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m....well done on your trade, many a mickle makes a muckle.
I must be ill, I have't made a trade this week yet.
S - Clearly you don't need any advice from someone like me, but I trust you have a strategy to withdraw "some profits" so that you do not risk loss of all gains.
when I had a good run with CFDs in 2004, as soon as I doubled my starting pot, I withdrew half and used it for family holiday going on our first ever cruise. After a while I transferred to spreadbetting and after another good start it all went belly up, when I got taken out by a huge market gap down, and CMC sold my position miles below my stop loss order (while I was not watching the market), so that my account balance was negative and had to repay them. Since then I've never used leverage again, as thought my stop loss offered guaranteed exit protecting my capital. A planned/controlled £200 max. loss became a loss of over £2000. Worse thing was my position would have been in profit if CMC had not executed the closing of position.
As a result I find stop-losses are more of a hindrance than a help, unless you can get a "guaranteed stop loss" which comes with a premium, and not available in normal SIPP trading account.
With respect to the dead wood - can you split into hold and trades ? I've only got small p/f as you know with 12 shares.
My biggest ones with GSK, IMB and RDSB are part hold and part trade.
Some are LTH - ASEI, AEWU, NG, SUPR.
Some are trades - 88E, AVST, CEY, NCYT, POLY.
Any of the LTH can be sold to add to trading funds if needed. Like T says best to liquidate rubbish and move on.
Just make a plan - even if you don't follow to the letter - it gives some freedom to let go.
I've made a number of changes to my plans thanks to ideas from Brigadiers.
Just some thoughts ... GL
Cheers - C
NCYT up into 440's, GGP 22.8, ARB hovering 210 ish, SNG 150 ish .... some hopes for GGP and NCYT rise this week, hopefully ARB too!
No trades S - no Rioja for you !
Always tomorrow ( rule 8 )
C - i agree, we should take out profits when significant .... I was over 40% up on a smallish pot at xmas, only pulled out a little cash as hadn't sold the main shares to realise the profit... so like S I have "lost" great profit on GGP since they fell from 36p, SNG since the days of 220p, and actual annual profit was only about 16% by end of the tax year. Hopefully moving back up and this time I will take the profits, can't get sentimental to a share. Will keep some GGP but 2 lots are trading shares. About 1/2 what S holds overall in my p/f ... but my largest holding in numbers of shares and value / cost!
C - did you read my 1 time stop loss story on CINE last year! Bad day.....
M - looks like your dog did you a favour unlike my cat! She's starting to get a bit of a pain in the mornings in that she seems to have a built in alarm clock and comes and plonks herself down on my lap at around 7.55 which makes it awkward balancing my laptop - at least I don't do the same and get a trade ready until she's settled. Well done on your trades today.
S - yes, did quite a bit of hokey cokey with ASC today - three sells and three buys so not a bad day there.
Good to see some of the shares recover today - not sure what to make of ARB today though - does remind me of when IAG were being driven down after the rights issue and they didn't move for something like 8 weeks until big orders had been filled, and a bit like CINE when Jangho kept buying/selling with the share price there hardly moving for 6 weeks. One thing though, according to the chartists, once ARB closes above £2.43 it should be on its way to £4.50.
C....I agree with most of what you are saying, indeed it sounds like the sort of things T repeatedly tells me. Changing my strategy is hard though. I am selling more things at a loss (three whole times since december!!!) I did take a fair bit "off the table" in January to finance some land and may need to liquidate something within next couple of months to fund roof replacement and fitting patio doors, both jobs I could happily do before I got this aged.
V...No trades, no Rioja, that's hard, very hard.
Decided I am perverse. I was holding Nyct bought at 701 so was feeling really glum when they plummeted and lost £2k+. Seems I respond to a thrashing. I’ve traded it back a la T – ie buying more low, shakes, spikes and furious attention. Thank you for the training and cheerleading guys - I’m awarding myself beer.
S - chuckling at 'before I got this aged' because it's one of my regular musings. I never realised how strong, vigorous and capable I was until I wasn't. I'm not quite a crock now, but things take longer and make me ache in places I didn't know I had when I was younger. I'm thinking OH and I will use some of my trading spoils to throw some labour/skills at things we would once cheerfully have done. Trying to see it as liberation rather than abdication.
M - you must be well chuffed with that - well done. It's surprising the difference it can make when you concentrate on the spikes and shakes - there's more than one way to skin a cat as they say.
V - Re CINE stop loss - no I've not seen it as I am newbie in here.
Funny you cannot see "poster history" of RBB thread but can see individual share postings.
