"When is the right time to bottom fish? Is it safe?
At what price should I buy??"
We've all asked these questions at one point.
And thought it was this easy
I tried experimenting on a LOT of setups.
I went from this...
(Just watching the stock from afar and do nothing.)
To this...
(When It fails to go up and I end up Ipit.)
Or this...
(When I enter too early)
Or worse....
Bottom Fishing is very RISKY.
The one main reason being that you are fighting against the trend.
Just ask those who bought ANI at PHP10, 7, 4 or lower because
of "good fundamentals" or techs being oversold due to the low RSI.
"Respect the RSI my ASS."
So be careful when you come across fundamental gurus
who talk about technicals. Or technical gurus who suddenly
talk about fundamentals - Coz that's just funnymentals and
other made-up crap.
On a sidenote, be careful about what I post and what I tweet.
Coz I'm a crazy trader. And a fictional one at that.
"So why bother Bottom fishing?"
You might ask.
I don't know about you.
But I bottom fish for these reasons:
1 - Rewards.
Yes it's risky. But if you get it right and you bought with volume,
you might just get a ticket to "financial independence-land."
2 - Bragging Rights.
I'm a very competitive person. And I love the feeling of
putting haters and gurung ulols to shame.
And the fun part of it all is...
Contrary to popular belief,
It ain't rocket science.
"But Zeeeee! How do you know if it's the bottom?"
Simple. I don't.
(Here's a simple flow chart)
You'll only get to see the bottom, once you see the 'ball'
actually reach the bottom and starts "floating up."
And from there, you react and press the attack.
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Example
Tried to bottom fish but barat bids denied.
Bought 1.23-1.25 for first tranche base then ended
up buying all i could at the close (Sagasa Order).
Day 1 Of Bounce
Here's the crude selling plan.
Here comes Day two of the bounce.
(Added 19k. OC ako eh.)
(Added 19k. OC ako eh.)
Then Just before selling.
(I love taking screenshots before I sell.)
Some would say,
"Why would you sell?
You've got such a low AEP!"
Simple answer to that is....
While others cheer that they could at least break even.
I joined the minority in cheering to enjoy some profits.
Total of 3 Days hold.
No hype. No rumors. No tips. No gurus.
Just the chart and you.
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CASE STUDY CLOSED!
Happy weekend everyone.
