couldn't resist aka:
"It also conditions you to lose money and average down and throw good money after bad trying to catch a falling knife
2 years ago Jan 2011 PLV hit $1.34"
I averaged down plenty of times during the GFC: a downtrend that lasted quite some time. If you're smart about the way that you average down, you don't run out of money, you end up with a good average price and make a packet on the way back up. This requires discipline and sticking to a well defined buy strategy.
Let's take MGX as an example from my own book. Think I originally paid around the $2 mark, averaged down a few times over the big crash, my average price in the end was just below 40c. Sold them for about $2 a year or so ago. Made a tidy profit, no chart required. Maybe I could have done better with T/A but I'm pretty comfortable just having balls of steel (that's for you mtl999) and a long-term view and picking stocks based on fundamentals ;-)
- Forums
- ASX - By Stock
- ta charts
couldn't resist aka:"It also conditions you to lose money and...
-
-
- There are more pages in this discussion • 45 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add PLV (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
1CG
ONE CLICK GROUP LIMITED
Mark Waller, MD
Mark Waller
MD
Previous Video
Next Video
SPONSORED BY The Market Online