300
14th January 2008, 09:15 PM
Today saw one of the sell points reached. Here is where some of the discipline kicks in. We have rules for this portfolio to help other understand the 'game' of trading. One of these rules is set to protect our funds so that we do not lose too much on one stock. IMI hit the magical $0.025 at some stage today which was our automatic sell point at a loss of 15%. So 33,000 shares sold at $0.025 plus a $30 trade fee, make me lose the portfolio a total of $171.00 in just 7 days :o. The other way we could have gone is to hold onto the stock until it started heading up again, but with no news just yet (and plenty on the way) we shall put the money in the bank and look for another prospective stock to get us on our merry way.
I have a spreadsheet with a graph measuring the progress of the portfolio each day and I was going to post it up today, however, the laptop broke, so (as all good IT people do) I have a backup and will get it up as soon as I can to make things a little easier. By all means, if anyone (yes, even you Mod Ausaidan98) wants to recommend a stock to get into, please post up the reason and we can check it out. I have a couple of stocks that I am looking at currently but am happy to take suggestions. Keep in mind we only have $842 and we will have to allow for a $30 trade fee for the next buy.
So, getting back to topic, we have now hit our 'stop loss' target and have sheltered ourselves from a bad run down hill. As a brief reminder the ASX has been falling pretty steadily since November and this is a result of the US news (mostly posted in the morning's Brekky Edition - slight plug :)) and the last time the market was at the level it is now was back in August 2007. The light at the end of the tunnel should be when the US Federal Reserve releases it rate cut and I am betting it will be a 0.50 point cut which will have a markedly positive effect. Maybe we just save our bank millions until the day before :rolleyes:
I have a spreadsheet with a graph measuring the progress of the portfolio each day and I was going to post it up today, however, the laptop broke, so (as all good IT people do) I have a backup and will get it up as soon as I can to make things a little easier. By all means, if anyone (yes, even you Mod Ausaidan98) wants to recommend a stock to get into, please post up the reason and we can check it out. I have a couple of stocks that I am looking at currently but am happy to take suggestions. Keep in mind we only have $842 and we will have to allow for a $30 trade fee for the next buy.
So, getting back to topic, we have now hit our 'stop loss' target and have sheltered ourselves from a bad run down hill. As a brief reminder the ASX has been falling pretty steadily since November and this is a result of the US news (mostly posted in the morning's Brekky Edition - slight plug :)) and the last time the market was at the level it is now was back in August 2007. The light at the end of the tunnel should be when the US Federal Reserve releases it rate cut and I am betting it will be a 0.50 point cut which will have a markedly positive effect. Maybe we just save our bank millions until the day before :rolleyes: