WA1 4.97% $17.41 wa1 resources ltd

I'd recommend all of them, then waste a few thousand dollars on...

  1. 8,682 Posts.
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    I'd recommend all of them, then waste a few thousand dollars on trying all the best looking systems, chart patterns or whatever, using the minimum marketable parcel possible, so that in your own brain you fully understand that this is not an easy game and nothing works all the time. Especially on whatever method really appeals to you, and you've convinced yourself it is the way to riches. (bet really small on this!! CFDs $10-100 bucks a pop if possible). Bet just enough to hurt when it loses money, but not enough to sink you...

    The worst thing to happen is to make lots of money early on, you start to think "this is easy" , then bet too big and get yourself into trouble. I know of lots of people this has happened to, who don't go near the market anymore.

    The books I'd recommend the most, are the Market Wizards series by Jack Schwager, all of them. There is not a 'method' that should be followed in any of them. You should re-read them every couple of years as you gain experience. The most important lesson for me was .. You need chips to play, if you lose all your chips, you can't play..

    If you are interested in mining/exploration, which is why you are on these threads, learn geology, learn sales techniques, grab some of your own tenements and do some rock licking, while spending the cash on it. Get to know the industry that you are buying into.

    Go and meet the people that want you to invest in their company. A friend of mine a few years ago now, went on a couple of weeks holiday every year to Perth, where he walked from one junior company to the next talking to all the MDs of the juniors he could find. He learnt lots, mostly about 'other' companies, as in other than the MD he was talking to. You'll learn to see the signs quick enough.

    My point is you can't buy experience from a book, but you do need to know what they are talking about. Education is part of the game, so is thinking outside the square, so is staying in the game. Get too many losses and/or a large losing position and it affects your psyche in other investments.
    Following lots of different patterns and losing cash overall is buying experience. Never get married to a stock, method, company. Only experience will tell you when to take extreme profits, the hardest part of the game. Taking losses should always be easy. When something goes completely against your thinking of what should be happening, it's your thinking that's wrong, not the market. I always have way more losers than winners. When in doubt get out, then re look at the stock, you can always buy back in, after looking at it with a clear head when your not in it.

    I make mistakes all the time, so I'm prepared to do way more research on some stocks than most would think necessary. I spent 5 solid, 15 hour days in a row researching one company a few years back, because I couldn't make head or tail of exactly what they had, despite many great announcements of high grade mineralisation. (I'd sold at a small profit, and was out, when I did this).
    I had to put 5 years worth of announcements together with drill traces, working out the trigonometry of each hole, to eventually work out the supposed 'really good' resource they were working on, were the same small pods of mineralisation drilled often a year or more apart, from slightly different angles and most declared 'great discoveries' by the company in question. It was all BS, of which West Perth has spades. I did the work necessary to find out what I was missing..

    Basically making money consistently from the market takes decades of hard work and experience. You can only gain experience by doing and persisting. The education comes from reading everything you can on the topic/subject.
 
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Last
$17.41
Change
-0.910(4.97%)
Mkt cap ! $1.067B
Open High Low Value Volume
$18.10 $18.25 $17.40 $5.157M 291.6K

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No. Vol. Price($)
4 3568 $17.40
 

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Price($) Vol. No.
$17.56 300 1
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Last trade - 16.10pm 02/05/2024 (20 minute delay) ?
Last
$17.43
  Change
-0.910 ( 4.89 %)
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$18.12 $18.12 $17.41 12626
Last updated 15.59pm 02/05/2024 ?
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