Gold

[Tylergold]

im looking for around 40% as it isnt much money in the real world and willing to take a little more risk.

 

what i am worried about is that im not sure lihir is fully tradeing with gold price.

 

i also belive this is start of a rally for a short period of time lets say a month or 2 and then i feel we will re test the bottom. but i mean ive heard you cant expect to pick the bottom and coming in around 5-10% is pretty good

[Snowpony]

In reply to: Tylergold on Sunday 02/11/08 08:59pm

Hi Tylergold

if you wish to risk your capital, trade without a stop loss & your capital can easily be made very small very quickly, trade with one & if the trade goes against you at least you preserve something for another day.

 

cheers

 

[Tylergold]

In reply to: Snowpony on Monday 03/11/08 12:39am

so your saying if there is a couple of good days in a row take your profit? eventhough it may only be 10-20%. i know lihir lkes to bounce around.

[arty]

QUOTE (Tylergold @ Monday 03/11/08 04:48am)

I'm with snowpony, Tyler

Don't be myopically focused on one single stock; don't be overconfident that "you know it all".

Have a look at Lihir over the past ten years, then ask yourself how long you'd had to wait for a decent profit had you believed in the experts recommending Lihir at $1.60 in early 1999.

Look how the advice "forget stop loss" had affected your $1.60 by mid-2000.

 

Open your eyes and mind: Check a few other stocks and learn how to recognise channels and market action. And be very wary of people who complain "The Market got it wrong." It usually means that market reality went against their preconceived ideas. http://www.sharescene.com/html/emoticons/ohmy.gif

[flower]

In reply to: Snowpony on Monday 03/11/08 12:39am

S: Since Tylergold is still at school during trading hours, and unless he is lucky enough to be able to cart around a laptop all day, which seems unlikely, and since he is looking for a two month trade minimum seemingly based on fundamentals, and presumably a stop loss would be around the 1.80 mark, and given the fact the market is so skittish at the moment, in this instance--bearing in mind all the inpracticalities--that suggestion was made.

 

Your point taken nevertheless.

[Snowpony]

In reply to: flower on Monday 03/11/08 08:36am

Flower

my comments weren't meant to critical towards you, you have your way of doing things & I have mine.

everyone's stop loss level should be set according to their trading plan & that's the next point unless you have a written plan your also "dancing with the devil on the edge of a very large abyss", as you learn & experience "the market" you realize that there is many different ways to "skin the cat" & many different ways for "the cat to skin you".

Business plans should & do evolve along the way to suit the current conditions & thinking of the plan writer.

 

Most online & traditional brokers have conditional orders available to their customer base & since I think you should know your exit both on the upside & downside before entering any trade, TG can execute the trade out of trading hours then go to school.

 

TG do some paper trading to learn what sort of trading style suits you

make & take responsibility for all your own decisions

By all means ask as many questions as you need to so as to better educate yourself but never take a trade because someone else thinks it's good value only you can determine that

cheers

[marleon]

In reply to: flower on Monday 03/11/08 08:36am

G'Day Flower, I am assuming that your siblings may well be off your hands.

Mine however, the youngest at 14, so in what you and I would have known as first year high, now grade 8 in SA, just came home with a 'IT' bill for me where, (thanks to Kevin Rudds every child a lappy routine, which I don't disagree with) the school has taken it upon themselves to go for the top of the range identical for each and every child, thus the rudd subsidy covers just shy less than half and I am up for 1600.00 roughly over the next 4 years at 400 a year (which I do disagree with), and apparently I don't own it at the end of the day. !!!!!!!!!!! (latest whisper, needs checking.)

 

my, HOW THINGS HAVE CHANGED. and so I think there might be every possibilty that Tylergold will most likely have a laptop to himself and be able to cart it around all day, in fact be required to do so, and have the required access.

 

To that end any advice he can get from the pundits here the earlier the better, then all power to him and those that give it. It probably means also he may very well retire before I do, lol.

 

Cheers marleon. http://www.sharescene.com/html/emoticons/biggrin.gifhttp://www.sharescene.com/html/emoticons/biggrin.gif

[marleon]

In reply to: flower on Monday 03/11/08 08:36am

Just a bit more thought on this scenario, as TG is a schoolie, he/she would have no taxable income, therefore is cgt an issue or NO, considering there would be no marginal tax rate to issue it against, Just curious for any answer on the state of play here.

Cheers MARLEON http://www.sharescene.com/html/emoticons/biggrin.gifhttp://www.sharescene.com/html/emoticons/biggrin.gif

[flower]

I suggest we now shift this back into the LGL thread, but just like to make a couple of points:

 

Going back to when Tylergold first posted he asked "which gold stock". He then gave his reasoning for asking about the gold stock.

 

For a schoolboy I thought this a very adult approach, in that I assumed he had looked at the financial turmoil, and pondered--as many have--why Fundamentally gold is underperforming--and asked his subsequent questions.

 

Which is why I answered him the way I did.

 

I thought about discussing a stop loss, but on reflection decided it was better to encourage his entry--should he decide so to do--without clouding the issue with stop losses and how they should be set, and to what percentages.

 

So I make the point again: Tylergold is to be congratulated on his approach, but Rome was not built in a day and there isn't, IMHO, any point in clouding his initial thought pattern with the next step, which I think is more likely to be a travelling rising stop loss than a dropping get out stop loss. At 15 he has the ultimate luxury of TIME on his side, whilst capital preservation is vital, there are even then very different ways to approach that issue, but thats better left for another time, and another place, and involves the issue of annual percentage returns on trading capital, which I dont think is Tylergold's main current thought pattern.

 

Other point Id like to make is that again IMHO Tylergold actually looked at the whole Gold situation before asking about "which stock", so he isnt besotted with one stock, and if he were LGL is no different to all unhedged gold producer stocks in direction of late.

 

 

[flower]

QUOTE (marleon @ Monday 03/11/08 10:38am)

M: I'm more likely to be Tylergold's Great Grandfather! CGT: Now there's a thought--if one didn't have the "luxury" of a SMSF, one could lend T a few thousand and pay no GST!