Anglo Asian Mining Share Discussion Threads

[wanobi] 05/12/2018 16:27

okay, so back to just 3 stocks for now, here's a chart sanity check :-)


free stock charts from uk.advfn.com



free stock charts from uk.advfn.com



free stock charts from uk.advfn.com


cheers Wan

[ilostthelot] 05/12/2018 15:06

95p buyers will be looking for £2+. So stronger hands take the shares.
At some point there will be a decent pull back of 20% or so to try shake out the weak holder's. Imho. Who knows when!!

More likely it will go up given its almost clear skies ahead on the chart after the Pivotable all time high 120p.

Momentum traders Likely to jump on the band wagon then.

[ilostthelot] 05/12/2018 15:00

No harm in taking profits. That's the name of the game after all.

I sold some at 30p. Which i bought back at 50p.

My fair valuation today is £2.40. I honestly think AAZ has done enough now to merit a premium rating. So i am holding for over £2.50-£3 where i will sell some and reassess / trade more.

[wanobi] 05/12/2018 14:30

ORM taken a hammering today, big seller wants out it seems, cheers Wan

[wanobi] 05/12/2018 14:23

100% agreed KS, I have to do these things to learn and just because I've sold now doesn't mean those stocks are off my radar, I can always buy them again etc.... I have no problem making mistakes so long as I'm making money in the long run... thanx, cheers Wan

[king suarez] 05/12/2018 14:17

Hi Wanobi,

I think knowing intellectually how to approach the market is one aspect, but mastering your emotional response to trading is another - and that requires knowing oneself (convictions etc) and ones risk tolerance (through experimenting?).

I think those things you can only learn through practical experience?

Think you may be a bit short sighted in your sale of STCM as the price hasn't really changed much since you bought and it is quite an illiquid stock - I continue to hold my position as I like the prospects.

KS

[sportbilly1976] 05/12/2018 13:42

Gold had an early test of the $1235 resistance as support and came off that well...onwards now to $1250 and up

[wanobi] 05/12/2018 13:39

also sold out of STCM & STAR....

STCM small loss,

STAR a big loss as I had 500K of those, I went in far too heavy and was simply following mattjos, DMOR and all that...... anyway its gone, loss taken before it might get bigger, who knows....

Cheers all, thanx Wan

[wanobi] 05/12/2018 13:01

Bumpa, I've condensed those rules down so I can apply them to me and added them to the header to help all, cheers Wan

1 - Big money is made by sizing up the entire market and its trend.
2 – It’s NOT your thinking that will make big money for me – it’s my sitting tight.
3 – Look for a stock or commodity showing a profit right from the start.
4 - There is only one side to the stock market - it is not the bull side or the bear side, but the right side.
5 – You have to work at this.
6 - In a bear market all stocks go down and in a bull market they go up.
7 - In a narrow market, when prices are not getting anywhere - watch the market & don’t invest until the prices breaks in either direction.
8- Never argue with the tape.
9 - You must fear that you loss may develop into a much bigger loss, and hope that your profit may become a bigger profit.
10 - Constant action irrespective of underlying conditions is responsible for losses
11 - Don’t believe in tips.”
12 - A loss will never trouble me after I take it. I will forget it overnight. But being wrong – not taking the loss – that will damage my soul.
13 - Always sell what shows you a loss and keep what shows you a profit.
14 - Always sell down your position down to the sleeping level.
15 - Being a little late in a trade is insurance that your opinion is correct. Don’t be an impatient trader.
16 - It is foolhardy to make a second trade, if your first trade shows you a loss. Never average losses.
17 - It is what you actually do in the stock market that counts – not what you say you’re going to do.

[wanobi] 05/12/2018 12:39

thanx Bumpa, me too, not because of the stocks themselves, they may well prove to be great in the long term and I hope so for bwana and all the other investors there.. but because I must learn to take a loss, not look back or dwell on it and move on... as per one of the rules above, cheers Wan

[bumpa33] 05/12/2018 12:30

wanobi - i think that's good.

