My advice on selecting stock and time-frames!!
I no longer try to select the most gorgeous, in beauty parades of attractive stocks.; nor necessarily reject others because they are plain. I value character, above appearance.
Tempestuous intra-day stands, and fleeting swing flings are out. Too risky! Much better, at least for a start, are platonic relationships, based on mutual benefit. It’s a help I think, if you are already acquainted.
You can’t possibly possess them all. Stick with those you can afford, and know their strengths and weaknesses, I say.
Blind dependency is out. If things are not satisfactory, opt out. Even if you are married to a stock, it is preferable to divorce than to be bled dry. Sometimes a trial separation is helpful, and may re-ignite the relationship.
But I am willing to be patient to consummate the friendship in a permanent union, but only if the stock is worthy. I look dimly on partners who try to exploit my generosity or naivety, by always taking, without giving anything in return. I hate beggars.
But I do like to sift through the ranks of the down and outs, looking for those with the ability to improve their lot, and return to respectability.
Break-ups are invariably costly and hurtful. I would rather avoid them, and the recriminations that follow. Could I have foreseen and avoided them? There is no point in mulling over what might have been. I try to learn what lessons I can, take responsibility for the failures, and move on.
After all, there are more than 2,200 from which to choose, in the ASX.
Categories: Trading opinion