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Ann: Quarterly Activities Report-PRA.AX, page-56

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Boomorbust

3,697 Posts.

12/05/16

19:07

Post #: 17751938
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Originally posted by Boomorbust ↑

[COLOR=rgba(0, 0, 0, 0.701961)][BCOLOR=rgba(255, 255, 255, 0)]I operate in stealth mode lol but I like to share with the faithful here.[/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)][/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)]I have been very quiet (not on this thread..) and hardly trading for the last 12m as I've been learning learning learning & watching a LOT. Technical analysis fascinates me. Now I've jumped in to day trading as my calls have been edging above about 80% right consistently lately.[/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)][/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)]I initially started in the ASX by buying mining shells (like PRA) that had high probabilities of being RTO vehicles. I'd sit and wait and sell on the burst of news when it happened. Then if I believed I'd try to get back in on the ensuing dump that more often than not occurred almost immediately afterwards (sometimes even in the same day!) for the gentle creep back up.. I even started a snowballing dump on PRA shares early on. Purely for profit. Then I apologised for the dump on here lol[/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)][/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)]But that approach was never going to last forever and tact is now having to change with ASIC & ASX looking to tidy up the volume of RTO's and tighten the scrutiny screws.[/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)]So.. I must change my approach I if I want to stay profitable and relevant in the market. If you are resistant to change you will fail. If you embrace it and look for opportunity you stand a much better chance of success I feel.[/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)][/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)]I'm now shifting my focus on targeting those various tech RTO's post re-quotation fresh out of the gates. [/BCOLOR][BCOLOR=rgba(255, 255, 255, 0)]Churn is definitely a factor I'm seeing on these companies early on post re-list. That's not made up. It happens and continues to do so. It's quite common that stocks lose ground (some significantly) early on. This is however giving opportunity for fresh low entry where the risk of due diligence falling through or undisclosed debt issues etc associated with shells is fairly well non existent. It's an identified opportunity to exploit I feel. Having said that there's still value in select shells I think.[/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)][/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)]The tricky part then becomes when to buy. I missed TV2 for example (even though I called a likely run. My timing was off by 24-48 hours..) but I won't buy after the horse has bolted. There will always be another. That's really important to remember I think. There's a difference between trading a trend and chasing a runner. Don't get caught with your pants down chasing a runner or you will end up at Centrelink and fail as a trader in the long run.[/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)][/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)]Learn technical analysis. Get at least one mentor. I have both active and silent mentors (about 6 in total). If you want to succeed then learn from those who have succeeded before you is my tip.[/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)][/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)]If you visit the NUH thread I posted earlier tonight you will see what I think is likely to happen from a technical viewpoint tomorrow there. Will I be right? No idea. Probably. If not then I will profit on the day..[/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)][/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)]I ran a tight stop loss on KIK & got out unscathed before the sell down today. My reaction to the TH info by the company was "meh" so I bailed immediately. Glad I did. Stop loss. If you are unfamiliar with this terminology look it up! Worth it's weight in gold.. Do I think that's it for KIK? No. But I'm out for now and that's ok.[/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)][/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)]Nobody is ever going to get it right all of the time but you need to keep your losses low and let the runners run (topping up on weakness) if you are going to make a real go of it all. Just make sure you are on board when they do run! If for whatever reason you miss out though no stress.. there will be another. There always is.[/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)][/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)]Just for some perspective my weekdays currently look like this:[/BCOLOR]

6am: Finish work (FT employed - nights)
[BCOLOR=rgba(255, 255, 255, 0)]6:30-7.45am: Chart reviews/plan of attack[/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)]7.30-9:45am: Sleep (Yep 2 hours)[/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)]10am-4pm: Trading[/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)]4-5pm: Aftermarket review[/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)]5-9pm: Sleep (4 hours)[/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)]10pm-6am: Back to work[/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)]Repeat cycle..[/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)][/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)]I'm lucky because I get to read and research a lot while I'm at work a lot of the time.. It's a good job that pays well. I also put around 30% of my PAYG income each pay period straight into the market or at least earmark it for the market.[/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)]If I'm tired I can set positions to protect myself and then sleep easy.. But atm I'm just trading on through the week. The adrenalin keeps me awake anyway.[/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)][/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)]Sorry for the long post but I'm at work not doing much.. Lol[/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)]Better start reading & review.[/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)][/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)]Chow for now.[/BCOLOR]
[BCOLOR=rgba(255, 255, 255, 0)]Boom[/BCOLOR][/COLOR]

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PRA Price at posting: 1.0¢ Sentiment: Hold Disclosure: Held
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