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BSL - Bluescope Steel

Discussion in 'Stocks 0-H' started by JetDollars, Jul 8, 2004.

  1. qldfrog

    qldfrog

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    @peter2 , on a stock so easily affected by a Trump speech or a BOC decision, do you take this into account or do you purely look at it from a pure chartist point of view? Not bothering if it produces steel in Australia, could be selling sushi in Norway who cares attitude?
    This is where i find it very difficult when i try to add a non systemic input....
     
    sptrawler likes this.
  2. peter2

    peter2

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    I tend to not worry about outside interference when trading weekly charts as the aim is to hold for the medium term and the iSL are usually well outside the normal volatility level. It concerns me when I'm trading very short term, but there's nothing I can do about it. I just have to take the good and the bad.

    Yes, I do form an opinion on an industry and company. This is generally a bad thing. It's saved me on many occasions but I've also passed on setups that have turned into monster trends.

    I remind myself that my job is to start trades at the best time and price that are defined by my strategies. If I'd bought BSL at the BO at 13.20 I won't be concerned by Trump now that the price is at 15.00. Buying now at 15.00 is much more risky than at 13.20. We're closer the the end of the trend.
     
    qldfrog, debtfree and sptrawler like this.
  3. sptrawler

    sptrawler

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