RE: Too many traders here5 Aug 2020 10:41
3p doesnt sound much but it equates to 25-30% profit.
Depends on your opening position. If you do this multiple times you effectively increase your holding by 25% or so each time reinvesting the money. If price retreats again and I re-enter I will have double the amount of shares I started with using this strategy.
Obviously you run a risk that you get a timing wrong and news lands etc and price shoots north but if thats the case im 80% up overall which aint bad on my initial investment.