Iv'e Just Lost 800 Quid

traderx

Active member
146 2
Bought 1000 Atlantic Telecom 3 weeks ago, failed to stick to my stop loss in the belief that a share could not possibly keep unwinding, having come down from £12 to the price I paid, £2.08. How wrong I was. I have finally been defeated by this market. Goodbye and good riddance. Sold at £1.37 in the belief this will be a penny share within a fortnight. I will now stay out of the market until better times come along. I think we might be heading for a recession of sorts, at best a slow down with hard or soft landing. Too many high tech companies warning of slowdown in earnings in US. We forecast all this some time back, talking about the effects of oil price on earnings going forward. When Year 2000 is gone I for one will be glad to see the back of it.

Tx
 

Riz

Experienced member
1,266 5
And I just made 1.5k out of ISYS..but don`t cheer up just yet...the rest of my portfolio is down around 4k..no way we can beat this sort of market...only safe way is staying away for a while...but can we manage that?

Tx, so nice of you sharing your bad experiences with us..most useful..I also bought ATN @210 expecting them to go over 400 in a short time..luckily I realized that was just a wish and sold @204 before burning my fingers...

I wish we had our archives here so we could go back to the threads and read over and over again the posts we anticipated the tech crash..

I also think a recession period is quite possible, but might not last long..the back of this year can only be good news..

Let`s just keep discussing more than trading for the time being..
 

cookie

Active member
248 1
Join the club - but much much worse.
I have just settled ONE of my accounts today with a cheque for £24k. My paid up portfolio costing £72k is currently worth £46k. Should have sold the lot a week ago but hoped the US election would have been sorted by now.

ALL TECH STOCKS!!

Make you feel better ????

The problem now is how much credit will brokers allow me for when we get the recovery rally.

I am not currently trading and spending my time on non-tech fundamentals and sector research. Oh and at the same time doing what I do best WORKING!

Cookie
 

titus-uk

1
291 5
Cookie - and I was feeling miserable £2000 down.

Actually, advice needed. I bought Baltimore at 520 before their (good) results. Thought the election would end in a day, and things would at least hit 600. Well, serves me right for not obeying a stop loss (for the first time I let my discipline go).

I guess you always think that this will surely rally, but I have my doubts now.....advice would be deeply appreciated!

Cheers all, Mark
 

rthakkar

Junior member
24 0
me too down by £ 600 on blm baught at 4.22, and holding portfolio not worth mentioning,for the sake of it 49k down by 26k
 

cookie

Active member
248 1
GONEWEST David, Down the tubes and all that.

A valuable learning process nonetheless but will we make the same mistakes again??

Mark - re BLM

What goes up must come down and visa versa.

There WILL be a recovery - when who knows??
But when there is BLM is one of the most popular shares trading good volumes and more to the point we traders will consider this share cheap whatever the true value of the company.

If they are paid for I would hold unless you feel you can recover your loss quicker on anything else, which in my view could be just as much of a gamble.

Verdict - Hold

There is of course the question of your stop loss policy, if you have one stick to it.

Raj, without a doubt we will recover losses in time, what we should have done was to set a stop loss limit. Having sold we would then have been in a cash position to either re- invest or to wait for the inevitable rally.

Good Luck


Cookie
 

shelman

1
439 1
Talking about TeleGoneWest i very nearly bought some more today.Can it go any lower, can it?
Steve

Or are we looking at another'Woolwich'

[This message has been edited by shelman (edited 23-11-2000).]
 

titus-uk

1
291 5
Cheers Cookie.....I know its bad not to sell at the bottom....but as a newby just getting a little concerned....reassurance has steadied my nerves, thanx
Mark
 

titus-uk

1
291 5
Cheers Cookie.....I know its bad not to sell at the bottom....but as a newby just getting a little concerned....reassurance has steadied my nerves, thanx
Mark
 

rthakkar

Junior member
24 0
thanks cookie,
prior to this thread, and refering to brelliant comments of the BB members I always felt I was the only one holding long term loss making portfolio, thanks for the consolation, but never the less, the portfolio must be turned arround, I have done that in past for indidivudal long term loosers, but to turn around whole loss making portfolio will be a deferent and difficult chalange and lesson of avoiding similar circumstances in future.

Raj

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by cookie:
GONEWEST David, Down the tubes and all that.

A valuable learning process nonetheless but will we make the same mistakes again??

Mark - re BLM

What goes up must come down and visa versa.

There WILL be a recovery - when who knows??
But when there is BLM is one of the most popular shares trading good volumes and more to the point we traders will consider this share cheap whatever the true value of the company.

If they are paid for I would hold unless you feel you can recover your loss quicker on anything else, which in my view could be just as much of a gamble.

Verdict - Hold

There is of course the question of your stop loss policy, if you have one stick to it.

Raj, without a doubt we will recover losses in time, what we should have done was to set a stop loss limit. Having sold we would then have been in a cash position to either re- invest or to wait for the inevitable rally.

Good Luck


Cookie
<HR></BLOCKQUOTE>
 

Riz

Experienced member
1,266 5
Good prediction, Tx...ATN is down 24.0 (18%) at 109 today..

Raj, it sounds like you can turn your portfolio around in the course of time..in the mean time may I suggest that we all take the oncoming bounces as great opportunities to lighten up our poisitions..in case we don't see a sustained end of year rally this year..and lets apply stop loss limit next time please..Uncle does get upset when we don't..good luck..
 

Aaln1

Junior member
28 0
Great thread if only to reinforce how stoploss discipline is something we pay for. I'm 7k down on 24k portfolio. Worse I sold some of the shares I had (SMIN which went up 50p immediately) to SUPPORT THE LOSS MAKERS!!
I hang my head in shame; but good to know not alone. Work is what I ill be doing best for a while I guess. Cheers

------------------
 

ChartMan

Legendary member
5,580 46
And then you get hung drawn and quartered for holding Torotrack......there's no justice...I hope Toyota never make another car as long as I live....I'm torching my Supra tonight..........

Martin
> :(
 

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