Fagin’s Trading Diary 21/7/2018

FINANCIAL INDEPENDENCE

THE FAGIN WEEKLY REPORT 21/7/2018

Time and tide will wait for no man, saith the adage. But all men have to wait for time and tide. Charles Dickens

The end of another week in the Great British Trade Off and my long positions in Cairn Energy (CNE), Evraz (EVR) and Highland Gold Mining (HGM) are all still open.

I am carrying a loss of -£1566 for the week and this is almost entirely due to me holding HGM through my stop at 139p. The excellent Sharescope chart shows my buying point at 142.165 on the 27th of June and the way the price has just slid away from me.

The green arrow is my buying point of 19000 shares, the red line is my stop loss!!!!!!!!!!!!!!!!!

This is so frustrating. It’s the same psychological problem I always have. I hate taking a loss and generally as you know I do my best to leave that job to Humbug!

I will be ripping off the plaster and selling these shares on Monday and then having another go at seeking financial freedom next week.

PLEASE NOTE, I’M SELLING MY HOLDING IN HGM BUT IF YOU HOLD THIS IS NOT ADVISE. PLEASE DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS.

So, I need to learn from this experience and intend to. As one of my mentors David Paul says ‘I am only 8 trades away from where I want to be’.

I’m going back to square one and am publically committing to taking the next 8 trades exactly as my system says I should.

As always, looking forward to seeing how Humbug has fared this week in the Great British Trade Off.

Yours Fagin