# Stupidest trade for 2006...



## theasxgorilla (23 December 2006)

Forget the chest beating I want to know about your _dumbest_ trade for 2006.

I'll kick it off.  AVJ, AvJennings.  Chart looked good for a medium term buy. Dividend yield was around 10%.  Inspite of the pro-longed slow down in residential development the contrarian deep inside me wanted to get onboard and be the first to pick the bottom of the property cycle.

When it turned down instead of continuing up I commited the cardinal sin and over rode my risk management.  I gave back 17% by the time good sense got the better of me.


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## Caliente (23 December 2006)

Yes, pre-risk management days I managed to drop 2.5K on UNX, earlier on in the year during a period of frenzied buying. Worst part of all was that I bought more as it was on its way down.

A tough lesson that i guess all rookies like myself have to eventually learn.


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## michael_selway (23 December 2006)

Caliente said:
			
		

> Yes, pre-risk management days I managed to drop 2.5K on UNX, earlier on in the year during a period of frenzied buying. Worst part of all was that I bought more as it was on its way down.
> 
> A tough lesson that i guess all rookies like myself have to eventually learn.




*Buying more when its going down can be dangerous yes*

But do u still hold UNX? Its flying atm!

thx

MS


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## Caliente (23 December 2006)

Hey michael. No I dont! sorry, should have stated my position in my last post. 

I get a chill everytime I think about it actually, so I couldn't personally go back to UNX, even if it maybe warming up. I hope with experience I can look at a stock where I've made a large loss with a view to searching for a new opportunity, but that will come with time. I'm only 21, so there is still some way for me to journey left. Just have to stay in the game  

To all current holders of UNX, I hope you are toasting a few drinks its way this xmas =)

Position: do not hold.


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## juddy (23 December 2006)

BTV

bought it on a nice ascending triangle break, volumes looked great.

got caught in a trading halt, crap announcement.

sold straight away, lost $3.5k.

would have been worse if I had held.  

Merry Christmas all.


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## Kipp (23 December 2006)

Got one you'll like Juddy....
I sold my remaining 50% of INL about 6 weeks ago when they hit 21 for the first time (2 weeks before the pyscho breakout).
Then was quitely patting myself on the back when they retraced to 18.
Only to find I'd issued a BUY order not sell with my online broker!!!!  I was in rush when I did it cause it was at work.... WHAT A SPAZ!!!!!   I sure hope I'm not the only one in history to do this...

So instead of being out of my 7600 shares (half my original holding) I held 15200!!!  LOL... anyway... the story didn't end so badly, but I did cheat myself out of a few bucks with this one... worth taking the extra 10 sec to review your order before confirming...


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## chops_a_must (23 December 2006)

Not asking for enough of the T3 things...


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## nizar (23 December 2006)

Too many stupid trades to mention here, seriously


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## chris1983 (24 December 2006)

My one major mistake and biggest loss for 2006 was selling 12,000 FXR at 65.5 cents for a $2500 loss.  I knew in my mind they were producing and didnt have any problems...yet I still sold.  I panicked when the market was getting smacked and sold out.

Lucky when I sold I bought another 10,000 AOE at 63 cents.  So it didnt turn out too bad because they are doing well atm.

But yes..that was my dumbest trade.


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## Fab (24 December 2006)

chops_a_must said:
			
		

> Not asking for enough of the T3 things...




Yep that is my mistake too I could have ordered double of what I got. I am now waiting for a pull back to buy some more.


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## imajica (24 December 2006)

JPR - Jupiter Energy - lost 3k - 'nuff said


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## Kipp (24 December 2006)

chris1983 said:
			
		

> My one major mistake and biggest loss for 2006 was selling 12,000 FXR at 65.5 cents for a $2500 loss.  I knew in my mind they were producing and didnt have any problems...yet I still sold.  I panicked when the market was getting smacked and sold out.
> 
> Lucky when I sold I bought another 10,000 AOE at 63 cents.  So it didnt turn out too bad because they are doing well atm.
> 
> But yes..that was my dumbest trade.



Yeah... I have to say nerve's got the better of my in June as well... never been through a correction before, so lost patience and panicked.  Sold out of Mincor at 0.83.  Had a similar fun to FXR since then...
Ah well.. it takes balls to keep you money in the market when it's diving.


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## kgee (24 December 2006)

Holding onto ARH...selling CBH and MTN way to early...and just lately buying back into BMO at 27....knowing full well its a gamble and not been able to pull out of it cause I've got to see what happens.  
Just started reading Louise Bedfords "candle stick charting".... so 2007 will see me use more TA in both entry and exit points!


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## theasxgorilla (24 December 2006)

Kipp said:
			
		

> Sold out of Mincor at 0.83.




That pull-back (and that share) are not for the feint hearted.  I held, even though the peak-to-trough drawn during that dive was something like 22%, and since I got in early enough it never dropped below break-even.  I just figured it was a small-cap mining share doing what small-cap mining shares do and it would sort itself out.

I had an SMS alert in place and tried not to watch it on a daily basis too much


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## reece55 (24 December 2006)

Well, not my trade by I know of someone who held AGS at around about 30 cents, sold out in June 06 losing 33%. If they held now, they would be on about a 600% return.

My worst trade this year by far was Qantas. I did my homework, my fundamental valuation pointed me to at least $4.20. I bought in at $3.39, watched the thing slide to 2.91 then to sell out when it recovered to 3.40 at break even. Every day after I sold I watched the thing go up. When MBL stated that they could be subject to a buy out, I nearly entered again but decided it was too risky valuation wise. Well, at least I didn't lose money!


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## Julia (24 December 2006)

My worst trade was from not trusting my own judgment and selling out of KZL and ZFX because I believed someone else's TA opinion that it was time to sell.  It was a short lived dip and both went on to quickly make new highs.

Have since re-entered ZFX, but this mistake has cost me a bucket of CGT plus lost profits before re-entry, plus additional brokerage.

However, it has taught me yet again that TA alone is less than useful when it ignores the medium - longer term fundamental situation.

Julia


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## insider (24 December 2006)

I've made numerous bad trades... Bought UXA at 19 cents and sold at 14cents... bought AGS at 41 cents held for 3 months then sold at 43 cents only to watch them sky rocket nearly 2 bucks... bought EXT at 7.7 cents and sold at 6.4 cents... But I learnt alot and now won't be making as mant mistakes... Bought TAM at 19.5 cents and sold them at 15 cents...At one stage I had less than 50% of what i started with...

Do I care... No   Lets talk about how much we've made   Check out my cool car  :knightrid


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## finnsk (25 December 2006)

One of my first trade was ZFX at 2.96 sold at 3.06 then bought at 12.50 in May sold half at 10.00 and the rest at 9.20 unfortunatly i was long and not short I had bought them as CFDs os diddent have the nerve to keep them BTW 9.20 was the bottom


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## matti_pacman (26 December 2006)

I made the mistake of buying RPC with 10% of my profolio when it was falling... and its still falling...    otherwise things hasnt been too bad! happy new yr everyone


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## Ko Ko (26 December 2006)

Worst trade ever,

Buying ROC at 4.30 and seeing it go up to 4.50ish then retracted down to 3.00. Still holding at the moment but what a loss i must say. I havnt felt the loss due to gains in other stocks but I thought this stock would hit the jackpot.


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## michael_selway (27 December 2006)

Selling KZL for $4.30... bought at $4.65...

thx

MS


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## MalteseBull (27 December 2006)

BTV, URL


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## Jay-684 (27 December 2006)

Selling JML for 35c (bought for 48 from memory)

selling PDN for $4.50 odd (bought for $2.20 though)


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## YOUNG_TRADER (27 December 2006)

Selling 750k JMSO @ 0.125 (hit high of 22c a few days later, but paid 0.012 for them so very happy)

Selling 100k BMNO @ 0.2 PRE Split ie would be 300k worth $2 today (But picked em up at 0.05-0.06 so at the time seemed like a good trade)

Oh well can't win em all and I've learnt from my mistakes, well some of them, 

Here's to the New Year!


