Merry Xmas to all
I have a small modest amount of $10k put aside which I intend to trade with once the market re-opens in January.
Have lurked here a while reading all the different threads and it seems that caution and money management are important in this difficult game.
Have read several books about past traders ... Guppy, Elder etc which were quite fascinating so I have a slight basic knowledge about how the stock market works ... The fund managers with big bucks run the show and the small fry (us) get screwed if not careful.
With this in mind , and wanting to stay around for 1 year at least I am leaning towards the "buy and hold" strategy in reasonably priced stocks which have upside potential.
It seems from my limited understanding that the resource sector is the way to go .. should be bouyant for a few more years.
From reading reports etc.. I thought i would allocate my 10K thus ...
10,000 PNA aroun 32c, already have a Gold mine generating profit in Laos and a big copper project to come on line within a year, so potential there for upside in the next 6 months the closer they get to the Copper part
4000 MAH around 85c... in same sector, was a 5c stock many years ago with upside still with many millions in conntracts ... I am not to sure about that one ???
50,000 RTM a penny dreadful which might do something this year ? only noticed this one becuse it doubled in price last month from 2.4c to 4.9c high before retreating... mining explorer uranium etc ... Is slowly rtreating so might pick up around 3c for small risk only .. one never knows.
So that will leave me around $2000 cash to either top up if one of the above has an upside or posisibly something else ...
I know that $10k is way to low for seriuos trading but its all I am prepared to risk until I gain more knowledge of how this caper works.
From all I have read it seems that a very low percentage make money from the stockmarket.
Any comments , guidence , especially about my picks greatly appreciated
Thank you all , Merry Xmas