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Thanks for sharing Milesy and Fid, I too enjoy reading people's...

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nevermindthebuzzards

283 Posts.

14/10/16

21:27

Post #: 19875746
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Originally posted by milesy ↑

Thanks Fid for the response.

I would never disagree with anyone's methods. I think everyone has their unique style that reflects their experience and personality.

The market is a beast that takes no prisoners when it wants, and preserving capital, balanced with being profitable over a long period of time is really the only measure of success.

I am far less of a technical trader now. I used to swear by charts, but now they are just a small part of my overall approach.

I try to get to know maybe 15 companies really well and take a position when something abnormal is about to happen. And I trade far less, preferring to go in big on a few medium term holds rather than trade multiple times, winning in 10 then having one big loss that takes away all my smaller profits. I dont hold more than 2 or 3 specs at any one time. I sell if any of my reasons to buy in change, or do not meet expectations. I hold or average up if things are going as expected.

For example, I went in big in SGH after the banks said they would back them, but traded out with a small profit once the last financial report didn't meet my expectations. I waited patiently for S2R, jumping on them at 44c and again at 37c when the shareprice plunged after announcing bad gold drilling results, knowing they have possible company making drilling to take place in Sweden this month. I also got in BOT on the re-listing at 2c having thoroughly research the new tech, but mainly based on the prior success of management in similar situations. I still hold good size parcels of both.

The main criteria is that companies have cash in the bank to ride out short term issues, and that they have possible company making announcements in the relatively near future.

PSY nearly fits the bill. That is why I watch them daily and follow them closely, even emailing management on a number of occasions. My main concern is the tech not being ready before cash becomes an issue. That is why I sold out at a small loss at around 10c after that last 'market update'. But I really like the look of them at this market cap. They could easily do a BRN type run on the sniff of a commercial deal. I fight the FOMO with them daily, but I'll see how the next month or two pan out.

Sorry for rambling. Friday arvo reflection time. Good luck with your trading.

Milesy

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Thanks for sharing Milesy and Fid, I too enjoy reading people's strategies- always something to be learned. Milesy I've seen you around and your posts generally seem logical and well balanced. Hope your both back on board soon and ready to make some cash
In the meantime all the best

PSY Price at posting: 8.9¢ Sentiment: Buy Disclosure: Held
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Thanks for sharing Milesy and Fid, I too enjoy reading people's...

Red Hill Minerals Signs $6.5 Million Agreement with Peel Mining to Explore Curnamona Project, NSW

The Big Deal: Free-to-air TV swings the axe, but will it be enough as enormous sports deal bills loom?

KGL sniffs 19% Cu from drilling at Rockface play in NT

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Leo Lithium announces major divestment of flagship Goulamina project to Ganfeng

Climate change to drive market trends to the moon

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Thanks for sharing Milesy and Fid, I too enjoy reading people's...

Top Stories

Red Hill Minerals Signs $6.5 Million Agreement with Peel Mining to Explore Curnamona Project, NSW

The Big Deal: Free-to-air TV swings the axe, but will it be enough as enormous sports deal bills loom?

KGL sniffs 19% Cu from drilling at Rockface play in NT

Fast-track assaying yields 182 g/t gold for iTech at new NT play

Saturn’s stars have aligned for the gold explorer’s Apollo Project

Leo Lithium announces major divestment of flagship Goulamina project to Ganfeng

Climate change to drive market trends to the moon

Tivan and EARTH AI gear up to commence fresh drilling at Sandover lead-silver project, NT

Has uranium run out of steam? An update on nuclear markets & developments ahead in FY25

Week 27 Wrap: "Election year" is here as UK Labour win contrasts France; Trump wins immunity & annual report season hushes ASX

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Sellers (Offers)

Featured News