[wanobi] 05/12/2018 12:27

Guys, I've started to employ some of these rules to my own situation today and sold out of both MTL & AMC at small losses... bwana I wish you all the best with them, I'm just focusing on my winners for now, cheers Wan

Total losses booked to date = £ -1,391.81
Total profits booked to date = £0

[bumpa33] 05/12/2018 12:25

i always remember that Livermore shot himself - and that he was married to a woman whose 4 previous husbands had also committed suicide.



There's a lesson in there somewhere...

[wanobi] 05/12/2018 12:25

yes, very sad it ended that way, cheers Wan

[bumpa33] 05/12/2018 12:19

"Reminiscences of a Stock Operator" by Edwin Lefevre is a book anyone in this business should read. Effectively the life and times of Livermore

You are aware of the demise of Livermore Wan?

took a few FARN at 79...

[wanobi] 05/12/2018 11:29

Whilst were sitting tight (quote 2 below), I thought it worthy of posting this here, enjoy all, cheers Wan

Jesse Lauriston Livermore was born on July 26, 1877, and started his trading career at the age of 14 as a “chalk boy”, posting quotes for stocks at a brokerage in Boston. It was in this job that he learned to trade, and over his long career he traded both up and down markets including the panic of 1907 and the 1929 stock market crash, making (and losing) many millions of dollars.

Jesse Livermore Quote 1:
“He really meant to tell them that the big money was not in the individual fluctuations but in the main movements that is, not in reading the tape but in sizing up the entire market and its trend.”

Jesse Livermore Quote 2:
“After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!”

Jesse Livermore Quote 3:
“Experience has proved to me that real money made in speculating has been in commitments in a stock or commodity showing a profit right from the start.”

Jesse Livermore Quote 4:
“It is literally true that millions come easier to a trader after he knows how to trade, than hundreds did in the days of his ignorance.”

Jesse Livermore Quote 5:
“There is only one side to the stock market; and it is not the bull side or the bear side, but the right side”

Jesse Livermore Quote 6:
“The market does not beat them. They beat themselves, because though they have brains they cannot sit tight.”

Jesse Livermore Quote 7:
“The average man doesn’t wish to be told that it is a bull or a bear market. What he desires is to be told specifically which particular stock to buy or sell. He wants to get something for nothing. He does not wish to work. He doesn’t even wish to have to think.”

Jesse Livermore Quote 8:
“I can’t sleep” answered the nervous one.
“Why not?” asked the friend.
“I am carrying so much cotton that I can’t sleep thinking about. It is wearing me out. What can I do?”
“Sell down to the sleeping point”, answered the friend.

Jesse Livermore Quote 9:
“He will risk half his fortune in the stock market with less reflection that he devotes to the selection of a medium-priced automobile.”

Jesse Livermore Quote 10:
“On Pat Hearne – He made money in stocks, and that made people ask him for advice. He would never give any. If they asked him point-blank for his opinion about the wisdom of their commitments he used a favorite race-track maxim of his: “You can’t tell till you bet.””

Jesse Livermore Quote 11:
“I never hesitate to tell a man that I am bullish or bearish. But I do not tell people to buy or sell any particular stock. In a bear market all stocks go down and in a bull market they go up.”

Jesse Livermore Quote 12:
In a narrow market, when prices are not getting anywhere to speak of but move within a narrow range, there is no sense in trying to anticipate what the next big movement is going to be. The thing to do is to watch the market, read the tape to determine the limits of the get nowhere prices, and make up your mind that you will not take an interest until the prices breaks through the limit in either direction.

Jesse Livermore Quote 13:
“I don’t know whether I make myself plain, but I never lose my temper over the stock market. I never argue with the tape. Getting sore at the market doesn’t get you anywhere.”

Jesse Livermore Quote 14:
“Instead of hoping he must fear and instead of fearing he must hope. He must fear that his loss may develop into a much bigger loss, and hope that his profit may become a big profit.”

Jesse Livermore Quote 15:
“The desire for constant action irrespective of underlying conditions is responsible for many losses on Wall Street even among the professionals, who feel that they must take home some money every day, as though they were working for regular wages.”

Jesse Livermore Quote 16:
“Remember this: When you are doing nothing, those speculators who feel they must trade day in and day out, are laying the foundation for your next venture. You will reap benefits from their mistakes.”

