First trade ever down over 15%

[kimo'sabby]

I feel like I have the worst luck among everybody. Finally after a month of issues I funded my account at Questrade with $3k. As that may sound like nothing, I work part time for $10/hour, and I am in highschool and only 18 years old. So it took me 6-7 months to save up that money if that gives you a better insight to my frustration. I decided after a bit of research to buy into a mining stock CXZ yesterday morning. I bought 1000 shares at 2.11 and then another 200 at 2.07. For anybody who is interested it hit it's low of 1.79 24 hours later on 0 news and nothing that should be pushing the price of it down. I'm so beyond mad that in my first trade, first 24 hours trading I could possibly manage to lose that big of a percentage of the money I've saved. I feel i'm so deep under water that I should just stay in at this point and hope to recover at least some of my losses, I really don't know anymore just seems like everything is against me these days and its hard when something like this happens, when it just doesn't make sense. I must be missing something

When ya dance with the devil, ya got to know how the devil likes to dance.

 

[kimo'sabby]

Because sadly, its too easy to hide behind a keyboard in a different couuntry, and join in with a little gang of bumchums in attacking a single poster, possibly using multinicks, and dish out threats and insults on an internet forum. Possibly whilst dressed in an Elvis costume.

As pathetic and cowardly as it gets.

After all, my original post was simply pointing out the importance of using stops, particularly for noobs.

Being good at trading has f*ck-all to do with stops.

 

[Mao]

Being good at trading has f*ck-all to do with stops.

So your another advocate of not using stops are you ?

If you believe the above, maybe you should re-consider posting anything on the forum, particularly in responding to newbies request for advice. Maybe do some research, as you no longer have any credibility.

 

[kimo'sabby]

So your another advocate of not using stops are you ?


No. You are making things up in your own head. Stop it.

 

[barjon]

I bin at it again - I don't even pretend to be even-handed, mao, and I'm certainly not gonna waste my time editing out your off-topic troublemaking just to save the little bit in your posts that may be pertinent to the topic.

 

[dmt257]

Ive only read the first few pages, but I hope the guy got out as its trading at half of what he paid.

 

[DashRiprock]

crikey low yday 0.92

timmy was on to sumthin!

 

[Jack o'Clubs]

Uranium mining is not exactly flavour of the week at the moment. The OP had a lucky escape.

 

[dmt257]

Uranium mining is not exactly flavour of the week at the moment. The OP had a lucky escape.

Pmsl!!! He bought a uranium company a few days before the Japan situation. Lol lol lol. That is bad luck haha.

 

[tar]

Because sadly, its too easy to hide behind a keyboard in a different couuntry, and join in with a little gang of bumchums in attacking a single poster, possibly using multinicks, and dish out threats and insults on an internet forum. Possibly whilst dressed in an Elvis costume.

As pathetic and cowardly as it gets.

After all, my original post was simply pointing out the importance of using stops, particularly for noobs.

loooool

 

[peakoil]

To the OP:

If you have 3000 notes in your account, in my view & I'm sorry to suggest - you are way too under-capitalised to be buying 1200 shares. Please, please please think of building up your account with far smaller trades before you jump in at the deep end like that. Fine, it's your money at the end of the day but you still came here for advice. Whatever about stops, as a rough rule of thumb I would say that your max size given your account, if I was in your shoes, would be no more than 500 shares. Yes, 500! Laugh at that by all means, but even with average luck, you might well have a tough time surviving much longer on the experience & facts you've given, with position sizes like that, on your bankroll.

 

[Wile E Trader]

I totaly agree with peakoil comments.