 24, page-135

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gus66

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24/07/23

11:42

Post #: 68943739
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Originally posted by Endless: ↑

OK. A quick rant.

I do have sympathy for newbies coming into the market atm. DTing doesn't look like such an obvious strategy these days. You shouda been here 5 - 10 years ago!

It used to be there'd be 2 -3 DTing opps every day and 3 -5 baggers in a couple of hours wasn't unusual.

Things are a LOT harder these days but the principle is still the same.

1. Most speccys are BS and run by smarties to pump the SPs. That's what we trade. Take a very cynical but rational view of anncmnts.

2. LT holds are great for 2% - 3% of the stocks on the ASX. But it's hit and miss to pick the right ones. And low odds.

3. The chart still rules. Sell oversold stocks and buy underbought or falling stocks that get a re-rate. Takes a bit of experience to figure it all out but follow the money and chart and you're halfway there. These days you do need to be patient. There's not that many good trades around.

I've just had a glance at the CXO thread. Be patient they say. Nah. Sell at $2 and then watch for the lows. That's the DTer way. With so many lithium projects there's no way the lithium price would stay high.

If you look at the most discussed stocks you'll see the punters are still following stocks like ADO that has been a dog for over ten years. The punters just can't let them go. The smarties are well aware and play the mugs like a violin. MAY anyone?

Learn to play the violin.

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Great post Endless but Speaking of MAY..........10.5 getting taken
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Morning Trading July 24, page-135

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Morning Trading July 24, page-135

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