This is yet another Blog that I have had conceptually parked in the WheelieBrain for perhaps even as much as a few Years but I never seemed to get around to writing it until now. It is without doubt part of the infamous ‘Stoploss Debate’ and funnily enough a couple of Weeks ago I innocently put out a Tweet saying that I had decided to write a Draft on this very subject over the coming Weekend and simply by sending out that Tweet I then sparked off a massive discussion on Twitter about whether or not to use Stoplosses and we even got a Poll going where something like 58% or so did not use them (bear in mind this was a Self-Selecting Poll though and most of my Followers are probably more at the ‘Investor‘ end of things than the ‘Trader‘ end).
Anyway, Stoplosses are the subject of many more debates to come I am sure and no doubt I will be writing in my Blogs about them for many Years to come and I have already indulged in this subject area many a time in previous Blogs and I will include some Links at the bottom of Part 2 to some of those earlier scribblings.
Well actually if I am Barry Manilow I don’t. When he sang those classic lines of MOR dirge, “I write the Songs that make the whole world sing”, he was totally telling Porkies - I heard that on Lisa Tarbuck earlier and the irony really appealed to me.
I had a lucky escape today (no, I didn’t nearly buy a Barry Manilow CD), as I was hoping to get the to the MotoGP Bike Race at Silverstone but I was watching the BTsport Coverage yesterday of the Qualifying Sessions and it was pretty clear that the Commentary Team and the Riders etc. were fairly confident the weather would be poor today and there was a big chance it would get cancelled. As it happens after many delays and much mucking about, the Race finally did get cancelled at about 4pm and you gotta feel sorry for all the Fans who had stoically stayed there in the hope they would see some Bikes - I guess the only glimpse they got was earlier in the day when the Bikes did a Sighting Lap and lined up on the Grid, only for them to leave the Track when the first Delay was announced.
This Blog has absolutely nothing to do with Stocks and with the Market in its current ungenerous mood it seems a good time now for ‘Something completely different’.
A few Weeks back I did my usual Weekend Blog and included a Link to a YouTube Video of BBC Top Gear which came from the Last Episode of Season 2. Sadly since then the Video is no longer available on YouTube due to ‘Third party Copyright Infringement’ but my mate @InvestingMartin did some poking around and managed to find it here - thanks chap !! You need to scroll to 33 mins ish:
Following on from that, I have had countless questions about what it was like to appear on Top Gear and I think the best way to respond is for me to produce a Blog about it, so here it is.
I probably didn’t hear it - I have had some sort of problem with my Left Ear for a while and I have been shoving that Earex Olive Oil stuff in it for about a Week and now I am at the stage where I am still partially deaf but I am not sure if the Ear is the problem or if it is because it is full of Oil !! I think it is time to stop pouring Mazola into my lughole.
Stoplosses are such a funny subject area - there is nothing like it to provoke a heated and busy discussion on Twitter and I merely mentioned that I was thinking of writing a Blog related to this and it kicked off a torrent of Tweets on Friday !! Anyway, I have produced a decent Draft of the Blog and I will mention that more in a bit.
This is the Final Part of a 3 Blog Series produced by @vilage_idoit with a focus on Short Term Trading and how to make Money consistently from Junky AIM Stocks - the sort of stuff you find in the WheelieBin. If you haven’t read Parts 1 and 2 then you can find them here:
Please note at the time of publishing this Guest Blog on the 17th August 2018 the Books that are under the ‘Recommended Reading’ bit of this Blog are not yet in Wheelie’s Bookshop - my intention is to shove them in their over the next few days. However, all the Books he mentions in the Bibliography are in the Bookshop.
Thanks again to Michael for producing this excellent work.
Dead Fussy about Quality
It must have been early Last Week that an Interview Video with Warren Buffett was doing the rounds on Twitter and watching that inspired me to bash out a quick Blog Draft one Night Last Week and with a bit of tweaking it should be ready for Publishing once some other ones that are earlier in the Queue get their 15 Minutes of Fame.
In fact, here is the Video - it is merely 7.5 minutes long but in that time the wisdom that Warren Buff puts out is pretty remarkable:
Watching this piece of epic genius, it confirmed some thinking that has been ruminating in the WheelieBrain for some time about my Approach to selecting Stocks for my Portfolio.
To an extent I have always been fairly selective with what I have put into my Portfolio but my intention is to get a lot more fussy about what I Buy and indeed what I Sell from the Portfolio. Obviously there are 2 Parts to this - on the Selling side of things I have noticed time and again how as a Long Term Investor, selling Good Stocks too early has been by far my biggest error over time and I have put a lot of effort into avoiding this problem - the main ‘Solution’ being to TopChop rather than Selling entire Positions and thinking long and hard before any Selling Decisions.
This is the Second Part of a 3 Blog Series produced by @vilage_idoit with a focus on Short Term Trading and how to make Money consistently from those Junky AIM Stocks that we all know and hate. If you haven’t read Part 1 then you can find it here, where you will also find a summary of Michael‘s experience and capabilities:
This Part really starts to get into the ‘Nuts & Bolts’ of how he does things and once again a huge THANK YOU to Michael for providing this excellent text.
This is such a strange time for me on the Markets - I guess maybe all Summers are a bit like this but I seem to be doing less with regards to my Stocks and my Investing stuff in general than I have done for a long time. The reason behind this is really that I have no interest in buying anything at the moment and I am happy to just let my Stocks do what they are going to do and in the meantime I will get out and make use of the Sunshine (when I can because obviously in mid-afternoon it is crazy hot some days and it is hard to do anything) particularly with regards to sorting out my BMW‘s paintwork.
Fortunately I have made great progress on the Car and now I have just a bit of Lacquering to do and then I have to wait for about a Week before some areas I have painted and lacquered can be T-Cutted and Polished to get them nice. I had a bit of a result today because I did some painting on the Front Bumper a few years ago (the opposite ‘end’ to what I have been repainting lately) and it has looked very rubbish for a long time. I was looking at it and it occurred to me that if I got the T-Cut out and put some work into it (and my goodness it is really hard work when you are polishing by hand in this heat !!) then maybe it would look better. Anyway, I got stuck in and now it looks really good - it is about 9/10 and I am so pleased. Why the hell didn’t I do this a few Years ago instead of just looking at it and thinking “Flippin’ ‘eck, that Bumper looks cr*p”? - classic ‘Learned Helplessness’ psychology !!
My friend Michael (@vilage_idoit) is a highly skilful and successful Short Term Trader who fights with the Markets on a daily basis to snatch Profits from various situations and often this is around Buying and Selling those horrible Junky, WheelieBin-type, AIM Stocks. Quite often he would only be holding a Position for a few hours or so and I don’t think he holds a Position for many Days although he probably does this occasionally. This is not for the faint hearted and it takes a lot of ability to do it, but if you have the dedication and focus that Michael has then it can be done. One of the most amazing things is that he has only been involved in the Markets this way for a few years but the speed with which he has created an Approach which works and generates a lot of Cash for him shows just how exceptional he is. This is borne out by the fact that Michael does not ‘work’ and has funded his own Living Expenses etc. for several Years now. Bear in mind that I think he is still under 30 as well (ok, he looks young !!).
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