ASX newbie

The week has gone by and AUZ (after I made my profit for the second time this week) is still going upwards.

Turnover was a healthy 91.9 million. at a sp of .086 an increase of 17.8% on the day.  I bought in again start of trading and put my sell order in before I went to work and tonight I have made 12.5% profit for just one day.

I know I could have stayed in and saved more brokerage fees , but I do not possess a crystal ball which shows me the future movements of a particular stock.All that I rely on is my “Written Trading Plan” on what to buy and when to sell. And I strictly keep to that .

As for my other stocks that I had ,MPO is still at what I sold it at and APG slowed down to .076. a 3% drop in sp, but my stop loss was set at .073 and the lowest it went tday was .074 so we are still in . volume was 3.3 million but buyers starting to pile up again.So will see what next week brings.

Now the surprise of the week was AEX the market did not like the news so they dumped the stock and the price dropped over 30% to 4.3 due to huge volume Shocking you say?

Did not bother me at all. Why? I had a stop loss in place which I had increased every day as the sp rose. I had it locked in to protect my 15 % profit. Which I recieved when the stop loss order activated.It’s another name for insurance.

The best thing is I rebought AEX again at 4.3  this is actually cheaper than when I first bought it over 4 weeks ago.

Has anything really changed ?? No the uranium is still there and so is the gold. Only part of the report came in and there is  still more to come. You just can’t predict how the market (read herd or lemmings) is going to react to any news Whether it is good or bad.

I have had an eventful, profitable week. Have no need to complain, as any profit however small or large it is still a profit

 And the main reason for this site is to help you to make informed decisionns so you too can make money as well. For that is what it is all about and that is helping each other. 

 Happy enjoyable profitable trading.