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Should I sell all my stock and count my losses?

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fryzie

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5 April 2006
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I start trading about 2 months ago with $5,000. Ive been taking recommendations on here and another site (who are supposedly trading experts). But my stocks have done nothing but go down hill and ive lost about $1,500 so far. The reason why I havnt sold them yet is because right when im thinking of selling, I see another post about 'annoucement coming could mean big bucks' (then there is no announcment), or something similar. Should i just sell everything and count my loses?
Atm ive got money in FDL, AEX and KAL
 
Re: Should I sell all my stock and count my loses?


Hi fryzie,
If you have done badly after construing what has been posted here as personal recommendations (despite the code of conduct, posting guidelines and various comments against it here on ASF) then why would you want to go to the same source for more tips? You must take responsibility for your actions rather than looking to unknown 'experts' to apportion blame. I am, however, sorry that you have not profited from your trading but you are not alone.

My suggestion is to quit looking for tips and to start reading, patiently, the many threads which are not on what to buy. Also note, again, that nothing said here should be construed as financial advice for you to act upon. Best to see a qualified professional who can look at your overall situation.
 
rich kid, cant agree more with that.
fryzie,
I would only ever buy shares based on my own research and decisions. Sure I would read peoples post/recommendations but like I said I would only ever consider buying them based on what my toughts were after doing research.

If your the type of investor that would like to do a little research but be pointed in the right direction then you may want to subscribe to something like the rivkin report. I belive they have a 75% profit sucess rate over 8 years. In other words, out of all the recommendations they have made over the last 8 years 75% of them have made a profit and on average have made 10.6% each.

But once again, dont take my word for it. Do your own research!
 

I'd echo Rich Kid' and Mint Mans words. But also I'll let you in on a little secret.

People who sound like experts, ain't necessarily experts. Never believe anyhing you read and only half of what you see. Know your stuff and fear no man (but watch those ladies, they can do you harm ).

Cheers
 
what other site have you been using?? im just curious as a site that ive subscribed to (and pay'd good $$ for) is feeding me nothing but bogus tips.

PM me if you want.
 
thanks for the advice

yeh i was talking about topstocks.com.au
 
fryzie you learn by your mistakes after only 2 months you probably bought in high and over the last couple of weeks we have been seeing a correction in the market,hang in there,learn some patience take on board other peoples opinions and do your homework then you start to get the feeling for things. If you sell now you will be taking a fairly heavy loss, give your stock time to bounce back. :jump: GOOD LUCK
 

75% success rate means very little without divulging how much the other 25% lose.

This type of headline is used to sucker new investors/traders in .........................and it works.
 
Hey fryzie

After only two months, especially the recent one, lots of people are down and not just the new traders like you and I ... but as a mate tells me this is the best time to learn about the market and even better, it's a good time to learn about yourself too.

Cheers .... Dave
 
not to worry... my first trade was pasminco at 10 cents... in year 2000. it collapsed... lost about 20K... made many more losses in shares like chemeq, ventracor, air nz, oroya, etc, etc, etc...

overall, i am still way up...

most people would be DOWN in the last two months,
and generally the less money you have, the less balanced your portfolio, so the more % fall...

don't get too stressed, look at it more as a night out in the casino... (see thread on gambling...) ... and make sure you learn from it...
 

You mite think that ur timing was bad, but its not "timing" the markets that counts, its "time in the markets" - over time, company earnings can compound and take the share price along with it
eg. BHP was ~$8 about 3 years ago, and now its $27, but last month it was $32
eg. WPL was ~$1.89 in 1989, and now its $43, a few months back was close to $50

The sharemarket gives u the best gains over any asset class in a long period of time (ie. several years), but they are arguably the most volatile asset class, so its not the place to be if ur looking for short term gains

If ur looking for short-term gains, then the market maybe isnt where u should be looking

About the companies u invested in; the seem like high risk/return plays to me; AEX in a few years will either be producing 2million lb or uranium per year and 200,000oz/pa of gold, or it could be nothing; FDL is a diamond play; i dont know enough to comment really..

I think u should think about ur strategy before making any more moves

Good luck
 
Dude many people dont like to give advice because they dont like to be wrong (who does?)...and at the moment even most pro's opinions are divided or they are just plain stumped.
So I thought I could help you a bit from one newb to another...

