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What is your WORST trading experience....
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sanye2006
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26-Dec-2006 13:05
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Bought Creative at $21.3. The price is now $10.1. Still holding ... :( |
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hughsh2004
Member |
26-Dec-2006 12:59
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.. this yr my losses 'vested in' in MMP REIT, ALLCO REIT; now paper losses in Ouhua, Celestial & SPC.... ;-( |
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ten4one
Master |
26-Dec-2006 12:55
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Cheap stocks (penny stocks) is not equal to lousy stocks. There're 'cheap' stocks that are well-managed which may one day become a blue chip. And the blue chips of today may also sink to become a sunkened hero. Nothing is permanent in the Stock Markets! Not cutting losses and move on means Opportunity Loss - you could have used the tie-up funds for better trading opportunities. Never put your capitals in a sinking boat. Protecting your capitals and try to maximize them is the only way to successful tradings and investings. Cheers! |
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awchyeong
Member |
26-Dec-2006 12:17
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my strategy is similar with Jackjames, but my experience tell me that this method can only apply on good blue chip stock, such as Semcorp, S tell, Sgx, capital land n bank's stock etc, not for the stock that their operation look like family business. few years back i used to play the cheap stock (capital limitation), alway kana burnt figure. now , i only consider blue chip with price more that $1. It works at least the return is much better than FD. Like Sgx, I 'in' and 'out' many times, make some $. But if i hold it since my first buy in 2005. it will earn much better. I conclude, good stock can hold but not the cheap cheap stock. futhure more i will never look into any china stock accept ' Cosco'. Any comment sharing. |
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floppy
Member |
26-Dec-2006 12:13
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blur queen here.... got ouhua @ 58 buy somemore @ 47 still holding..ouch ! |
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iPunter
Supreme |
26-Dec-2006 11:35
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Jackjames strategy is excellent for the longer-term investor. It works everytime if you are a pedigree long-termer. But active TA traders will frown upon such what they call 'imprudence'. It depends on your character and temperament, you see... :) |
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iPunter
Supreme |
26-Dec-2006 11:29
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But this is easier said than done... How do you expect one to sell when 'only a paper loss' is incurred? Further, one can always hope that tomorrow the price may rise back and then sell. But usually, when the price does rise back, no selling will be done, coz there's hope for even more rise tomorrow. This is a typical situation. It's really not easy to handle.... :( |
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jackjames
Elite |
26-Dec-2006 11:29
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wow patseow, you have really many story to tell.. I do not sell when the price drop below 10%, that is not my personal stratergy. I got 3 good examples for my own case. just for sharing. I bought STXPO at 0.97, it drops all the way to 0.5++, and now it is 0.99, luckily I never cut loss! As for SPAusnet, I bought at 1.63, it dropped all the way to 1.3++, and now it is back to 1.63, as for NOL, i bought at 1.89, dropped all the way to 1.5++,and now 2.11 (but i sold when it hit 1.92).. not all the stocks you must cut loss! It depends. Right now, even bio-treat is 0.61, I do not think I want to cut loss either.. well, that's my trading experience. |
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infospeed
Member |
26-Dec-2006 11:20
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I have set myself this trading rule. Will sell when the price drop below 10% from the highest price. Such rule will help to minimise further erosion of profit. Taking on patseow8's example, when Creative was at a high of $25, should have sold the counter when price drop by 10% to $22.50. At least losses were minimised to -$0.20 per share + trading cost. Just to share my experience. |
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patseow8
Member |
26-Dec-2006 10:59
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also advance holding. |
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patseow8
Member |
26-Dec-2006 10:55
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sob..sob..., mine is Creative, sold at a lost of $25,270.00. Bought 2,000 shares on 15/2/02 at $22.70 (collected div. of $4,217) sold at $10.10 on 12/4/06. Regretted not selling when price hit $25+ sometime around Jan'05 as my target is to make $10k from this stock repeating my previous gained in Apr 1999 however I was not lucky this time, the next day (it was on a Friday) when the price when up to $27+ I wasn't around. Anyway, standby to sell on Monday however came the bad news of profit warning and the price drop $2 to $25+, after that everyday it dropped $1.50 or $1.00+ on average and I finally give up selling until more bad news followed and I begun to panic as I'm no longer working so cutting loss is the only painful option (I had never done this before, it was thru joining SJ and after reading members postings on the forum that had given me the courage. So far I had cut loss on few of my bad buy and currently all holding are at negative point at paper loss of $48K like:-
STATSCHIPPAC, IPC, KINGBOARD (since yr 2000), CHUAN HUP, PRIMEREIT (bought in 2005), GLOBAL VOICE, JAPAN LAND, CENTILLION, ALLGREEN, K1.
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prettylisa
Member |
26-Dec-2006 10:44
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My experience has been mainly mediocre gains and big losses ..... :( |
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jackjames
Elite |
26-Dec-2006 09:47
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worst, is... when Bio-treat crash from 1.25 to 0.85++, I went in at 0.845, and it crash one more time to 0.5++, now 0.615, still holding... |
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singaporegal
Supreme |
26-Dec-2006 09:32
Yells: "Female TA nut" |
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Wouldn't say the worst... but could HAVE BEEN my worst. Some time back, I was considering buying into China Aviation Oil because the TA charts were pretty ok and the analysts were all hyped up about the stock. But I was still waiting for a good entry point because the stock was overbought. Then TA signals started to change for the worse a few days before the scandal broke out. Lucky for me, I trusted the charts and didn't go in. |
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giantlow
Master |
26-Dec-2006 09:22
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it would have to be ChinaKangda. bought at 66cents, it dropped to 62 cents, i sold it bought again at 60 cents, it dropped to 55cents worst stock ever |
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jackjames
Elite |
26-Dec-2006 00:01
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my worst trading experience? hmm.. sold my Hongguo at 0.775, and the next day, fly to 0.85, and the second day fly to 0.97. So far, that's really my worst trading day.. |
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rogue_trader
Master |
25-Dec-2006 23:55
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Lost $13k within 45 minutes of the "Great ACCS 1st doomsday of trading". I shorted when everyone was buying up on that day losing $13k, then counter suspended. When resume, I buy when everyone was selling/shorting and lost another $7k. Why? Because I was greedy and was "sold-out" by my "group". End up, me and two of my friends from that group was the biggest joke and the GOLDEST PIGS.. One word of advise, trading in groups can be quite "fun", profitable and experience learning, but too much of the cooks will spoil the soup and one won't have a plain smooth sailing in one course of trading in "groups". |
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pikachu
Veteran |
25-Dec-2006 23:16
Yells: "Holy Cow!" |
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please share!!!! |
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