My Worst Pick Ever

[Sean K]

I've had a few worst picks that I should have sold.

But NOTHING compared to the worst picks that I should have held.

 

[tech/a]

I've had a few worst picks that I should have sold.

But NOTHING compared to the worst picks that I should have held.

Why don't you have a re entry stratagy?
If a stock does an about face and blasts off to new heights it will be just as obvious as the first time you bought it.
I've had gaps down and de lists but the portfolio has never suffered more than a 12% drwadown from a delist and 3% from a gap down that drawdown was against OPEN profit so no big deal.

 

[Sean K]

Why don't you have a re entry stratagy?
If a stock does an about face and blasts off to new heights it will be just as obvious as the first time you bought it.
I've had gaps down and de lists but the portfolio has never suffered more than a 12% drwadown from a delist and 3% from a gap down that drawdown was against OPEN profit so no big deal.

Yep, lesson not learnt. I did it OK for a while but emotions got the better of me.

 

[JimBob]

I brought FWLO - options in Ferrowest a few years back, i paid up to 50c for them only to see them drop to 40c then 30c. I remember thinking 'surely they cant drop any further', boy was i wrong. They ended up at less than 1c before expiring worthless this year. Had every opportunity to sell them on the way down but they ended up just being a lesson for the future about being more conservative with options.

 

[burglar]

I brought FWLO - options in Ferrowest a few years back, i paid up to 50c for them only to see them drop to 40c then 30c. I remember thinking 'surely they cant drop any further', boy was i wrong. They ended up at less than 1c before expiring worthless this year.

With my first experiment in Options, I remember thinking they can't drop any further. Learned my lesson just like you.

EXMOA_Excalibur Options: I hold too many, shifted some today at $0.001! Beer money really, but it is now my beer money, not someone else's.
Two directors retired yesterday! I don't take chance on whether they were good or bad directors. I just know the price may move. They can do 1 for 10 maybe worse - or sit on the floor till expiring worthless *(Dec 2012)

Had every opportunity to sell them on the way down but they ended up just being a lesson for the future about being more conservative with options.

You buy options cos they're geared. You can make more. So you get greedy! "I want more from these" and bang.

Thank you for sharing,
burglar

 

[burglar]

ALL Reports found at ASX using Code MGK

http://www.asx.com.au/asx/statistics/announcements.do

I get the feeling all of you already know the MIL / MGK story.
Shall we go on?

Or is it the sucking of the eggs?

Where were we?
Oh yes. December 2003 with 9,000 eggs in one basket.

Anyone notice that alternative sites for the factory were under investigation?
If the factory was to be built in Victoria or Queensland, then the Fixed Price Contract would be null and void.
There is a report actually mentioning the need to get new Fixed Price Contract.

21May2004 Capital Raising further diluting the Share Price by issuing ever more shares.
early March2005 Kiss-of-Death Consolidation of shares; 1 for every 20

More skywriting, this time evaluation of overseas sites:
Magnesium Smelter moves to Middle East to achieve World’s Lowest Production Cost

Egypt is selected.

Like a thunder bolt out of the blue!!!!- on 15Dec2005
Sorry, we can’t afford the latest Fixed Price Contract due to the Commodity Boom
http://www.asx.com.au/asxpdf/20051215/pdf/3trbsrc8sshr0.pdf

 

[pma99]

Maybe you're Worst Pick Ever was a sold too early story, you know, the Motza that got away.

Im sure there are
But For what its worth this is my Resources portfolio.
Maybe you'll notice something of interest

G'day Tech

I have been looking at the white numbers on the red/blue background and I am interested in what it is I should notice. Here's my list:

- 2 positions with multiple sell lmt and sell stp orders, larger than other positions - is this due to adding to winning positions ?

- Large variation in position sizes even with single sell lmt and sell stp orders (no pyramiding) - is this due to position sizing based on trade risk, ie, buy-stp, to limit portfolio risk to a maximum pre-determined figure for any one position ?

- No large losses (compared to the size of the gains) - exit before the loss gets too big.

- All positions have sell lmt and sell stp orders - maximum loss and profit targets decided before starting the trade.

Have I made too many assumptions, what have I missed ?

Cheers

Paul

 

[burglar]

G'day Tech

I have been looking at the white numbers on the red/blue background and I am interested in what it is I should notice. Here's my list:

- 2 positions with multiple sell lmt and sell stp orders, larger than other positions - is this due to adding to winning positions ?

- Large variation in position sizes even with single sell lmt and sell stp orders (no pyramiding) - is this due to position sizing based on trade risk, ie, buy-stp, to limit portfolio risk to a maximum pre-determined figure for any one position ?

- No large losses (compared to the size of the gains) - exit before the loss gets too big.

- All positions have sell lmt and sell stp orders - maximum loss and profit targets decided before starting the trade.

