Yes, I know - cut your losses and let your winners run.....
It sounds easy, and I'm happy to say that I have done it on other stocks but for some damn reason I couldn't get that in my head with OZL.
I got burnt a little with ZFX and stubbonly didn't want it's problem child OZL to do the same.
I have held through what should have been stops, I've pyramided, I've averaged down and all the other bad things - but I think I'm getting there.
My research on OZL has me confident that my fun with trading shouldn't char off too much skin, but if I need a smack in the head to set me right - then feel free with your comments.....
First image shows the trades - showing a gain of $1,680.34 gain (inc Div)
Second image is current position - showing an 11.2% loss or $3,269.34
Figures include brokerage
What I am doing is is entering at around each $0.05 fall and then sell off a larger parcel each recovery - taking a miniscule profit each time and offsetting the larger portion to my highest cot parcel.
My initial average was $1.97, my current average is $1.1937. As the cycles continue, I should be able to continually pull my average down and increase the profits.
Does this sound in any way like a valid trading system ?
Does anyone else trade this way, or am I on my own???