Hi Realist, your posts always catch my attention, so Ive gone through most of your posts in history, and how the trader is compared to the investor.
I totally agree with your strategy.
Im fairly new to the stock market about 1.5yrs. Anyway for my first year holding ANZ, TEN, and GOLD i was up around the 10 to 13% mark, which seems great. But I always looked at my ANZ showing around 6% return for first 9months or so, and I said to myself this pathetic as I compared it to some of the guys on this board showing more than 20-50% on speculative and start up mining companies.
So what did I do, I sold the lot, knowing I shouldnt really do it, and bought Uranium companies, UXA, URA, UXN, and a biotech NAL.
I sold my bread and butter stocks and went invested (traded) what seemed to be like cocaine, getting the highs quickly and now. Analysing charts and breakouts, and other crap is fine if you got the time. I messed around with some other small caps under 10c aswell.
I managed to take profits on most trades, and some losses, but what gets me most, is the freaking brokerage at 20+ trades at 30bucks a pop equates to close $600.
So today after UXA came out with dissapointing results, I sell it for a loss and now hold UXN, URA, NAL.
Im not after advice, but would like hear from you how long you would hold onto a stock that you think is most likely going downhill. Do you sell?
One of your posts said you only sold 1 stock. So when would you sell at all? When you need the cash to buy something, car, house, retire, whatever?
So after my little adventure in the world of trading, ive decided id like to get back to the fundamentals, and stick with solid companies and dividends with a long term outlook.
This is just my story, and not looking to prove anyone wrong.