Medinah Minerals (MDMN)

[TraderRich]

Hiya David...

I learned something many years ago which has been extremely helpful to me when dealing with people. What I learned is to sit back and listen, occasionally chiming in with comments and questions that will give me more opportunities to listen. In a surprisingly short period of time a person will tell you practically everything you need to know about them. The message boards work very much the same. People ramble on and tell so much about themselves...quite ignorantly usually. Of course the audience needs to pay attention and "read between the lines" so to speak.

Our friend "miningman", (ironic name huh?), has basically (and even literally) told us that he knows little to nothing about the process that Cerro & Medinah are likely going through, that he has likely done no DD and that he invested over his head some time ago based upon rumors/innuendo/hearsay that was likely posted on message boards by people he knows nothing about and took no incentive to get more acquainted with.

Here's a lesson to all you new to the game of investing/trading that I eventually learned after losing ten's of thousands of dollars myself when I was younger and dumber than I am now...

Before you put any money into any investment or trade, HAVE A PLAN! If it's an investment, make sure you KNOW this going into it. Make sure you have an idea of where you expect the price to go. Make sure you do enough DD to feel confident in putting your money in BEFORE YOU PUT YOUR MONEY IN. STAY ON TOP OF YOUR DD... and if something should change that lessens your confidence about the investment then DO MORE DD UNTIL EITHER YOUR CONFIDENCE IS RESTORED or until you decide to BAIL. Once your confidence is gone it is time to SELL! PERIOD!! You can always do more DD and get back in if you regain confidence.

For trading, the plan is much simpler and easier to follow. Use your TA to find an entry point. By the time you buy your shares you should have a general vision, based upon your TA, of where you expect it to go. The single most important thing to do in trading is to have a STOP-LOSS. (The single hardest thing to do in trading is to USE the STOP-LOSS. The single most painful experience in trading is what happens as a result of NOT FOLLOWING YOUR STOP-LOSS... (after you use wishful thinking to SABOTAGE that STOP-LOSS by watching the price fall below it while you tell yourself that it will come back up). Set parameters for an EXIT from the trade. Have a general idea of where you're going to sell when the trade is profitable. (A good trader has an idea of this BEFORE THEY EVEN BUY).

I would bet great sums of money that better than 95% of all of the bitching that occurs on these message boards is the result of NOT doing the above.

Now I'm looking forward to see who's gonna step up and call me a fool.