Advice needed

Ok, I'm a newbie to the ASX, borrowed $25k over a 5 year term to invest in the stock market and have lost over $15k of that in my first 3 months.
I was silly and had no goal in mind as far as what I wanted to achieve and over what time frame.
I currently hold 16k CVN shares (could have shot myself today) and really want to crawl my way back to somewhere near even in the next couple of months.
Originally invested all $25k in IRL @ .25cps and was "stopped out at .15cps, then buying into CVN at average price of .70cps

Please, if anyone can help me out with a plan and a few tips it would be greatly appreciated.

The whole thing is very depressing and I'm struggling with direction

Thanks

JJ

Jack, nobody on this forum can offer you financial advice. It is not permitted by law and frankly I'm beginning to have a big problem with these kind of threads.

The only people that can offer you financial advice are licensed financial advisers. Perhaps instead of asking for advice on this forum you should go and see one.

http://www.fido.asic.gov.au/fido/fi...ial+facts+about+financial+advice?openDocument

Jack_Junior said:

Ok, I'm a newbie to the ASX, borrowed $25k over a 5 year term to invest in the stock market and have lost over $15k of that in my first 3 months.
I was silly and had no goal in mind as far as what I wanted to achieve and over what time frame.
I currently hold 16k CVN shares (could have shot myself today) and really want to crawl my way back to somewhere near even in the next couple of months.
Originally invested all $25k in IRL @ .25cps and was "stopped out at .15cps, then buying into CVN at average price of .70cps

Please, if anyone can help me out with a plan and a few tips it would be greatly appreciated.

The whole thing is very depressing and I'm struggling with direction

Thanks

JJ

Click to expand...

First I'll say this; the way you're talking resembles a problem gambler, chasing the losses, wanting to break even.

My first piece of advice is to accept that the money is gone, all you can do now is start fresh, & hope for better fortunes.

Your safest option? Oh wait, is that 15k borrowed? I was going to say; stick it in a high interest term deposit, 15k will pull in roughly 1k PA in interest. You would get back your losses over quite a few years.

We need more information on how you obtained this 25k. Was it borrowed from parents, a loan from a bank?

A lot of people are sitting on similar losses from holding much safer & solid companies, so I can assure you, you're not alone if that helps at all!

Either way, unless you have a very solid plan at the moment, or are a long-term investor holding quality stocks, you should sit the market out until stability returns. Perhaps invest a couple of hundred in some counselling sessions if you're legitimately feeling depressed about it as well

Post deleted as you really need to talk to a licensed advisor.

Hey dude I feel for you. I hold a high proportion of CVN too (tho got in a fair bit earlier) and it sure got hammered today - bad day for an ann of a no-flow well. And I think because its done so well lately a lot of people were taking profit and bailing the market with the jitters.

I am in a similar situation. 3 months since starting, 25K (out of home equity tho), Currently only up a few % (and expect to loose that and more in coming days / weeks), and I've watched a big profit evaporate. But personally I've invested for long term and picked long term stocks, so I'm going to hold on and not sell during a downturn. I can imagine how sitting on a big loss of your loan would suck though. And not sure what you should do.

If you do decide to hold on - i like the prospects of CVN in the long term if that makes you feel any better. Oil prices are high, 4,000bopd to CVN already, then 26 wells to drill this year, success rate of 75% so far (but expect to drop with more exploration wells), plus a new tenement next door, and Aus, well respected CEO.

Jack_Junior said:

Ok, I'm a newbie to the ASX, borrowed $25k over a 5 year term to invest in the stock market and have lost over $15k of that in my first 3 months.
I was silly and had no goal in mind as far as what I wanted to achieve and over what time frame.
I currently hold 16k CVN shares (could have shot myself today) and really want to crawl my way back to somewhere near even in the next couple of months.
Originally invested all $25k in IRL @ .25cps and was "stopped out at .15cps, then buying into CVN at average price of .70cps

Please, if anyone can help me out with a plan and a few tips it would be greatly appreciated.

The whole thing is very depressing and I'm struggling with direction

Thanks

JJ

Click to expand...

Don't worry about it.. cos pretty soon you'll have nothing to worry about...
alternatively. cut your losses and learn..
Cheers
.......Kauri

After some reflection I have made the decision to close this thread.

I have also decided not to allow similar threads in the future as I believe they are outside the scope of internet forums such as ASF. As I stated in my first post on this thread, nobody on ASF is legally entitled to offer specific financial advice to others. Even if they are a licensed financial adviser they are unable to offer advice in that capacity on a forum such as ASF.

Those seeking financial advice specific to their particular situation should consult a licensed financial adviser (ASIC’s website at www.asic.gov.au has a list of licensed advisers). They should also consider visiting ASIC’s consumer website at www.fido.gov.au for general guidance about investing.