RE: Future17 Mar 2021 11:12
Rather wasted your third post there Richie.
1)
I lost £12k last March, because I made a stupid investment (3OIL).
Would've been £30k, had I not already traded it up to that from £10k and received £2k back in compensation.
2) I first invested £1k in UKOG as it started the 11p spike and sold it for 10.2p.
That was against all my investing philosophies.
But I then wondered if I could do it deliberately and make a go of it.
I traded it to over £100k (buying low, selling higher, buying back more shares with the profits).
At £100k, I felt decidedly uncomfortable with the amounts I was trading.
(I retired at 56 in 2016 and am fortunate enough not to need to trade - I do it for other reasons).
I withdrew half and transferred it to my 'main' portfolio.
I left the other half here as a 'long-term' hold.
Realising I'd made another big mistake, I spent the next two years trading the loss just so I could withdraw that without a penalty (although I lost two years worth of interest).
I've posted my mistakes along with my successes.
I don't post 1/4 of my investments; history; or strategy.
My 'trading' portfolio never got above 10% of my whole portfolio, and mostly was under 5%.
My main portfolio is invested 'patiently' and achieving 20% average annual returns.
I worked in the O&G industry for a while, at the end of the nineties /start of the noughties.
I wouldn't say that I'm an expert in that; the Pharma industry (in which I also worked), the Agricultural industry, in which I owned a business, before selling it in 2016; or investing.
Or anything.
But, if someone politely asks a sensible question and I think I can answer it, I will.
If I subsequently think of more information related to it, I'll update my answer.
There are some proper lunks on this board.
I mostly leave them to advertise their own prowess and they seem to delight in that.
But, as far as investing is concerned, I bear nobody any ill will, until they try to cost someone else a profit.
I see investing as "Us vs The Market" and will try and help others to a profit if I think I can.
I have posted many, many, many times before that I am no investing expert.
I come to it from a novice standpoint and am learning on the way.
But I have had well above my share of good fortune.
Happy to share info, on the afore-mentioned caveats.
I have been successful with UKOG and am grateful for that.
Around Q1/Q2 last year I realised it was going to continue a long fall, because of its' management and their poor policy choices.
I like to remain open to the possibility of a turnaround which is the reason I'm still here, having sold the last of my holding in January.
But I think there's just a 5% chance of that possibility of that chance being realised.
I vehemently disagree with the constant reasonless ramping going on here.
I hope there IS a turnaround, as I have friends still invested here (at >1p).
The changes required look to me to be too great at this time.
Goo