Jesse Livermore Quote 17:
“If I buy stocks on Smith’s tip I must sell those same stocks on Smith’s tip. I am depending on him. Suppose Smith is away on a holiday when the selling time comes around?
A man must believe in himself and his judgement if he expects to make a living at this game. That is why I don’t believe in tips.”

Jesse Livermore Quote 18:
“A man must study general conditions, to seize them so as to be able to anticipate probabilities.”;

Jesse Livermore Quote 19:
“Losing money is the least of my troubles. A loss never troubles me after I take it. I forget it overnight. But being wrong – not taking the loss – that is what does the damage to the pocket book and to the soul.”

Jesse Livermore Quote 20:
“I think it was a long step forward in my trading education when I realized at last that when old Mr. Partridge kept on telling other customers, “Well, you know this is a bull market!” he really meant to tell them that the big money was not in the individual fluctuations but in the main movements that is, not in reading the tape but in sizing up the entire market and its trend.”

Jesse Livermore Quote 21:
“I did precisely the wrong thing. The cotton showed me a loss and I kept it. The wheat showed me a profit and I sold it out. Of all the speculative blunders there are few greater than trying to average a losing game. Always sell what shows you a loss and keep what shows you a profit.”

Jesse Livermore Quote 22:
“If you can’t sleep at night because of your stock market position, then you have gone too far. If this is the case, then sell your position down to the sleeping level.”

Jesse Livermore Quote 23:
“A prudent speculator never argues with the tape. Markets are never wrong, opinions often are.”

Jesse Livermore Quote 24:
“Professional traders have always had some system or other based upon their experience and governed either by their attitude towards speculation or by their desires.”

Jesse Livermore Quote 25:
“Don’t take action with a trade until the market, itself, confirms your opinion. Being a little late in a trade is insurance that your opinion is correct. In other words, don’t be an impatient trader.”

Jesse Livermore Quote 26:
“It is foolhardy to make a second trade, if your first trade shows you a loss. Never average losses. Let this thought be written indelibly upon your mind.”

Jesse Livermore Quote 27:
“One of the most helpful things that anybody can learn is to give up trying to catch the last eighth – or the first. These two are the most expensive eighths in the world. They have cost stock traders, in the aggregate, enough millions of dollars to build a concrete highway across the continent.”

Jesse Livermore Quote 28:
“Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money.”

Jesse Livermore Quote 29:
“People who look for easy money invariable pay for the privilege of proving conclusively that it cannot be found on this earth.”

Jesse Livermore Quote 30:
“It is what people actually did in the stock market that counted – not what they said they were going to do.”

and there you have it, so many things I am doing wrong already....

will do better, keep reading these words of wisdom daily for starters....

cheers
Wan

[celeritas] 05/12/2018 10:49

We really need some sellers to feed into new hands, these are the ones which will take it over 200p at some point next year.

[mad foetus] 05/12/2018 10:25

Amazed that I got some at 91.7 yesterday. Happy to try to do the same today if the MMs play games again.

[ntv] 05/12/2018 10:23

yes it was
200k in auction for sale @£1
some longer term holders taking profits again today

[2sporrans] 05/12/2018 09:57

was that 10k shares traded at 96p in 9:00 auction?

so, worthy of note as near as damn proof the 200k-95.2p seller is indeed cleared out
as Matt suggested yesterday.

seems set for launch towards the pound price now.
could even happen today; easily with another 2 100k buyers.

[bumpa33] 05/12/2018 09:38

hmm, case in point - 2 out of 3 of the ones mentioned earlier are fading quite badly.

[bumpa33] 05/12/2018 09:35

sounds about right wan.

[wanobi] 05/12/2018 09:31

ORM - I can buy 250,000 at under full offer right now, so the seller is still there correct? thanx, cheers Wan

[wanobi] 05/12/2018 09:16

ORM - back-test of yesterdays breakout perhaps! cheers Wan



free stock charts from uk.advfn.com

[cinoib] 05/12/2018 09:06

Currently 11-1 on the buy side so shouldn't keep this price to much longer and pog of£ or so last I looked. See the yanks lost all the last 2 days gains in one session, typical.