% loss in portfolio?

[mobcat]

It all seems a similar story hey Guys I'm down $440k since an all time PF high on the 26th of July and i don't now if we have bottomed yet .....and i gutted my PF 2 weeks ago seeing a bit of a rough spot ahead and dropped it into what i thought at the time was a safer haven for that to go down 25% as well OUCH oh well we do our best don't we

And to add to the Sizzler story i don't no if it,s urban legend or not but at the Sizzler in Geelong the story go,s the Chef lost the plot one night and waltzed naked into the restraint from the kitchen tossing alot more than the salad and then progressed to toss his load on a patron only to be beaten to a pulp by the patron the Sizzler not surprisingly closed for ever 2 days later and became a Mercedes showroom still pondering the moral to that story but you have to laugh ATM or it,s just to hard

 

[nomore4s]

The correction we had to have is now officially OVER, so happy buying and looking for a new high by years end

The only way I can figure the correction is officially over is if it's now being called a crash.

I've given about 7.5% of open profit back, only been trading since Nov and am now about 35% up. I'm completely out of the market now, only had a couple of trades open during the last two weeks anyway but go to Singapore early next month and will now sit on the sidelines till I get back. In the mean time I will be looking at different strategies and plans as I think its going to be a different type of market for the next few months at least (but probably alot longer), the bull could be over. I think alot of the mistakes I've made won't be so easily forgiven by the markets in the next few months.

 

[Awesomandy]

Now that I'm at home, I have access to my numbers... 25% down from 2 months ago. I've only started investing in September last year, but since I slowly dripped the money in, and that trades are all over the place, I don't even know how much I've made or lost in total over a 1 year period... well, perfect time to re-organise... starting with cash.

 

[insider]

Wait a sec! does this thread mean the correction is over? I'm confused

 

[Bearman52]

Wait a sec! does this thread mean the correction is over? I'm confused

I certainley hope not Insider I day trade futures SPI S&P and RUSSEL its been loverly
BM

 

[brilliantmichael]

"best advice you will ever get"

Thanks for that. I always knew margin lending was a scam since it has the "margin call" feature that basically covers the bank's position at your expense, even if the mere price of an issue drops, even if the fundamentals don't change.

But I thought that using personal loans (from the major banks that is - not from credit sharks!) was okay? It'd just be like buying some furniture, or a car, but instead of buying these 'doodads', you'd be buying an income-producing asset like shares (i.e. a just like gearing). But now that you mention it, it increases the risk IF for some reason your bargain either turns out to be a dud, or stops paying dividends, - plus the bother of the interest repayments, which would eat quite substantially into any gains you make (most personal loans are in excess of 10%) - And where would you stop? Money can be an addiction too (access to credit that is). Prudence probably is better I suppose (but would love to snap up some of those bargains that have surfaced recently - oh man! )

I guess even if I've saved up a substantial amount before the market has started to climb again [it seems aeons away doesn't it? ], the opportunities will have changed, and we'd have to go bargain-hunting again. Oh well, nothing ventured, nothing gained. But don't venture what you can't afford to lose.

 

[numbercruncher]

I hear you - and sure your better off borrowing money to invest rather than buy TVs and cars etc.

But beleive me its hurts hard when you not only lose your own money but borrowed money you have to repay as well.

How would you be feeling now if you had not only lost the cash you have so far this week but say had borrowed 50k and taken a hit on that to ?

I think this advice is particularly important to you considering your personal situation, still being a student, working part time etc ...

When bad things happen they have an awful habit of snowballing.

You dont need the risk or the worry, in my humble opinion

 

[brilliantmichael]

In an ideal world, what they should do in times like this is to shut down the stock exchange! Obviously this cannot be done in the real world, but I think perhaps we could kinda imagine it ourselves! As long as your positions are sound, and you are materially comfortable (i.e. you have not placed any of your subsistence money into the market - which you never should - and which you implicitly but not obviously do when you margin borrow), and you are sitting on what is only a paper loss, it might be good to take a hike, take a holiday (not too an expensive a holiday though! - actually, forget about the holiday!!), and imagine the market has closed for the issues on which you sit on a paper loss. That's all you can do. If you have some cash on hand, then scout around, but for the rest of us - let us rediscover life away from the market! (Birds start chirping, the fields become bright, 'back to nature' rararara )

 

[barnz2k]

I just logged in to get an exact number.. im up 1% overall from entry...
thats down over 20% from recent highs..
back to square one..

