I bought AGL at 17850 then again at 15700.It's obviously dissatisfactory to watch hard earned money declining,vanishing in front of your eyes,vanishing as I'm typing here...My question is,how do you sell short?I'm a new trader and all I've done until now is buy and sell when i've made a profit.In a bear market that's pretty hard to do! Please assist,thanks!
Eddy, please be careful. It's such a mad time to trade that you have a high chance of making a mistake. If it's hard-earned money, wait until you feel safer. Shorting etc might or might not work, and it's as scary if not more so because stocks like to wander up as soon as the bad news slows. Take one of the courses if you like, but try practice "on paper" and see if you would have made money. If you're investing for the long term: When you buy a stock, you don't lose until you sell. It's dropping now and it might take a while to get back but selling just means you ensure you made the loss and you lose on the trade out/trade in fees. Think about it calmly, not when you see red everywhere :)
When Anglo started their fortunes were based on gold and diamonds under the great chairmanship of the Oppenheimers,a great blue chip company was built,then in later years they decided to carefully diversify,which was a good policy,and added coal to the base,then platinum....Later base metals were added as their price took off,but i fear no account was taken of the fact that base metals can go into the doldrums for years at a time....The final nail in the coffin was when Billiton started performing better than Anglo they decided to weight the company towards these metals and minerals and DIVEST THEMSELVES COMPLERELY FROM GOLD, the original building block that started everything!
Traders we need to listen to the charts not the palookas that make money from TV programs. How do you listen to a fisherman that catches no fish best listen to those that do, heres the thing they ain't going to tell you where the fish are or there won't be any fish for them. So this is no easy game if it was we would all have retired by now.
I make a point of not watching but in the unlickly event that I do happen to catch him...I have never ever not heard him punt a gold stock...now true gold shares have had a bit of a rally but they are still below the levels they were when I first watched his show...so in 4 years of a bull market and 2 years of a bear he still has not broken even..that be a quack because in that time anybody on the forum has done better.