It is funny about SRN, when they said that they needed to obtain funding from the holders of the 0.9 cent shares and their price was trading at 0.3 cents, I posted that the share price would have to rise to 0.9 cents otherwise no one would take up the option.
Shares always gravitate to the capital raising price, whether that be up or down. It is only a pity that I did not take my own advice and load up. I missed an opportunity there.
I have now gone full time trading and given up my job in July this year. There were two reasons for taking the plunge.
The first reason was that I was not able to monitor my positions closely enough and I lost thousands of dollars over a few months, because of travelling. So I was working hard, but losing the equivalent of my monthly salary each month. I was literally working for nothing.
The second reason was that in 2015 I set up a separate account and started to track my trading wins and losses. This account has shown steady growth which is sufficient to provide an income if needed and separate to this I have saved 3 years living expenses held on deposit.
I was not going to spend the rest of my life wondering "what if", I am just going to jump in, being the best prepared I can be.
Here are my last four year stats. The equity curve is reasonably consistent, but I have about 13% locked up in illiquid assets, which are mostly stocks that are currently in suspension, that I can't divest. Some of them I have artificially written down the carrying value, but I need to find a way to deal with these.
I have now started to record the trade stats each month, rather than just annually.
This weekend I have been reviewing my previous exits from my winners and updated my trading plan with clear points to exit, rather than the discretionary approach I was using before.
I have literally left thousands on the table, because I exited too late in many cases, hopefully this year I can make an improvement to my statistics and not blow my account.
What I am loving thus far, is not having to drive 3 hours per day to go to the office, I was so over it.
(20min delay)