If it wasnt for a few solid troopers like BHP and NAB id be up far far worse.

 

[lbradman]

Hullo I lost $6500 in my first 3 weeks of trading all during the start of this correction. That represents 12% of my total life savings of $50K. It makes it hurt more since that is from my LIFE SAVINGS so I would prolly jump off a building had it been any worse. I'm refraining from throwing all my eggs into the market now. Just taking it slow put $50K into riskless safe haven of savings acct earning paltry 5% return while whatever $$$ I make from my job going into my trading account. I'm sure with leverage and diligent money management I can get a big enough portfolio to trade from. I'm not saving for a house quite happy to rent for a long time while I work,save,trade and hopefully reach financial independence through trading fulltime.

 

[lbradman]

I should keep things in perspective guys,

At the start of the year my portfolio was worth $500k maybe, 4 weeks ago it was $2m, today probably $1.35m so for the year I'm still wayyyy up,


But I'm not worried, as the fundamentals haven't changed for me

Fear is ruling the mkts at the moment

Still Holy moly $500K! Are you a fund manager or institutional trader by any chance to have access to such a large capital?

 

[nomore4s]

Still Holy moly $500K! Are you a fund manager or institutional trader by any chance to have access to such a large capital?

lol, no it's all his

YT is abit of a legend in these parts, lol

 

[DionM]

I hear you - and sure your better off borrowing money to invest rather than buy TVs and cars etc.

But beleive me its hurts hard when you not only lose your own money but borrowed money you have to repay as well.

How would you be feeling now if you had not only lost the cash you have so far this week but say had borrowed 50k and taken a hit on that to ?

Two sides to every coin. Of my loan I took last week, some has disappeared immediately (d'oh!) but I've used some of the cash to buy shares that are currently depressed for no reason (e.g. Zinifex and Neptune Marine). I've also learnt to be more cautious. My plan was to increase my speculative stocks to ~40% of my holdings (currently ~10%) ... now I know better. Spec stocks stay at 10%, the rest is bluechips / stocks that pay dividends / companies that are actually producing something!

 

[Smurf1976]

8.7%-10.5% from portfolio/s peaks.
Now watching with great interest---sleeping well.
Looking for opportunity--not far off in my view.

This will however be prolonged and doubt if we see new highs for a long long time.

Much the same here though I'm expecting individual stocks and some entire sectors to see new highs in the not too distant future.

 

[Smurf1976]

I'm sure with leverage and diligent money management I can get a big enough portfolio to trade from. I'm not saving for a house quite happy to rent for a long time while I work,save,trade and hopefully reach financial independence through trading fulltime.

Avoid leverage unless you're damn sure what you're doing in my opinion.

Those using their own money aren't nearly so worried about corrections or even outright crashes and have virtually zero chance of going completely broke. Even the big players and their fund blow ups recently all comes back to excessive leverage.

 

[ta2693]

Avoid leverage unless you're damn sure what you're doing in my opinion.

Those using their own money aren't nearly so worried about corrections or even outright crashes and have virtually zero chance of going completely broke. Even the big players and their fund blow ups recently all comes back to excessive leverage.

I can not agree with you more. Leveraged position have to managed with strict stop loss.

 

[Captain G]

Hi smurf, which sectors do you expect to reach new high in the future ??

 

[Freddy I]

I'm with you Smurf.

I think that ppl will be doing some solid research over the weekend and that there will be some significant buying of cheap / quality stocks early next week.

I just dont see how blue chip companies could fall to levels where the div yield is > the cost of borrowing (via margin loan)....

eg ZFX div yield of >10


Then again Ive lost 15% in 3 weeks so who'd listen to me !

 

[ta2693]

Two sides to every coin. Of my loan I took last week, some has disappeared immediately (d'oh!) but I've used some of the cash to buy shares that are currently depressed for no reason (e.g. Zinifex and Neptune Marine). I've also learnt to be more cautious. My plan was to increase my speculative stocks to ~40% of my holdings (currently ~10%) ... now I know better. Spec stocks stay at 10%, the rest is bluechips / stocks that pay dividends / companies that are actually producing something!

Depressed for no reason or for the reason you do not know? If the first applies, you win, but the chance is not high. If second applies, you lose, I think more than likely, the second applies. I do not think I am a smart person with smart money.

 

[numbercruncher]

So did you all manage to sell today on the bounce so youll avoid the next leg down ?