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Closed out my 1st trade today for a profit!!!

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M

mattryanshares

Joined
11 December 2010
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Got a few others that im holding long term but thought I'd take a punt on SBL from the brakeout thread!
Bought at .034 sold at .036 with about 2000 clicks of the refresh button as i only have a comsec account and no wiz bang program.

Made a small profit of $245 small change but alot of fun.!!!!
 

Well done mate!
 
Mate

While I know your excited at pulling a profit.
You had a punt.
In this game punting will cost you BIG TIME.

Learn about Position sizing
Risk management and undertstand trading 1 stock at a time is
going to lead you to drink.

Trading a portfolio correctly will ensure steady life long profits if you can develop a trading method witha distinct edge.

Its not that difficult if you keep it simple.
 
tech/a said:
Trading a portfolio correctly will ensure steady life long profits if you can develop a trading method witha distinct edge.

Its not that difficult if you keep it simple.
Click to expand...

Hello tech/a,

Regularly read your posts and find them very informative.
( Always click on when I see the duck ).
Have actually learnt a lot of stuff, particularly from your posts about how to read volumes.
Intrigued by your comment that it's not difficult to make profits if you keep it simple.
Don't know about that. Have been trading, short to medium term for years, and never found it simple ?
Always more to learn.
 

nice work Matt
 
Congratulations! Well done! Good luck with your next trades
 
Congrats Matt, Always good to get the first one under your belt. Hope your having fun?
Just string another 9 together, and you have yourself a WINNING STREAK!

For the record my best was 372 winners in a row, waaay back in the 1990's, whilst working for a brokerage company. As a private trader I haven't been able to beat that since, but I'll die trying
 
hey Thanks all.

Yes it was a punt but thats sort of what it was meant to be? I didnt have a lot of faith in the stock but looking at volume and the pre open i thought it worth the risk.

i actually wanted to see how it felt to put faith in human nature, the heard as opposed to the though of long term gains.
I dont mean disrespect to anyone buy that comment just how i was feeling at the time.

I admit i was lucky and would be easy to get caught up. Now more study!!!
 
Matt, well done on taking a profit.

Just one question: how will you know when it's time to take a loss?
 
Julia said:
Matt, well done on taking a profit.

Just one question: how will you know when it's time to take a loss?
Click to expand...


Along with what is your strategy and have you tested it to death to see where it succeeds and fails?
 
Nice work matt...easy isn't it, now do that another 20 times and imagine how cocky you will feel then.
 
Congrats mate, but I hope the win doesn't affect your objective mentality too much. People who win on their first go come off thinking it's easier than it actually is, whereas people who lose on their first punt get much more cautious and appreciate the risks that much more.
 

That's very true. The little mistakes I made last year in my first year of trading have made me much more cautious and aware of the risks involved.

Learn to cut your losses no matter how hard it will be to realise the loss.
 
2nd ever closed out trade up $4492. Two from two!!!

Im now 2 from 2.

Bought 140000 Pen for an average price of .103 and sold today for .135
 
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