I am very confident in my buy-in...I don't use a stop-loss on buys even if I lose 10% in short order. Remember I don't pick junk...I pick solid companies in a bullish trend so a minor setback usually corrects itself in a day or so.
I do use stop-loss orders when I believe a stock has run its course. I will not sell directly because the stock still might have something in the tank...so I set a stop-loss far enough back that I don't expect it to trigger on the next day....actually I set a Limit Stop-loss. Here I will set a range where I am willing to sell the stock....If it plummets through that range I won't automatically sell and I will then look at the situation as to whether I will sell outright or not....most sudden drops have a pullback so I won't be selling at the bottom.
I have the feeling that you are a day-trader and that requires a different skill set than I really use though. I hope you use TA to enter and exit your trades...not commenting on your trades (as I know nothing about your trading habits) but most day traders don't have much TA skills and they trade scared IMHO...they enter too late and exit too early.
Like yourself I use fundamentals to come up with a watch list, then price action to find entries and exits. My trades may be held for a couple days,a couple weeks or in some cases years.
I don't use indicators other than trend lines. My feelings are that indicators just give a visually pleasing picture of what price has done, and if you pay attention to what price is doing you can be one step ahead of the traders who rely on indicators.
I haven't spent much time with mining or Oil&Gas because the fundamentals I look for don't show up. Miners for the most part plow all their profits back into new exploration. They have a terrible record for bringing projects in on budget.
Right now I'm building a position in TCM. Picked some up on Jan 14 on the breakout. Still holding.
It is hard to find the Truth when you start your search with a preconceived notion of what the Truth will be.
The following user says Thank You to deaddog for this post:
Well I had to chase this stock as it reversed tack at the beginning of the day and did not dip to $2.75 as I expected.
I don't panic and change my order immediately...I was greedy for a nickle off/share...so I ended paying a dime more per share than I had to....but this is not important to me because I feel this stock has a lot more legs. This is a solid company with solid revenues and as I found out, apparently well managed. So as long as the price of gold rises, well the price of BTO's shares will follow.
It is when a share price approaches a resistance that I consider (using those 4 charts I showed earlier) as to whether or not to continue to hold, add to my position or sell...the price can oscillate all it wants between support and resistance and I won't touch it....unless I have found a better place for the money, of course.
For the American traders following this thread....B2Gold Corp also exists in an American listing
As you can see the charts match except for the latter is in $US so exchange rates show the difference in price. Also look at the volume difference...the American stock has a volume of only about 2 million shares traded, where as on the Canadian TSX about 7 million shares traded. Yep...Canadian companies don't get the attention of most American investors...but they should in some cases.
What interested me in the American listing was there is an after-hours trade of about 0.5 million ....wow!...nice activity.
Sorry for the wrong assumption. I do use indicators and they are not just pretty pictures to me. I went through a lot of detail to show the charts I use. Many people try and search for the "holy grail" indicator and it does not exist. I use a selection of non-competing indicators and draw a consensus from them....I have not found anyone else that does this...but I have spent almost a decade developing this idea...it works well for me.
Thompson Creek Metals Company Inc. [TSX:TCM] [NYSE:TC] an interesting company...you don't run into a molybdenum mine very often and a commercial one at that....I like that it is an American company that also lists in Canada....
It carries a LOT of debt...almost $1Billion total and its net revenue is pretty rocky from quarter to quarter
looking at these charts it looks like the price of the metal is recovering a bit this year. Since its major use is in steel production, perhaps this is an indication that this industry will make a comeback this year.
this chart shows neutral right now...we are entering a Bollie tunnel...both the MACD and Slow Sto are flat while the BB's get tighter...this chart is not giving a clue yet as to direction...if the MACD and Slow Sto rise when the BBwidth rises...you will be happy....if the MACD and Slow Sto fall (neg slope) you will not be happy.
TCM: Lots of debt but that money was spent upgrading the mill at the BC Moly Mine and bring the Mt Milligan gold mine into production. I expect rising revenues as they work the bugs out and rising gold price can only help.
As far as the chart goes I see a sell off on volume to a new low then the volume dried up. No more sellers. Since then we have an uptrend with rising bottoms telling me that there is more demand than supply. Volume is drying up but buyers are stepping in with a little higher price each week.