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Morning Fatboyslims,
I wasnt given you advice as I am in no position to do so, given that you are posting trades it was a comment on my part that your trading style without stops has a poor risk/reward profile.I am bullish BIRG and have been building a longer term position(target 3) but I also trade it long and short with stops for quick trades as I have found that looking for quick profits without stops doesnt work in my hands.
Best of luck trading Birg.
Best
Thank you for your advice Icarus. What you say about stops is said in every advice column i read. I understand that .
I feel it is not necessary in the case of BIRG. the large falls that happened ,largely due to the Virus, and partly likely in any case, brought companies both great and small down to less than 50 % of previous values .
lots of these rose back quickly to 80% of their previous values. This has been queried by many top men in this field as too much too soon, and perhaps fueled by amateur traders with easy access to computer buying , ( like me, and thats me saying that)
In the case of BIRG ,valued by the market at 5 euro in January 2020, having risen from 3 euro some time before. lets say it was really worth 4 euro(which i do believe i read somewhere it about its break up value)
It fell to 1.35 , like less than 50% of its value at 4 euro. it has only risen by 30 to 40 % from those lows, still isnt 50% of its 4 euro pre virus break up price.
When /if the downturn happens and many think its imminent, BIRG ,imo may fall back somewhat, even towards 1
i am inclined to live with it, because i am quite confident they will see 2 euro again, no matter what.
As I type ,I see there is merit in your suggestion as having sold at a stop loss price of ,say 1.60 i can then buy back as it approaches 1. if it only drops to 1.59 i can then regret it
Finally , the thing that gives me confidence in seeing 2 euro again is that Blackrock has laid out an enormous amount of money accumulating shares at prices from 2.5 down to 1.35. They have a plan , either to sell all to a potential buyer ,or feed back into the market at over 2 euro
Thanks for your comments
So what is your plan if it breaks 130 and heads down towards 100.
The s/p500 is ripe for a 15% bout of profit taking.
I am not saying the above will happen and if you were building a long position to hold med to long time frame I wouldnt comment.But,your trading looking for very small profit targets with no downside protection,you might be lucky but sooner or later the market will take you down.Only 1 in 100 can consistently trade in your price movement target ,and they all use stops. !!
Best of luck.
Icarus, I am not sure what you mean. I bought three times today, each of 1000 shares, @1.79, 1.78,1.77
The first and second I just clicked on the offer price.
The third(the lowest) I set in an offer at that price, and luckily for me it momentarily hit that price for a short while. it has not gone back that low today.
Regards
Re my selling plans i will hold until i see a ten cent rise in each case
At what price is your stop placed ?
Right,
Two days ago the share price opened in the 1.80s.
When it fell to 1.77.i should have bought, but i stupidly put in a lower bid..next day i
t rose to 1.87. A harvest lost to me becouse of stupidity/greed.
I googled market manipulation, learned a bit about it,there are dozens of articles to read
How the market makers out psyche us,laying false trails to get us to buy, sell. I think I see them at work here.
Anyway, back in today @1.79. Only 1,000 shares, will buy another if it falls
Regards
Small wow
Before i opened the web to check this mornings price, i got an eail from Degiro, they had just sold my tranche @1.852. At the end of yesterdays no phone meeting I had attempted to sell, the market had closed.i placed a day order(i think) so they sold!!! If they go up today, I wish good luck to whoever bought mine.
london 747
I too am popping in and out(though i have tranches @2.60,2.80 and 2.00)
For the second time in a week,using the same money, I bought in.
On friday morning,i attempted to buy in at 1.72.stupidly bidding a little
less than the offered price,as they rose to 1.47 I bought a tranche(2000)
I had not cancelled the original order, and in the late afternoon it was filled.
Monday morning the price rose to ten cents over my buy in at 1.72,dropped back ,then rose.So I set a sale price for 1.82 amd shortly after it clicked through.
In the afternoon I was in a no phones allowed meeting and failed to monitor the rise of my other tranche ,reach a 13cent potential gain.In a few moments I will see how that played out...
Regards
Must have swallowed a Miraculous Medal.... good luck son - sorry Radar but in this instance it seems appropriate to bestow a blessing....
Good luck all...
Good evening Myhome, that is a very good question, Nothing can be taken for granted with this share. My current policy is ...trade it do not trust it and this has worked for me buying in on Friday and selling out today and after fees a profit of £404.46 sterling or 773.97 euro and the reason for the difference here is I loose over a hundred pounds on the currency exchange rates between buying and selling keeping the profits in sterling. It must be factored in that a second wave of covid-19 could come, the market will determine what happens, this share may never recover, take a look at Lloyds Bank for example, for the last 10 years it has not changed much. Many think that because a share in the past has been worth 11 euro it should recover to at least 2 euro, today there were not as many trades as I would have thought with the tri party government formed, I know some here do not like day traders or weekend traders but I am not planning on holding stock here for weeks on end in the hope the price will rise. This is really the Grand old Duke of York share, when they are up they are up and when they are down they are down......and so on. I am keeping daily data on this share daily, so far it has worked and I have made good profit on both trades after returning from the days of BKIR at a few cents.....!
There are opportunities here for the brave....and for those who are just plain bonkers....just do not put the family farm on them!
Proceed with extreme caution but do proceed. Hope this helps somewhat....!
Now that everything is back open and the economy should start to recovery over the next year, will this baby change for the good or keep doing what’s its doing by rising one day and falling the next