Hi
@gypaetus and
@Beany72
"The Big Boys" - if you search under
XMD it will take you to 'The Big Boys' thread.
I was following the XSO thread, which is more around speccies but with some excellent and well regarded posters. Then Captain Grumpy kindly put me on to the XMD thread as he thought it was more in line with my approach and he was right as the XMD (Big Boys) is more around the non-speccies and has a fundamental as well as technical approach to it.
There are some very good posters, very experienced, knowledgeable and very helpful; our own Jako's amongst them.
I'm very grateful for the assistance that these guys have afforded me so far and you'll find it is also a very good place to further your insights into the market. For instance, in my case, Orwell and Captain Grumpy spent quite a bit of time assisting me with my Options trading. I have been using Call Options as I don't have very much money to trade and I've been trying to make the most of the little I have. Orwell and C.Grumpy pointed some very pertinent aspects of these derivatives that opened my eyes.
Speaking of the market, it looks like we might be on the way up.
RXP - Beany, I wonder if you are taking things a bit too literally e.g. when placing your Stop Losses, it may be better not to use a specific Low like the Previous Higher Low and instead use a Zone.
There is an area of support just between where you got stopped out and around 70 c.
I suspect you are trading like a Day Trader and may need to change it to a more longer term. This is not meant as a criticism Beany, it's just my obvservations of the way you have been trading.
Have a look at Jako's trade on MND - he bought at $7-$8- and is still in there even though the stock has had plenty of pull backs. In other words, pick your mark well and run with it. Easy said than done, I know
It boils down to a R:R and if you buy a stock with good fundamentals at a support zone, rather than a specific number, and use that support zone as your Stop Loss area, you'll have fewer but likely more profitable trades.
I'm still holding RXP and will continue to hold as nothing unusual has taken place yet to make me change my mind. Others where I'm down but still holding: SIG API MYX CSR. Time will tell but I'll be holding until the big picture changes for me.
Cheers,
soccer
