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Think Cxo release today would put the Cxooa back in the money...

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29/08/17

22:29

Post #: 26850009
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Originally posted by forrestfield ↑

thanks FH you have been extremely kind. I completely agree with what you saying... Honestly speaking I get it wrong quite often but I get it right at times as well.
For example, DTZ, LSH, PAK to name a few has seriously done the damage for me. My losses on these three plus slides of most gains in IAMOA and CXOOA has not helped either. I was in massive profits in all of the above with decent size positions for a guy like me.

The point is I get it wrong quite often. So what keeps me going? Constant research, my passion for shares and I love what I do... I just keep bouncing back and every time I bounce back I learn and try to improve... avoid the same things I have done wrong previously and promise myself to stick with the strategy.
At the end of the day it comes to research and hard work IMO... and then following the strategy which I have created based on simple rules... really simple and small things which I have shared here many times before...
I have learned over the years, if I buy something at a low price when and where it makes sense the chance of losing money is relative low vs making money. I just have to follow my strategy more rigidly and stick with what I know... I change it I lose regardless of the research I do... there are simply many factors in the market unknown to me so if I enter into a zone which is not familiar I am in a danger zone and trust me danger zone is not a good place for anyone. Thats why I try to keep myself in a small comfortable zone where chances of me being wrong are smaller... by saying this being wrong is yet very possible... However the success and failure is relative close to each other following a strict strategy. Here a successful trade generates 1-5 bags while a bad trade generates 10- 50% loss... End result though is great... therefore following strategy works for me.
Now that particular shell (MNE) which I am holding for 18 months had one failed acquisition. Dan Fraser owns 19% of the company, Peter Wall 8%, Winton Willesse 8% so thats like 36% owned by 3 people. Top 6 owns 50% as per my calculations. This means a half decent acquisition might do really well. This makes me holding as I can't find a better shell with tighter structure. In other words I think this thing still has hope lol... I won't compain if it makes me 2 bags from here and if it does not I will take it as a learning curve... Its easy to blame learning when you made a mess lol...

Anyway, coming back to the point... I would say avoiding bad trades is impossible. What matters how you cope with them? How you use your mistakes to make your future trades better? And how you control your emotions to avoid being rich over night?

Once again thanks for the kind words.

Cheers

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Think Cxo release today would put the Cxooa back in the money for you (unless you sold last Friday) best of luck as you are one of the sincere posters in hot copper.
Warm regards,
S
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