Can you enlighten me or advise which of our 536 chapters/pages to look in ?
Maybe our thread administrator (Mr S) can produce an index - LOL.
how long before we are at 1000 pages ?
S - re your strategy - best to ignore any idea(s) that you are not comfortable with.
TBH - you are doing very well with your own strategy as it is - so why change anything ?
I am trying to move away from focus of HYPs after some 17 yrs.
For me it is easier as my past results tell me I need to change ... but in your case why change a winning formula
Cheers - C
C. Seems like we've all had a share of being turned over by the markets and quite often by foul play! I've always felt stop losses are at best a trawling net for the market makers. They never function when you most need them to. There was 20% spike down on one of my stocks for literally seconds, one of those straight down and back up lines. Stopped me out and shot up 30%. I put in a formal complaint to Barclays but they weren't interested. I don't do business with Barclays anymore whether it was their fault or not. I'm sure they are desolated. This is a mute point taking profits. I tend to not let things run too far ahead and have missed some good gains, but I haven't totally calculated how much the gains have made in reinvested stock.
Have had three disappointing company results this last few days. The one with the worst set of results recovered quickly. They all actually made reduced profits on reduced revenues but fundamentally have strongish cash balances, 2 with no debt. Again the one with debt recovered quickest and strongest. Ironically it was the debt in Mcro finally got to me last week. I'm sure its manageable but the current inflation scare worries me a little. I might take a small position again, but the proceeds have been put to good use so far although ultimately they may not make as much in the longer game.
T - are you that mad at the cat ... skin her! Poor pussy. At least you did Ok on ASC.
M - I am not that good at building type stuff ( give me a car / engine / computer and I'm your guy! ) so I worked on the principal I can get paid well for work I do well, so why not pay some one to do what they do well ... we both win ( I get a better job done and they get paid! ) and the money comes from my job so doesn't "really" cost me .... although I got paid if I was on leave anyway so not as though I lost pay if I was off doing some building!!
And now I'm even leaving car stuff to specialist garages!
Still do the mowing / scarifying/hedge trimming / jet washing flags, car washing etc.
Nice trades on NCYT today.
C - Quick reprise - I was trading Cine when it was 40-50p ... 5/10/20 from my records... I had set a stop loss at 39p as there was rumoured to be news .. likely bad ( forgot what! More debt or delayed opening, pulling out of buying a USA chain or similar). So at open I logged on and found that at 8:02 HL had sold my CINE for 16p !!! The stop loss at 39 was ignored as the SP fell so sharply on open. Lost about 70% on stake in CINE,. First and last time I used a stop loss!!! A limit sell, OK so far!
S - go on then, have a glass of Rioja, but just the Aldi stuff!
Good morning all - nice sunny one here again today.
FTSE futures flat at the minute, EZJ posted their figures this morning - another loss so not sure how the market/share price is going to react and TSCO also reported - they actually beat forecast but if you look at their share price to date they haven't done anywhere near as well as OCDO have in the last 12 months. Start of earnings season in the States today so that could be interesting and retail sales out tomorrow where they are forecasting an increase by 10% which is quite a lot but I suppose they think that all the stimulus cheques have been spent now.
Hope everyone has a good day - good luck all.
weather is undecided - could be overcast all day or sun might burst thru - bit like the markets for me so far.
Thanks for the snippets T - I bought a little Tesco - like the thought of a little bit off my shopping bill...every little helps.
Have a great day all
(where will nyct get to today?)
M - hope Tesco works out for you - keep an eye on the graph with NCYT - top is £4.60 at the minute - seems like you've got the hang of spikes and shakes quite well now.
I'm also watching bab - stratospheric rise yesterday, after what I think was a manufactured slump last week, and wondering how much it will retrace. Remember the big fall at the start of the year? Seems manipulated, or at the very least exaggerated.
T - I've got a hang of the theory on shakes and spikes, but my execution is cloddish. But I don't waste emotion on 'could have done better' - a profit is a profit and much better than nowt.
M - if you look back maybe around 2 years ago the share was heavily shorted - a report by someone like Muddy Waters came out that questioned the business/figures and I think the price was around £30 and got hammered down to about £7 - you'll be able to see it from the historic graphs on here. I think yesterday was a bit of short covering myself rather than the rejig of the asset valuations - good luck whatever you decide to do.
Sorry - slightly wrong with my Bab**** figure - was £10 prior to Muddy Waters report.
M -it's the right attitude to have - never get attached to a share, do a trade - take a profit (or loss) and move on without looking back - the more volume/volatility with a share the better.