STUPIDITY and the market punters ..... to the newb, page-9

Since turbiditic raises the example of GTP and since this is one of my researched stocks I can't resist commenting on this sad view of stock market investing that is being put forward.

Whether you have or not, it SOUNDS as if you have had a run of outs which is a shame but your description of the losses to be made from GTP and how it "didn't work out" sounds defeatist and resigned.

Yes, anyone that buys on the peak of each run will lose money, many people do buy then, that is why volume usually peaks when prices peak and is also WHY prices peak.

The first place to go I suggest in successful trading is to study crowd psychology. it is the actions of crowds that are measured by Fibonnacci - indeed its why I like it so much and have found it remarkably accurate - not always - but more often than not.

As many here will attest I and others have regularly used it to pick price falls to within a cent - sometimes weeks in advance (in the case of RMG months in advance for a fall from then 18c to 3.5c).

And what is the advantage of this ? Well for one thing I never buy at a peak anymore. As frustrating as it is to watch a stock like CMQ skyrocket and not be on board I know that I will not be the one paying a price - maybe tomorrow? - that the stock never sees again. Taking CMQ as an example...if today was another peak, and I wanted to buy this stock my buy order would be sitting in the market at around $2.80. Maybe I have to wait a month to get it but the stockmarket is "A system for transfering wealth from the impatient to the patient" quote unquote.

So I first called GTP as a buy back in Sept/Oct last year at 50/60c. Sure it got to $1.32 but you wouldn't have been a buyer there if you were a Fib trader!!!

Sure it fell again to 52c but it did sort of have that 30c dividend by that time remember? So if you bought prior to the dividend announcement then you had still done OK.

Then the 52c bottom in July and RR's rumoured visit had to be one of the more prominent discussions on this forum for a while so if you bought you would have had lots of opportunity to sell all the way to 71c. Even if you missed that I have been posting the fibonnacci retracement of 60/61c since 68c ?

So am I special ? Absolutely NOT!! I have just spent heaps of time getting to know a couple of systems very well.

I suspect the problem is that some fairly slack people get attracted to trading and don't think it will take any work. BULLSH!T!! It takes heaps of work to be successful.

But it is extremely easy to lose.

Cheers turbiditic,