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Online Share Trading

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Those green arrows this morning ...

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CHATTYCHAT
Super Contributor
are making my day. As a newcomer to OST I really had the impression that the stock market is the place where participants throw their toys out of the cot, so to speak. Isn't there an overreaction because of all the techniques and stuff? Coming to think of it: each trader/investor/watchamaycallit follows TA's and trends and stop losses, which in each case is what the guy next door does, which creates the histeria, which triggers new patterns. It is a playground with enormous pitfalls due to the speculative nature of the instruments and unpredictable response of participants. YES! it is a wealth creating invironment, but simultaneously each participant has one motive: to screw the other. This is the place where angels fear to tread. OMHO and expressed in non-scientific terms. Good luck to you all...
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14 REPLIES 14
Preston
Super Contributor
In italian ,the follwoing phrase hold true "Ogni fiera in amore e guerra"
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CHATTYCHAT
Super Contributor
Like in "all is fair in love and war" ? Very appropriate phrase, Preston. Wishing you well and lotsa da money.
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Not applicable
Some of those green arrows are fading!!!!!
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Pleiades
Frequent Contributor
The Stock Market is an efficient channel for transferring wealh from the impatient to the patient Not sure whose quote, but a few down days will shake the speculators out - many of whom think it's easy to make a quick buck. It is, in a bull market, but the real test is when things are overdone and start falling back.
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Preston
Super Contributor
When that happens..you fall back on Brazen advice. Hold for at least 3 years.
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Preston
Super Contributor
Mr C.. How is your portfilio doing?
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CHATTYCHAT
Super Contributor
This is very appropriate. The 3-year view was fortunately my strategy from day 1, also (especially so) because of the taxman scenario of which I wrote in a few other postings. AND: I only take the taxman seriously because my intention is to walk away with a profit, attracking only the CGT.
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CHATTYCHAT
Super Contributor
Out of 8 items at present only 1 is VERY stable and traded sideways during the past 7 days with an UP today until now at 12:20 - but overall I am negative 5,8% based on ruling price against acquisition :-)
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steve_1
Frequent Contributor
Does anybody out there TRADE STX40 successfully and if so, what would the min amount of shares to hold be?
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CHATTYCHAT
Super Contributor
Well, the remaining green ones are still good for me... but with the all shares graph falling all the toys might be out of the cot soon.
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Preston
Super Contributor
Agreed Mr C. As for me, i was up R5000 , but then i was reading a Warren Buffet book where he stated that many people sell on initial bull run, so i decided to see where this bull ,would take me,but unforunately it cost me R5000 and possibly buy the same stock at a lower price..
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CHATTYCHAT
Super Contributor
Preston, at least you have the opportunity to add shares to those which have taken you to an area of earlier confidence and potential profitability. That's the thing with writers and gurus: they create ideas for strategy in the market but the decision remains with you. I have read forumites' earlier comment today, i.c.w. unfaltered belief in stop loss action. But investopedia is adamant: "If you're tired of stop losses, learn how to adjust trades to turn losers into winners!" Thx for talking.
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Preston
Super Contributor
Agreed Mr C. I will leave you with a quote which i love and is comes from Warren Buffet Book and it goes something like this " Somebody sitting in the Shade, because somebody had planted a tree a long time ago"
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Heavy_D
Occasional Contributor
I've got a couple shares in the STX40 but not much has happened,been arund 2-3 months I think and only looking at a 7,7% return after costs. Was hoping to leave these for a year or so and add to them as the market moved. Hasn't had any major moves yet though
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