Have I made too many assumptions, what have I missed ?

Cheers
Paul

I think your on the money
but dont let on to the duck
you'll make his day.

 

[luke256]

was a good learning experience tho

but hey some of us aint as perfect as others make themselves out to be in here

or they could be full of ..........

Nunthe wiser you seemed to get fired up about my post did i hit a nerve! Havn't read anyone saying they are perfect on this post.

There a lot of posts saying 'hey i lost $$$, held on too long, learnt my lesson etc. But not much discussion of what was actually learnt from the bad trade and how that mistake can be avoided in future trades.

If no one gives ideas on how to reduce the effect of bad trades (i.e stop loss orders, useful FA etc) this post is of no benefit to people reading it, other than to make them feel better that someone else is losing more money than they are!

I trade forex now and havn't had a massive gap against me, always have good liquidity - thus my stops work when i am wrong limiting my loss. When i traded stocks never had any major issues with gaps or liquidity.

 

[Boggo]

Why am I constantly reminded of the late, great and occasionally sober Brendan Behan and his musings...

"Critics are like eunuchs in a harem: they know how it's done, they've seen it done every day, but they're unable to do it themselves."

 

[luke256]

I bought EXMOA at $0.002 ... where exactly, should I have put a stop loss order to avoid 50 - 100% loss.

In my opinion the monthly chart for EXM (underlying security of the option) is showing the main trend as being down since March this year when it took out the September 2009 low. So probably shouldn't have bought call options on this stock in the first place.

 

[nunthewiser]

This post is hilarious. I had a look at the charts that people lost big money on and they were all trending downwards on the monthly high/low charts.

Possibly if you are in that boat (50% plus losses on one stock) you should print out monthly charts before buying. Take it to a 5 year old and ask them which way the lines are going. If they say down DON'T BUY IT!

This is what you posted which was actually totally INCORRECT in my scenario

Not mine Buddy

QTM was a flatline with a rumour/team/inside story and caused a 1 day multi bagger spike....was a proffesional con job and stung a few of us greedy folk...( even made the papers...("wizards of bourse") )

early 2000 area( maybe late 90,s) buggared if i can remmember now

was a good learning experience tho

but hey some of us aint as perfect as others make themselves out to be in here

or they could be full of ..........

That is what i posted

Nunthe wiser you seemed to get fired up about my post did i hit a nerve! Havn't read anyone saying they are perfect on this post.

.

Yawn

end of discussion

 

[nunthewiser]

Why am I constantly reminded of the late, great and occasionally sober Brendan Behan and his musings...

"Critics are like eunuchs in a harem: they know how it's done, they've seen it done every day, but they're unable to do it themselves."

BINGO!

have a great day Boggo

 

[burglar]

Nunthe wiser you seemed to get fired up about my post did i hit a nerve! Havn't read anyone saying they are perfect on this post.

If no one gives ideas on how to reduce the effect of bad trades (i.e stop loss orders, useful FA etc) this post is of no benefit to people reading it, ...

I overwhelmingly agree that we should post to benefit people=newbies reading it.

nunthewiser had a bad day as is shown by the new thread started that day.
https://www.aussiestockforums.com/forums/showthread.php?t=21144

I too, also, was a little harsh! Sorry

 

[nunthewiser]

nunthewiser had a bad day as is shown by the new thread started that day.
https://www.aussiestockforums.com/forums/showthread.php?t=21144

The thread that i started had nothing to do with having a bad day..

in fact had a great day .

i started that thread as ppls expert opinions on stuff they obviously knew nothing about were starting to annoy me .

i knew there was a reason i had stopped posting on forums up until the last couple of days .

My thread title says it all ..

avaniceday sweetcheeks .

out of here

 

[luke256]

You keep saying your going but come back for more posts. You'll be back!!!

 

[nunthewiser]

has realised something valuable

If i argue with Idiots it must make me one too for taking the time out of my day .

Thanks guys

 

[burglar]

In my opinion the monthly chart for EXM (underlying security of the option) is showing the main trend as being down since March this year when it took out the September 2009 low. So probably shouldn't have bought call options on this stock in the first place.

The original question was mathematical, this reply is epistemological!

 

[luke256]

It sure does nunthewiser. Your last reply confirmed it. haha this forum is great.

 

[burglar]

there is a story goes like this:

A hero standing on the beach sees a newbie caught in the rip.
The newbie is swimming towards shore against the rip.
The hero swims to shouting range and shouts "Swim parallel to the shore!"
AND DEMONSTRATES his exit strategy! Both swim parallel to the shore until they exit the rip.
Then they swim to shore.

There, that's the summary to my first thread!
Just squabble amongst yourselves!

I know I learnt a lot, hope others benefit too.

Cheers,