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## JoshyJ (27 December 2006)

I say we ban him from this thread.  : 



			
				YOUNG_TRADER said:
			
		

> Selling 750k JMSO @ 0.125 (hit high of 22c a few days later, but paid 0.012 for them so very happy)
> 
> Selling 100k BMNO @ 0.2 PRE Split ie would be 300k worth $2 today (But picked em up at 0.05-0.06 so at the time seemed like a good trade)
> 
> ...


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## marklar (27 December 2006)

The year isn't over yet, still a few days left to do something spectacularly stupid!

m.


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## theasxgorilla (27 December 2006)

JoshyJ said:
			
		

> I say we ban him from this thread.  :




  I suppose I did call it, "stupidest trade", as opposed to "greatest loss".


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## nizar (27 December 2006)

YOUNG_TRADER said:
			
		

> Selling 750k JMSO @ 0.125 (hit high of 22c a few days later, but paid 0.012 for them so very happy)




Your stupidest trade was a 10-bagger?
All hail the KING   

If thats true - You would make even the worlds best traders seem very very ordinary.

Keep up the good work.


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## YOUNG_TRADER (27 December 2006)

nizar said:
			
		

> Your stupidest trade was a 10-bagger?
> All hail the KING
> 
> If thats true - You would make even the worlds best traders seem very very ordinary.
> ...




lol I get what your saying but surely you realise after following a stock for over 9 months and holding and accumulating a decent position you sell out at a huge profit, only to realise it could have been *DOUBLE had you held a few days longer* and why it was my stupidest is that I had 20c as my MINIMUM SELL PRICE, but I just couldn't help take profits as it just rose so fast.


Also you guys missed the BMNO sell, I sold my opies for $20k, theyd be worth about $500k if I'd held to today, that has to be the worst decision by far for 2006,

Well actually there was someone I heard of who unloaded a whole heap (I think 1m) of Cudeco Opies at 0.001, which went as high as $5 from memory a few weeks later, glad I wasn't that person


If only I had a time machine (lol Back to the future has been on wayy to much recently)


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## insider (27 December 2006)

I'll tell you what's worse than everything... leaving your money in a bank earning an interest rate of 1.7 percent per annum over 10 years... I wake up in the middle of the night screaming "ONE POINT SEVEN PERCENT"... What was mum thinking...


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## ezyTrader (29 December 2006)

Putting a GTC buy order and forgetting about it whilst price was in retrace mode!


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## dubiousinfo (29 December 2006)

So close to the end of the year and yet, I still manage to squeeze another stupid trade in !

Sold GSE opies 3 weeks ago for a tiny profit at an average price of just under 2c.  Damn things hit 8c yesterday.


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## Prospector (5 January 2007)

Not quite the same as the original topic, but I was in the Bank today banking some cheques and I heard a lady talking about what she should do with her money (I gather it was for some significant amounts).  She said to the Bank Manager that the last thing she would do with her money was buy shares because they were sooooo risky! So she settled on a 5% locked away cash deposit and the Bank Manager smiling with glee. I started to laugh which resulted in a coughing fit (have a cold : ) 

Now that, to me is a stupid 'trade'


My stupidest trade, well, actually I cant think of any    Not really,  :  Well, perhaps selling some AUM on a panic, or conversely, not selling them for a huge profit the day they touched $10 then closed for clarification.  I still hold some and am looking at a nice profit anyway.....


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## Dohes7 (9 January 2007)

BDG.... Like so many others..... BDG!!!


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## UMike (16 January 2007)

SEN. Bought it for 75c
Tripled my volume holding at 44c.

Finally sold at 31 

posi: holding alot more at 26c.

Heres hoping


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