Right - the message from the previous 40 times has not sunk into that thick skull yet. We are not your friggin fund managers. Form your own friggin opinions and ask us to confirm or deny. You have been around long enough now to know that whatever answer you get to this [email protected]$%@#$v stupid question is going to be useless if you don't have a strategy to trade it
you are the one who is being rude bud - by your continued abuse of this forum. By now you must surely have realized how annoyed forumites get by this type of question - and how many times we have repeatedly asked you not to do this - and how many cynical or sarcastic comments get posted everytime you do it. Form your own opinion!
the big Q FEK is what is your trading system. do you trade the RSI and under what circumstances. I, for example, use the SMA averages to tell me the direction of the trend. I pay no attention to what the share price is, like most people do, but the share price behaviour relative to the 50 and 200 day SMA is important to me. I also watch stocks that reach an all time high and wait for them to go throuhg a normal correction (about 10%) before I buy them. TBS is a good example of a stock that reached an all time high of R211 and then corrected by 10% before going back to reach another all time high. If you ask a question without venturing an opinion you will never get a good response on this forum and maybe you should stop doing that.
Thanks Sponono, your response was very insightful and I will definitely follow it. I am not a full time trader hence I asked the question without forming my own opinion. I only trade derivatives and am quite successful at it. I have been trading CFD's in gold stocks and have now ventured into other resource stocks and with RSI at about 58 for Anglo just wanted a professional traders perspective.
Mark, sure one has the right to ask whatever question they want, but the answer will invariably at the same level as the question asked. One must do their homework first, there are hundreds of books, free courses etc, with information on investing, and once they've learnt that they can move onto various trading instruments.But we get posts by guys who are trading CFD's and SSF's in the hope of "get rich overnight" and you can tell by their posts they are going to get slaughtered.Is it any wonder that there are hardly any posts (regarding the market and shares) that are worth reading.That is why a lot of guys that used to contribute have voted with their feet. Skaap is one of the few remaining here that talks sense.
I agree that Skaapjop has very valuable insight but there is a way to give constructive critisism. I dont think hurtful comments e.g "thick skull" etc achieves this. Maybe a little less arrogance and a bit more understanding would be a better approach...
FEK,not a buy based on RSI but could be a buy based on other technicals, but not on daily or weekly RSI alone. We had the bid downside...now ANGLo is trading sideways(daily charts) according to the genral market direction....so RSI useless. Also , STOCH gave buy signal some time ago and will soon be overbought...with AGL reaching the upper end of the sideways channel(could breakout or breakdown)
Mark, I tried that. A lot of us have tried that. Yet the same question keeps getting asked by him. Look up his previous posts, and see how many times a lot of us keep telling him to form his own opinions. What would he have done if I had simply said - ja go for it, buy Anglo, and buy lots. The answer to his question would be of no use to him because he has no strategy. And we have told him repeatedly (and I am not hte only one), that if you have no strategy, you cannot make money. But he won't listen - he keeps asking the same contemptuous question. So now I am giving him a contemptuous answer
We haven't had a trader blow out on this forum for some time (or at least not one that admits it). There was a guy a year or two ago that lost over R1m in trading (in a very short time), and others I have seen that blew out 2 or 3 times over. But the signs are always the same, they keep asking the same questions over and over and over again, they keep repeating their mistakes over and over and over again and they keep making the same inane comments. This industry is worse than gambling if you are not careful. At least gambling is regulated - and difficult to leverage. There is no limit to the whole you can dig for yourself in trading, if you do not apply yourself properly
skaap, all you say is correct but like trading best to leave emotions out ....what you say about gambling is correct because gambling is an ENDGAME....trading(even investing) can be a never ending game