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Bullboard - Stock Discussion Forum Peregrine Diamonds Ltd. PGDIF

"Peregrine Diamonds Ltd is a diamond exploration and development company with interests in diamond exploration properties located at Nunavut and the Northwest Territories in Canada and The Republic of Botswana."

GREY:PGDIF - Post Discussion

Peregrine Diamonds Ltd. > Silverwhere,
View:
Post by mill44 on Jul 27, 2017 3:19pm

Silverwhere,

it is not about perfect trades, it's about advocating to buy and hold a stock with a chart like this:

https://stockcharts.com/h-sc/ui?s=PGD.TO&p=D&yr=5&mn=0&dy=0&id=p59017430925&a=536735440

The right side is unfinished, we will see where it ends up (or down, Cudjo would say) mid August.
It has to close over 31c without dropping to or under 10c for the chart to indicate that it is smart to risk holding it when it pulls back, let alone adding to your position.
You have been telling me that I am wrong for over a year now. Show me. Show me now, don't tell me that we will see in a year or two. If you are right about 1$, then what's wrong with me telling people that it is safer to wait for evidence? How is a 3-bagger with some certainty so much worse than a possible 5-bagger with a good chance of 50% or more drawdown?
You posted a nice list of why traders and investors lose money. If you look through it you will realize that every single one of those issues can be eliminated by having a set of rules about trades you take, how long you hold them and solid risk management.
Buying and holding PGD is a gamble right now because there is absolutely no evidence of an uptrend. There is nothing wrong in taking a gamble occasionally, but that has to be the exception, not the rule in your trading. Greed is what kills you, fear is what stops you from making money. Rules eliminate emotions.
Comment by griefman on Jul 27, 2017 3:31pm
Mill, at times I wonder who you are preaching to? You seem to have all the answers, but seem, seem to NOT follow your own rules, unless you have been less than honest about your trading patterns with PGD? I know, I know, you will come up with some logical explanation, and thus you will always be correct, in your mind anyway....
Comment by griefman on Jul 27, 2017 3:34pm
Mill, can you honestly say it was your intention to be long on PGD for what, 2-3 years, or longer?  Was that your PLAN?
Comment by mill44 on Jul 27, 2017 3:49pm
Kodiboy, I am not trying to convince you or anyone. Silverwhere is saying that he has the right to protect his investment and he is going to do it fiercely. The funny part about that is that pushing PGD on people on dreams and fantasies is actually hurting longs. It helps traders, but hurts buy and hold believers. How many times did people say shake the weak hands out? What happens when a stock is ...more  
Comment by griefman on Jul 27, 2017 3:54pm
Attila, that's what you say a lot, not trying to convince.  I get that. My direct question to you stays the same....was it your original plan to buy and hold Pgd for 2-3 years or longer?  Simple question that requires an honest answer if you choose to answer, which is your choice of course...
Comment by mill44 on Jul 27, 2017 4:05pm
I probably answered that question a few times before. I did not buy PGD because of the technicals. And which of my posts indicate that I believe in the buy and hold strategy? I don't buy stocks with the idea of holding them for years. I buy them with the idea of selling them as soon as I can for a 10X gain.
Comment by griefman on Jul 27, 2017 4:14pm
Ok, an honest answer is all I was looking for, and I apologize if I have asked you before...and to add, I can say I don't ever remember you stating your personal strategy in trading. So obviously PGD did not perform as you thought, as you said, no one is 100% correct, ever. Would you sell to break even after all this time? Im really not trying to bash you, I'm done with that here....not ...more  
Comment by mill44 on Jul 27, 2017 4:32pm
Kodiboy, as most here stated, the fundamentals are compelling. They are not enough by themselves to buy and hold, but enough to have a core position. A few has said it here already that management has provided enough opportunities for people to lower their risk significantly. Some used them. Eventually something will make the market rerate the stock. Maybe, as Cicerelli said, the summer program ...more  
Comment by griefman on Jul 27, 2017 4:41pm
Ahhh, not completely....
Comment by mill44 on Jul 27, 2017 4:18pm
Volatility and trend are important in a strategy. Buy and hold makes sense with low volatility and dividends. Holding a strong stock until the trend comes into question seems logical. I am sure everyone who ever traded, successfully at least, agrees that emotions are your worst enemy. Rules based trading eliminates or at least substantially reduces emotions. Rules should include entry, exit and ...more  
Comment by griefman on Jul 27, 2017 4:26pm
I agree with your concept, but I believe as logical as it sounds, it's almost impossible, IMO, to not be emotional to some extent while trading as life gets in the way sometimes and leaves you no choice at times...especially if it is your number one income provider, which can make it an enormously stressful occupation.  Thank god it's not that way for me!
Comment by mill44 on Jul 27, 2017 4:44pm
No, probably it is not possible. That's why I said that rules will eliminate or at least substantially reduce emotions. As long as your emotions are not interfering with your performance or the quality of your life, there are ok. They might even help. Apparently your brain remembers the sensations an event generated. That's why, even if you don't realize it, you will try to avoid or ...more  
Comment by griefman on Jul 27, 2017 5:17pm
So true, some would call it habits, and sometimes, especially when you are not aware, they are hard to break, or you may not want to break them at all...some habits are good, some not so much...I'm rambling now!
Comment by Silverwhere on Jul 27, 2017 5:37pm
Sorry mill, work got in the way. Your cute chart doesn't PREDICT THE FUTURE. Never has, never will. Your technical tea leaves only tell you what you want to see - and only while glancing at your rearview mirror. Why do you even bother reading dried up technical tea leaves on a no-buying-interest zippo-volume EXPLORATION stock anyway? Pro traders are typically momo chasers. What a complete ...more  
Comment by Silverwhere on Jul 27, 2017 6:48pm
Who wants to read the painful truth about imposing TA on explorers? I get that 1-star . . .
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