Caporegime
200% not bad
Yep, 221% not a bad day in anyones books, mass sell tomorrow me thinks.
If we can keep a rise going the rest of the week, we might finish friday very strong indeed!
200% not bad
Markets
**Sorry folks no update today (13th) - I have a tummy bug and don't feel up to an update but I will be back with a full update on March 20th - apologies *** I leave you here with the last update**
Wow the Dow hits a high! Who'd have thought it?
Yet again, there are wobbles here and there but the wobbles keep being bought up. As those of you who came to the seminar could see I didn't mention it here but bought the last wobble as a ftse bet in the early 6200s which is going nicely.
Those trying to short against the market are being badly singed. IG shows more than 80% of its spreadbetters have been short the FTSE since it was 6000.
This is what happens if you go with what you think rather than what is in fact happening. You have to go with the trend. Shorting against it can lead to disaster.
I can't remember ever making so much money so quickly, I'm guessing but looking at the accounts it must be over £150,000.
It is almost impossible to lose at the moment, so if you have been taking any sizeable losses recently consider: should you be a trader?
And talking of this topic a reader has offered to share his terrible experience. Read it for yourself and be pleased it is not you.
***
"Hi Robbie just bought your book at the weekend and if i had seen it earlier I would have the 12.99 and not standing a loss of £150k (this is one hundred and fifty thousand pounds)
I am at a point were my whole day is literally spent sweating and stressed out as 100k was from my pension and 95k from my lifetime savings and every mistake in your book i have made. I feel wrecked. I lost most of my money on ..wait for it Desire and range resources.
Lifetime savings - I have 19k left which is all in Range and if I sell I have no chance of getting anything back so i guess I sit tight and pray- though if it gets to 10p etc over the next 6 months will I be tempted to hold in case it goes up more?...oh dear I bet you have heard stories from *"*** like me before lol
I bought lots of range and rmp high and panicked and sold low and Xcite and gkp blah blah..oh **** spd crashed yesterday just noticed..recovered a bit today.
Just thought I would share this with you so you can pass it on..it's not a game..I feel suicidal I've lost all this money for my future (pension) and present ( 19k left-not sure to cash in or wait) and I've now lost my job because I couldn't focus with these losses and lost my long term girlfriend because I was a depressive **** to be with. it just sickens me to the core and my confidence to get another job is at an all time low.
I don't mind you passing my story on if it helps others. I would hate to see someone else in my position.
just wish I would have seen your book sooner...I bought more of a lot of the stocks on the way down catching a falling knife, thinking averaging down would work and not doing research..and the worst vice of listening to BB boards and 'so called experts' who mysteriously disappear when the stock falls rapidly.
i guess now I have your book I might sell the lot and plan a new strategy with proper stop losses, although I haven't a great track record in picking stocks or just cut the lot..wipe my mouth of the £150k jointly lost and put it down to stupidity, but hopefully i can get my life back on track. I know this sounds hard to believe but I have never bet on anything before nor been to a casino..it was pure greed listening to someone who said they made a 20 bagger on GKP a couple of years ago.. what an idiot."
So there we are. Thanks for the chilling story. I think it is easy to spot where he went wrong.
But to spell it out: what all new punters do, buy up all the crazy oil stocks hoping to make a killing. Believing tipsters and bulletin boards and the bloke down the pub.
Putting nearly everything in just a tiny handful of risky stuff and not having a balanced portfolio. Holding onto losers as they crash and hoping they will come back.
As you can see from the email this reader can't bring himself to sell even now. It's a terrible psychological problem. As he says he "might" plan a new strategy with proper stops. Will he though?
Never ever allow yourself to get into this sort of mess. Greed was part of it - "this oil share will make my millions".
Losing punters always think they will get the money back, find excuses for holding onto duffers, never use stops, etc. They never buy companies making real things with real profits, always hoping against hope their company will find oil or gold. They get influenced by idiots.
I won't ramble on about it any more, but this kind of stories are in my book.
What a prize plonker.
Investing in the services themselves has done very well funnily enough. HL, SL or IGG all basically retail type finance services, profits from a growing trendservices are recommended?
I think 500 has a demo account. The best learning is by real trades of really small size (think percentages).Not traded before but been doing virtual for 7 months now
Osborne also gave a boost to the shale gas sector by revealing that the government was to introduce generous new tax regimes which would accelerate early investment into shale gas. A recent survey by accountancy group PriceWaterhouseCooper estimated the value of the UK shale gas opportunity at around 33 billion pounds and the Chancellor will be hoping that his tax incentive will help the country to tap into this potential sooner rather than later. George Osborne said, "Shale gas is part of the future and we will make it happen.
UrAmerica
An Argentinian mining company that hunts for uranium wants to join the Alternative Investment Market despite the presence of Falkland Islands-focused oil & gas groups on the junior stock exchange.
UrAmerica has exploration licences in the Central Plateau Province of Chubut, a flat and arid region 1,300km south-west of Buenos Aires, where the company is based. Although the company works so far from the UK, Aim has long been viewed as one of the best markets for natural resources companies to secure investment for exploration and production, writes the Independent.
@ForexLive: Fed's Rosengren says QE benefits outweight costs http://bit.ly/16hD41e
Are there any sites which give noobs tips on what to buy and when to sell ?
This is a stock that moves 10% in one day. That might be chasing it a bit too much for the idea of averaging395p mark to average down some I bought the other day @ 402p.
No not really. Best tip use 1 years lottery money, a dartboard and a newspaper sheet of stocks. Silly but its beaten professional tips at timesnoobs tips
Nicaragua-focused miner Condor Gold may soon see estimates for its potential annual production revised higher, towards 200,000 ounces of gold, or £200m at today’s prices. Significantly, Condor has a strong management team, with a record of making money for investors and backers with deep pockets. In fact, renowned investor Jim Mellon is on its board. “Early-stage miners are risky and Condor is not for the cautious. However, it has made great strides and won support with international investors. The shares have real potential for the adventurous,” says The Financial Mail on Sunday´s Midas column.
Are there any sites which give noobs tips on what to buy and when to sell ?
last year's eight expert tips would have ended with a 2.9 per cent loss, turning your £8,000 into £7,765 (before any dividends).
Macquarie cutting their CNR shares 45%. Makes me more bullish
Be careful with spread betting - its deceptively expensive - not really suitable for intra day stuff nor for longer term buy nd hold.
You can perhaps use it for short term speculation over a few days... that is something that is very hard to do (despite appearing at face value to be straight forward - if it were then it would be rather trivial to become incredibly wealthy from this).
You could attempt a few mean reversion or trend following strategies - plenty of literature on this all over the web... (and plenty of confusing BS too). Keep records and bear in mind, when looking at your results, the costs of crossing the spread and any slippage that took place... account for it and add it up - depending on the time frame and the size of the moves you're trying to capture you might start to see that those costs are rather large.