A rookie mistake, but what next?

CalTrade

Junior member
25 3
I am relatively new to stock trading. I first started in 2017 and have since learned a lot and adjusted.

However, one of the mistakes I made early on, is letting hope get in the way of good decisions. Three of the stocks that I bought back then, started tanking. Rather than cut my losses, I kept watching the chart hoping that the trend would reverse. It never did in any substantive way.

One of my stocks for example (TGOD), which is a cannibis stock (which ironically, i don't like the idea of cannibis) anyway.....that particular stock has decreased by 88% (or something in that ballpark) to date- in other words, I bought it at 33.50 per share and it is now trading at 0.3600.

I guess my question is, given that I can't turn back time, and given that if I sold this stock at 0.3600, it would be negligible, should I continue holding this stock? Obviously, if it were just starting to lose, I'd cut my losses, but this is a stock that I mishandled and cannot correct.

I wrote to the company and they assured me that they have a great plan for 2021 and expect to do well...etc.

What would you do if you were me? Sell, stay?

Thank-you for your time and expertise.
 

MasterOfCoin

Experienced member
1,228 478
I am relatively new to stock trading. I first started in 2017 and have since learned a lot and adjusted.

However, one of the mistakes I made early on, is letting hope get in the way of good decisions. Three of the stocks that I bought back then, started tanking. Rather than cut my losses, I kept watching the chart hoping that the trend would reverse. It never did in any substantive way.

One of my stocks for example (TGOD), which is a cannibis stock (which ironically, i don't like the idea of cannibis) anyway.....that particular stock has decreased by 88% (or something in that ballpark) to date- in other words, I bought it at 33.50 per share and it is now trading at 0.3600.
🚬
I guess my question is, given that I can't turn back time, and given that if I sold this stock at 0.3600, it would be negligible, should I continue holding this stock? Obviously, if it were just starting to lose, I'd cut my losses, but this is a stock that I mishandled and cannot correct.

I wrote to the company and they assured me that they have a great plan for 2021 and expect to do well...etc.

What would you do if you were me? Sell, stay?

Thank-you for your time and expertise.
Welcome to T2W. :)

Frankly, you've got nothing much to lose now, by holding onto the stock.

The time to cut your losses is when they are plummeting, not once they have reached rock-bottom.
Cannabis is a growth market sector, with huge potential as increasing decriminalizing spreads year on year.
You may as well hold onto it for the potential of recouping some of your investment.
Might even end up with a tidy profit, you never know.

🚬
 
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CalTrade

Junior member
25 3
Welcome to T2W. :)

Frankly, you've got nothing much to lose now, by holding onto the stock.

The time to cut your losses is when they are plummeting, not once they have reached rock-bottom.
Cannabis is a growth market sector, with huge potential as increasing decriminalizing spreads year on year.
You may as well hold onto it for the potential of recouping some of your investment.
Might even end up with a tidy profit, you never know.

🚬
Thank-you. That was my sense too, as the alternative is almost nothing. Thanks again for your advice. Much appreciated!
 
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Reactions: MasterOfCoin
 
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