Lynas.. Malaysia..

I sold my Lynas holding for a substantial loss this morning...  

I guess it's all my own fault. Looking back, I managed this trade very badly... Damn!

Ok, let me go through my mistake:

1. First rule of investing : Does the company make any money?
2. Second rule : Does the product susceptible for price fluctuation that they can't control? i.e boom and bust scenario?
3. Does the company have any legal proceeding or issues in their operation?
4. Did I  apply stop loss properly?
5. Was the company's sp affected by any hype in any way?
6. Did I enter the trade, aware of those condition, but enter it anyway, because the price MIGHT come back up? (this trade was entered after a steep crash in SP) 

Just Another Day on the ASX..

Feeling the frustration ..lol

The drag on the US government started to bite me yesterday. I was watching and preparing to buy again. This time I had my eyes on MGX.AX (Mount Gibson Iron Ltd).  I sold MGX a short while ago for 0.82 which is turn out to be a good selling price. MGX price went down and down, it reached $0.70 two days ago.  I thought it would be great to grab it again, so I put a buy order at $0.68.

The US shutdown spooks people, and that's including myself. The ASX tanked and I got cold feet, I pulled out my order. MGX did hit $0.68, and I would have got them (it went up strongly afterward on the close).

That's fine, tomorrow I'll try again.. (But this did not happen..)

MGX was very strong from the beginning, up over 7% and the sellers are disappearing.

Many things happen this morning:

1. US Government still in shut down
2. Credit Suisse raised MGX from Underperform to Neutral
3. The Iron ore bears, Credit Suisse, has upgraded its price forecasts
4. Increase in MGX total Proved and Probable Ore Reserves, by 1 M tonne 

And I was left here, annoyed to myself for pulling my order yesterday