GKP

Just to say hello to you folks here.

I'm a semi-retired middle-aged muppet who 2 years ago had too much spare time, a little spare money, dreams of easy riches and an appetite for the excitement of a little risk.

Having seen a chap posting on a sports car forum that he'd bought GKP and doubled his money (late 2011 IIRC), I stumbled like a lamb to the slaughter into the turbulent world of AIM. All the mistakes in the book? You bet! Bought in to GKP, XEL and BLVN all on the up (or so I thought...). Looking back I've been a complete pr!ck.... NO research and NO idea what I was doing/getting into. 'Averaging down'? Oh yeah: done a lot of that! So here I am with a few tens of thousands 80% in GKP (220 average...) and 20% in XEL (112 average). Needless to say over 50% down overall.

I've always been (and still am) on the iii BBs as 'No Quarter' - a nickname a few here might recognise. I've always has a mild curiosity about TA , having noticed Jackozy's posts being uncannily accurate, and also read with great interest STMs posts as well as BMU's. Always watch out for pj66's views too.

So here I am under no illusions whatsoever that I've made a hash of this. I'm also under no illusions that TA will take some getting to grips with. But in addition to being a bit of a naive over-boisterous puppy at times, I am when I choose to be highly analytical and ruddy determined. Being PhD-educated helps as research is a breeze to/for me ( OK, OK, so why didn't you do some 2 years ago I hear you chortle!).

I've taken a look through some posts here this evening and am excited to have made the move over here to GET LEARNING. I'm certainly not expecting this to be in any way an easy route out of the abyss/ panacea for all of my investing problems, but I would like to cautiously embark on something of a modest damage limitation exercise if I can.

So thanks to all here for sharing their expertise and I look forward to engaging with you as and when I'm able to contribute a little something. I'll save any emotive blather for iii!!

Best regards to all,

EGH

Hi Diver,
Many thanks for replying. As 96p had held twice in last few days that's why I asked the question whether it should now be regarded as a support level. I understand the good advice though and that it cannot be relied upon as support. 86p being a stronger support level and failing that 64.
Great site here, wish I'd been aware of it before ')

Mine the Money,

Here is my GKP chart.


dl.dropboxusercontent.com/u/7238706/Gulf...Ltd%20%28view%29.png

Levels of support/resistance fall at significant turning points in that the market turned around and went the other way. They are marked on this chart in bold orange. You need to look for instances that get repeated, and the more times they are repeated the stronger the support/resistance. Try and make it at least three times.

In my opinion searching for 'minor support levels' is trying to find an excuse for making the trade and getting it wrong. I don't mean this in an offensive manner, we've all done it, me more times than most, but the sooner you learn from the mistake and move on the sooner you will make profits. Don't be afraid to post here and get advice: there are many can and will help. I look forward to you making a contribution to the BB.

Hi Remo,
Just came aboard to look around your site (from Steve Jackozy's FTSECharts), looks great here.
Just one question about your GKP supports, can 96.2 be regarded as a minor support level?

Thanks

My stop loss which I raised last night at 98p did not get setup to later on I guess. That is good and bad though.

Always buy at a support. Sounds like good advise, now is the rule gold or can it be +- a little bit? e.g. if the support is 800p could you put a buy in for 801p or 799p?

Remo would 100p be an important level therefore 98p would that be logical, am I wrong to conclude that?

Thanks for all the advise so far.

Wise words from the Master Mouse lol!

There is so much resistance ahead on this stock now that it is very unlikely to run away. 143/4p is a major barrier as shown on remos chart and remember, it had a LOT of volume in that gap down. Remember also the gap down from 230p on massive volume? Went it went to test that later, it didn't even manage to close it properly there were so many sells/shorts just below it and it's never managed to close above 230p since. That's the power of high volume gaps. Look at BLVN 53p for another (and check the volume). 143p will almost certainly be heavily defended by the shorts placed there imho.

You cannot fight the Big Money and win.