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A1M - AIC MINES LIMITED


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Actually, just looked at my statements. Make that down $115,000 on my IAU long position when looking at last week's close

 

Hi melua, you are to be congratulated on being so honest and open, maybe we can have a little more of this (honesty).

 

Your paper loss highlights the absolute neccessity to Pick The Right Stock, and there are not many to choose from, the tide is not coming in and all ships are not rising, many are being found out. This batch of Q reports may hold several "nasties".

 

If you go back to the Chairmans (link enclosed) adress last May, the alarm bells were ringing way back then, and the chart of IAU bore that out.

 

Cannot stress highly enough that in todays market conditions, it is only quality stocks that have any chance---IMHO.

 

Weekly chart enclosed.

 

http://www.asx.com.au/asx/statistics/displ...;idsId=01295912

post-20731-1343034625_thumb.jpg

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flower,

Stop losses are useless when a stock gaps down and these days with ramapnt manipulation across the globe, stop losses are a no no IMO. There are a whole group of traders who prey on stop losses. I've never employed them and it has served me well. A stop loss would not have saved people today. In fact, a stop loss would have exited people ate the very bottom.

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I've never employed them (stop losses) and it has served me well.

 

Same here, (btw last post not directed to you.)

 

I'm down about 40% on SBM which before the shock and totally unforseen announcement that they had bought Allied Gold and the resultant violent gap down, was travelling gently upwards and against the downward trend of its peers---so I sympathise.

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I've bought IAU @0.57 last wek, it went up to 0.62 , didnt take profit, then it started to fall - I put a stop at @0.52, which was the previous starting point of a break out , and I got stopped out, then it went down more to 0.48

 

If I did not get stopped out, I would have joined you here today....

 

so stop loss is useful tool to execute your exit plan without emotion

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Your foolish comment regarding the use of a stop loss shows ,yet again, a complete lack of understanding of how markets function:melua has also noted your ignorance.

Then again flower,someone who has stated his idea of a successful trade is a profit which allows you to take Mrs flower out to dinner --let's call that $100--doesn't really need to understand anything about trading. In a recent post on the Gold thread you actually boasted that " and that takes Balls!--Done it many times before, happy to do it once again,". So,takes balls to place a trade to make $100 if it goes your way! Might be time to check your chromosomes!

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Then again flower,someone who has stated his idea of a successful trade is a profit which allows you to take Mrs flower out to dinner --let's call that $100--doesn't really need to understand anything about trading. In a recent post on the Gold thread you actually boasted that " and that takes Balls!--Done it many times before, happy to do it once again,". So,takes balls to place a trade to make $100 if it goes your way! Might be time to check your chromosomes!

 

All as usual a total figment of your fertile imagination since you can have no concept as to the sums invested---or how those investments are made, or in what markets, or the vehicles used, or the time frames involved--so shut up.

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"If you get stuck in a downward gap thats just bad luck."

 

That is exactly the point I thought I made (as did melua ) And,having traded at a significant level for many years,i do know how to use stop loses and trailing stops.

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Ignoring the issue of gap down, do you agree with this comment made by melua?

 

 

stop losses are a no no IMO. There are a whole group of traders who prey on stop losses. I've never employed them and it has served me well

 

 

 

 

 

 

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