viphar's qna session with ipod and palz, page-85

Thanks Vibe and Archer.

So many lessons are learnt through errors. If ppl can grasp the fact that the buying is the EASY bit and the selling is the HARD bit, they will at the very least do well.

On a daytrading basis, you should always know IF on probability you can sell for a profit BEFORE you buy. It's a double edged sword as you often undersell, but you also stop quicker and move your focus to other areas of the main business (ASX) and you make a small profit. On close today for example I picked up 200K NSL at 3.2. If you look at the depth you will see that at the very least I will stop my order at 3.2 (bid side is 3+ million at 3.2) and the chances of getting 3.3 or 3.4 are very high based on recent volume. (there were no sellers at 3.3 and only 250K at 3.4), so on probability this should be a profitable trade, even if the market tanks slightly. I know its small, but they add up like bricks in a home. Having a comfortable entry has saved my bacon many times and although it's cost me some runners, such is life.

Thanks again for reading.

iPod
BUS DRIVER