Ive sold out but kept a couple little plays. The reading ive been doing suggests further drops across the board.

I am a complete newb to trading and have lost a little from the correction. Due to this I have decided to sit out and watch. Yeah I could have made money If I was to sit and watch by the minute (and had put my crystal ball in for a service). But I decided to get out with a loss and preserve my nerves for my other activities ( I had a bit on over the last few weeks and "the correction"...wasnt helping things)

The advice given to me on this forum is always polite and more importantly helpful.
Please understand that this is just a little talk about what another newb has done . NOT what I think you should do.
Cheers and good luck with you choices,
Ants.
 
Well here are charts of your stocks. They're all pretty cheap speculative ones - very risky to start out with.

Cheers,
GP
 

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What price did you buy each stock?
How many of each?

Once you sell you will have realised the loss.
With well over 60% lost you should think hard about liquidation.

FDL is in consolidation after that spike. Its still bullish from the Gap,which has been tested but not closed.Heavy selling into any up move is very common in spikes which have come off super quick like this has.Yesterday buying pushed to .03c and sellers rushed in.Unfortunately if you bought high you'll have to wait until sellers dry up. Strong support at .025 I see as a good thing as well as buyers pushing to 3c.


AEX.Technically a fall below 4c would be a disaster. If the gap from today fills within 3 days that will be a good thing. This is pretty weak.

KAL.
OUCH!!!
Support at 14.5c the same will happen to this when buyers appear as is happening to FDL. Again pretty weak but has found some support over 2 bearish trade days.

Lets just think about this logically.

Sell tommorow and you realise the loss--Maximum return $1500.

So as of today we have a $1500 decision
Do we have more chance of gaining something higher than $1500 or will we erode the remaining $1500 further.

Well technically its not very pretty,to expect a final profit would be pretty remote---there could be an announcement that sends the share--any of them--to Mt Everest but then again they could be delisted---both remote in possibility.

If you dont sell then there is a chance of re gaining some lost capital---sell and that wont happen.
Most sell when the pain becomes un bearable only to see prices reverse.

If I was holding these stocks in a position such as yours,I would be considering how to mitigate loss.I will have a loss but how can I minimise it.
Selling would not be the answer---the risk is more downside.
Ive already lost $3500 so a further $500 or so while this correction completes may be better than realising that loss---NOW.

But you'll know what to do next time.
Ill post the charts if you need them.
 
Porper said:
75% success rate means very little without divulging how much the other 25% lose.

This type of headline is used to sucker new investors/traders in .........................and it works.
Click to expand...

agreed. some have had some whopers! but all that info is on their site. which can be found with research.
 
Tech,

tech/a said:
or will we erode the remaining $1500 further
Click to expand...
$1500 was the amount lost, so there should still be $3500 remaining.

Cheers,
GP
 
GreatPig said:
Tech,


$1500 was the amount lost, so there should still be $3500 remaining.

Cheers,
GP
Click to expand...


Sorry miss read the post.

Throws some new light on the topic.
If it was me Id sell IF

FDL trades at .023
AEX .040
KAL 14c

This is only what Id do.
Im not a financial advisor,this is offered as an opinion based on my veiw of those stocks technically.This is not to be considered as advice.

I would however be interested in what advice a licienced Financial Advisor would give you!!
 
Hey fryzie,

The penny hopefuls arent really the best way to start trading. You might make huge amounts of money but its quite hard to tell and even if you do it would probably have to do more with blind luck than any fundemental analysis of how much the company is really worth and is definitely not sustainable in the long term. Your best bet would be to read up and figure out what would be the best move for yourself.

That said some ppl seem to do alright trading them but I have no clue how much an exploration company diggin holes in the outback is worth and i'm pretty sure not many ppl would.

As always nothing I say should be taken as financial advice,
suhm
 
I hold FDL, like the ratios !

Will hold to the next jump up to mid July.

Bob.
 
Oh, mate.. you just lost a bit compare to other ppl....
This correction is started when you jump in...
It's been expected, but many ppl dont believe it including me...
So, what happen is, read and read more.. don't believe what you read or see,
you make all the buying and selling, don't blame others..
Cheers
PS : let's pray for the bulls to come back, shall we?
 
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