- 20 July 2021
but a 'ten -bagger ' cancels 8 losers and you still have a profit
Commsec seems to think otherwise , although sometimes i jump out too early and miss the extra gains ( like BCT )But if you don't get that 10 bagger I figure you are a 9 time loser
if my math is correct?
I believe it is all about Technical verses Technical
DTL ( up 600%) and KPG ( up 350% ) and CLV ( up 300% )
not so much 'trading' as looking in unloved ( at the time ) sectors or unloved stocks in popular sectors@divs4ever, I admire your trading skills and results. My highest closed profit percentage is nowhere near your lowest one.
Open and closed profits are different
Open profits can change or vanish, closed profits are yours to keep. This mindset can help you deal with volatility, which can create large swings and uncertainty in the market. Volatility can be a source of both risk and reward, depending on how you handle it.
“Open profits belong to the market, closed profits belong to you”.
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NB: I don't do Unloved Stocks !!!!not so much 'trading' as looking in unloved ( at the time ) sectors or unloved stocks in popular sectors
take the 'tech stocks'i did nicely on i had a hobby with computers and prefer the hardware side of things ( so am amazed how many shifted to 'cloud ' and abandoned any hope of security ) so veered towards hardware/services providers , now 'cloud' is the craze , i veer new money into REITs that focus on industrial sheds ( they will eventually wake up they DON'T need all that fancy flooring and air-refrigeration ( thanks EB games for that lesson ) any highly secure shed with power will do .
outside of that i had some 'grey nomad'friends ( not the ASF member with that NIC ) and they traveled their last days ( both are now deceased) along the East Coast of Australia and declared in fundamentally stuffed ( since they were retired tradesmen ( and business owners) i took that as a tip , in 2012 i had some stuff to do interstate and had a look myself ( NSW , ACT , SA and WA ) now SA had it's possibilities , but WA at the time had all the growth potential , so spotted some WA based stocks ( FWD being the dud ) and also came across some WA focused LICs ( WIC and it's stable mate ) and that went fairly well
half my success ( apart from sheer luck ) is looking and thinking , you go into Bunnings as a BWP /WES shareholder ( part owner ) and LOOK , what is staff morale like , what are the shelves like ( full, messy , half-empty ) is the site old and in need of maintenance , etc. etc etc , shopping/visiting the business ( outside of AGMs ) can tell you much ( that doesn't make the presentation brochure )
got to see the 'closed door parts of TPG when David Teoh ran things , and it looked tight and efficient ( so i bought some shares ) when David left i sold ( at a nice profit ) but kept the TUA entitlement and bought some more with the TPG profits ( the Australian telco regulator is a minefield of problems , no more Aussie telcos for me , i hold SPK and TUA )
As by your own declaration that you do not spend ONE Cent on paid Datayes , i jokingly call it my super-power
that art is to know when to take SOME profit along the way
correct , but have only been interested in shares since very late 2010As by your own declaration that you do not spend ONE Cent on paid Data
You must be very rich saving all those expenses over the decades?
'nuf saidcorrect , but have only been interested in shares since very late 2010
all those 'savings assume i was well-paid in my working life , now occasionally that was so , and sometimes a job would have a nice side-hustle ( listen to the trots/dogs while working in a factory , and punting with reasonable success ) stuff like that
but mostly just got used to living within my means and not using credit cards
for instance 'my trusty calculator ' was a solar-powered pocket calculator a relic from my high school days ( bought with my paper-round money ( i still use it to triple-check any math before buying/selling shares )
much more lucky than genius , but don't get too frustrated sometimes the luck goes the other way , i have plenty of ( physical and financial ) scars to show for that'nuf said
You are a Genius!
I only wish I was so LUCKY!
Mr @Skate and other fellow trend systems builder will be interested in the priceactionlab link above
bought a small position last week when it was running at 38$ , oil price seems to have recovered back above 91$ now but why is woodside getting sold down? Is some major shareholder selling out or just the ex-dividend effect?
in my opinion ABSOLUTELY, ( agree ). I'm sure @divs4ever and @Captain_Chaza would be in agreeance that "there is no one-size-fits-all answer to this question", and the best approach will depend on you.
Hi Skate....It's the question that irritates us the most - When do we buy and when do we sell?
It's a question that may irritate us, but with a clear strategy, we can all make informed decisions to achieve success in the markets. The decision to buy or sell a position is based on various factors, including market conditions, trends, risk tolerance, or simply a personal decision based on other metrics. I'm sure @divs4ever and @Captain_Chaza would be in agreeance that "there is no one-size-fits-all answer to this question", and the best approach will depend on you.
I gave you a sad face because I don't know what you are trying to say@divs4ever, to save clogging "Duc's thread" let me give you an example in the "Dump it here" thread. The most common question I get asked is when to buy and rarely "when to sell".
There was good banter in the WDS thread and I'll use this company as an example.
Buying good companies is the name of the game but buy them too early or too late in the cycle and you'll be in for a great deal of pain.
now selling :-
first my initial aim in buying is to hold SOME 'forever ' ( however circumstance may change that )
normally , a successful selection will climb to a 140 to 150% gain and i start thinking .. 'should i take the cash risk out ( i do not do this everything but say 85% of the time ) so i aim to sell 40% of the holding to cover the cash investment and other costs and keep 60% ( letting the winner run )
but what about the mediocre ones ?
sometimes i will decide a business is taking a turn i don't like ( BLD , CTX , ORG as examples ) check i am running in some profit .. and kick them out the door ( WBC i messed up the timing of that kick ) , with IPL , they entered into an agreement with CTP ( a stock i was learning a lot from , and not good things ) and bang they were gone , the profit was almost accidental
now weird examples .. a fair while back i bought some BKL ( Blackmores ) as 'a bottom drawer ' stock say around $25 and then despite expectations it took off even pushing into the to 200 , so i am looking at this farcically over-priced stock ( ex-div. to boot ) and thinking this madness has to end , sometime and the WES ( cum. div ) caught me eye so grabbed out the calculator crunched some numbers and realized i could swap each BKL for ( roughly ) 3.1 WES , now just by expected div. yield that that was compelling ( no mention of the COL divestment back then )
so you also have to be able to spot an opportunity and be willing to take it