RE: Chart7 Feb 2021 19:20
Thanks both. :-)
MFM, I really appreciate you taking the time to write this, and I'm going to read it slowly and count the candles. I'm quite pleased with myself on my trading results so far but I have this "need to know" thing about me. I'm not sure if it's fear of dementia or boredom because I can't party like I used to. Thanks for the reading tips too. I will be buying them. I doubt very much I'd ever go in for the HFT stuff, if indeed it became affordable/available to PI's. Of course I'm in it for the money, but it runs deeper than that. Every trade, every stock intrigues me. There is barely a day goes by where I don't learn something that fascinates me. Rights and wrongs of the system (more wrongs than rights) but I also like to see both sides of the debate and understand how, why. I do love the challenge of stock picking, yet I've always been vehemently against gambling (bad childhood there, the sound of amusement arcades makes my stomach churn). I'm too old to need to make millions. I'd only die and my son would probably kill himself in his new Ferrari. Happy with comfortable, challenged and excited. I hate Friday nights now, love Monday mornings :-)
Bobby, your 3 types of investor did make me laugh. How true it is. I must admit I first bought into EUZ on a spike (an August spike I believe, 2 or 3 years back now). I've since smartened up, bought on the lows, averaged down, then topped sliced on one spike. Now I'm something like a whopping 0.3% in the blue (last time I looked). I was not money savvy when I was younger and scrapped my pension contributions in favour of a 12 year mortgage instead of a 25 year one. It was 1999 and pension with Equitable Life who were in the news headlines for all the wrong reasons. I decided to transfer all my little pensions into a SIPP and make a go for it myself. I limit my trading funds, so when I have been smart enough to earn (not win) a certain amount, that gets put into my investment pot. I like EUZ and PEN because they are really low maintenance. They don't go up much, but they don't go down much either. It feels "safe" to me and allows me to get on with the exciting trading stuff. BUR on the other hand (I bought that one after the Muddy Waters strike), can still be quite volatile and I'm starting to think I need to let go. Yet I'm waiting for RR. to get to 80p and I'll jump in there!!! I think I'm starting to confuse my investing and trading and need to revise on self discipline.
It's silly really but it's only now, when you say a gradual slow rise am I seeing what everyone's frustrations are all about. I've just "parked up" my investments with a thought they'll look after my money, and been happy with the trading bit to make my money. Today has actually been a wake up call to me!!!!
Thanks both