HAW – Hawthorn Resources Limted
Really got smashed on this trade:
Buy HAW @ 1.2 cents
Sold HAW @ 1.0 cents
Loss ~20%
Manage to create this loss in under 2 hours and learnt some more valuable lessons.
Lesson 1: Never trade when your primary trading platform is not working. I spotted this trade just minutes after the company released an announcement to the market [...]
MGX – Mount Gibson Iron.
I think this one is a good little prospect, it is a profitable iron ore mining company whos major shareholder is Shougang Concord International, which is a Chinese state owned steel manufacturing company (among other things) . MGX was one of the first companies last year to announce a reduction in demand from China [...]
Beginners Blog
Well the trouble continues. I held onto my VBA shares until today but I got out at $0.32 after deciding that they were not going anywhere. I have been watching AZZ a gas expolation company that has been doing well lately. Over the last couple of days it’s price had dropped from 0.38 to [...]
MLS – Metals Australia Limited
This is a speculative stock that I have been keeping my eye on lately. MLS has a number of mining interests covering nickel, zinc, copper, gold and uranium. It’s that last commodity that has drawn interest from investors. The company is tied up in a legal battle in the Namibian courts over the land title [...]
SkyGrid Beta
Now this is very very cool. After registering ineterest in being a beta tester for SkyGrid I finally received confirmation and access to the newly launched news aggregator.
If you haven’t heard of SkyGrid it’s a startup aimed at traders providing a real time news stream that competes with services such as Bloomberg. If your a [...]
Country with just a service economy to support it
I follow Techcrunch daily and today came across this little gem. Whilst slightly off the trading topic it can broadly be related to the plight of many developed economies.
What do we manufacture in Australia that is exported globally and is a market leader? I can think of few pharmaceutical products and some small engineering plays [...]
Beginners Blog
Last week I decided to get myself a new hobby, collecting stamps seemed a little dull and it’s too cold for gardening so I figured I’d have a crack at becoming a day trader. I set up an online trading account, put $2000 in and instantly knew that within six months I’d be able to [...]
Shane Oliver – Myths and mistakes investors often make
This is a great read, very interesting especially when he discusses the herd mentality.
View it here.
Happy trading.
AZZ – Antares Energy Limited
Trade log:
Buy @ 17.5 Sell @ 25.5 Profit 43.62%
Buy @ 27 Sell @ 25 Loss 10.00%
Buy @ 27.5 Holding
Happy trading.
My Trading Rules – Part Two
Following on from my previous post here are some more rules I follow:
Know when to exit a position. Before taking a position on a trade I always have a predetermined exit whether that be a stop loss to minimize any losses or a profit percentage at which I am happy to exit. This sounds incredibly simple but can be incredibly difficult to implement due to natural human instincts such as greed and stubborness. Remember the golden rule of all trading is to make money, cash is king. Trying to pick the high for the day as an exit is extremely difficult and elusive just as trying to convince yourself that a share will turn around and that your stop loss should be altered.