RE: End of Day Chart - Joshwaa welcome your feedback29 Jul 2021 21:19
Hi guys,
Oh the voodoo! I know it’s easy with hindsight and I accept news rules ok but what’s one of the first things we do before we buy. Any instrument?
We look at the chart!
TA is an extension of that.
I use it when buying and selling as a component of my decision making.
Most I get wrong but many right. TBH the best it has served me is when to sell as opposed to when to buy. Either as a complete exit or a sell and buy back cheaper! Opp to Zak!
The times I buy using TA it’s actually a momentum change that makes a buy even after a sell!
E.g. I caught PUR not far off bottom on a sell/buy in trading terms.
However, a recent example (Mrs Trek), I picked up some PXC today. It’s been on my watchlist since 45p. I had to decide which to flip and time it. My primary object was timing not the sell (as I had set a news cut off date) but time the volatile PXC buy.
That’s when TA can help. I sat on my hands on the spike to 72p having watched it climb from 55. I bought 33% today at 64.4. Watching the volume, RSI and by running dummy trades which can really help. I will buy a few more tranches over time with discipline and use TA & news!
It helps to average in or out of a position. Once you are all in you are committed. Likewise if you are all out you can miss any bounce! We all get it wrong, we don’t deliberately pick duds! Sometimes it’s fine to leave a little in just in case you wanna start again but PROTECT your capital!
Investment advice is not difficult following it is!
Rule 1 is the same as rule 10. Preserve your capital! Whatever it takes! No capital and you have dropped your nest egg, it’s smashed, you are out of the spoon race! Protect your capital at all costs!!! ALL even if it means a hit. Only you know your risk limits.
Don’t put all your eggs in one basket! Oops! Lol!
No my TXP YOLO sounds mad, but Mrs Trek & I are one and she has never questioned any of my investments in ‘her’ ISA. It’s likely that trust that has made me better with her ISA than with ‘mine!’ LOl!
Often some peeps don’t sell loser to ride winners or what you are sure are winners! Don’t sit and wait for that ‘one day’ unless you are absolutely convinced & can afford to wait - and then use foot in NOT all in!
A BB is a terrible place for that. It’s often like a doctors waiting room for news! Everyone says it will be fine!
I have written to many CEO’s and recently 4 from 6 have replied. So it can help.
Of the 4, 2 I have had a some respectful email exchanges with where I have actually shared research with them that they were unaware of! Sounds mad but we probably research their space more than they do in terms of competitors/science!
Most PI’s hold and hug come hell or high because Warren ‘says’ so. He doesn’t, he sells once his economic moat looks to be in jeopardy and his quote is often miss placed!
PI’s have the advantage to be able to adapt in smallcaps. So adapt! Use it to your advantage!
Usual caveats
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