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$23.35 newcrest mining limited

Bik, I would never use margins. period. You had conviction,...

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JAJO

322 Posts.

03/01/17

00:01

Post #: 21642461
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Originally posted by Bik ↑

Hi, just wanted to share my trading experience with NCM. When I saw NCM trading below $20, i started buying NCM from my CFD account. I felt very confident that NCM was oversold and would rebound. So I loaded up as the price continued downwards on large margins. I basically used up every cent of margin I had to put on some massive positions. Then, when interest rates were raised in the US NCM crashed and all of my positions were stopped out and my trading balance wiped out. Then 2 days later NCM bottomed and has risen nicely since then. I would have bought NCM after the fall but I had no funds left so I was left to berate myself for over committing. I know this example highlights a multitude of trading errors. I was just wondering if anyone has made similar mistakes and some techniques they used to overcome them. By the way, I think NCM is still oversold but it might base out a bit after rising quickly from it's lows.

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Bik, I would never use margins. period. You had conviction, bought the right stock, and mistimed the bottom. No big deal if you were holding the stock only.

NCM Price at posting: $20.25 Sentiment: Hold Disclosure: Not Held
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