RE: Trolls3 Oct 2019 11:47
Thanks Cap'.
Yes, you're correct.
I have two strategies for my UKOG holdings:-
One is holding shares I bought a while ago (although the price wasn't very different to what it is today), hoping for big rewards in the long term.
The other is to trade, which involves buying and selling at various different pricings all the time hoping for quicker returns at the expense of larger returns.
I target 5% profits on these, but am happy with more, if I'm lucky.
If I am able to cash a lot very quickly I will accept less (2% in an hour, for instance, beats the annual bank rate - although I usually only do this if the SP is stuck in a very narrow range and fluctuating quickly).
My recent buys (my current trading stock) were on the way down, at 1.3p, 1.25p, 1.17p, and 1.06p
I have more pending Buy instructions in place at 0.95p, 0.9p and 0.85p, in case it falls further.
Thus it makes sense to keep buying for less and less, then selling for more and more on the way back up, while the turbulence resolves itself.
I've also just put my Father back in the game this morning, at 1p (sold the same a month ago at 1.2p, after buying in July at 0.95p).
He makes smaller investments and so has higher overheads than I do.
His returns need to be higher, which means they take longer.
:)