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My Worst Pick Ever
- Thread starter burglar
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hahaha yeah it was, but seriously I only feel sorry for her....
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Hi tech/a,
burglar needs help.
EXMOA buyer at .001
should I make some more beer money
and reduce my exposure i.e. portfolio heat?
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Hey burgs,
A good lesson to be learnt form Matty77's experience is don't follow tips from other people.
If your trading (esp. leveraged products) i think you need a trading plan that triggers entry amd exit. This can be based on fundamantals or technical analysis but decisions should be based on something sound.
You could also ask yourself 'Is being exposed to the options keeping you up at night?' and secondly 'How much beer will it get you?'
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Um NONE.
IF the buyer is at .001 it means he had to get them for free to sell them at a profit .
at best he bought them at .001 and taking a brokerage loss
other than that he bought them at .002 and taking a 50% losss ...
anyhoo i am now annoyed for even taking the time to post on this silly scenario.
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I think the above is the case and is what i based my post on.
Its not really a silly scenario to comment on when some stands to lose 50% of their investment.
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Nunthewiser not sure what you are banging you head against the wall for. I think you are confused about the situation you are commenting on. Burglar said previously that the options were bought at .002.
Then burglar posted there is a buyer at .001 thus my assumption is if sold there would have been a 50% loss (exc. commisions). Or you could say burgler would get 50% of the intitial investment back to buy beer with.
Someone correct me if i am wrong?????
Then burglar posted there is a buyer at .001 thus my assumption is if sold there would have been a 50% loss (exc. commisions). Or you could say burgler would get 50% of the intitial investment back to buy beer with.
Someone correct me if i am wrong?????
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luke256,
Pls don't call me burgs, another member here goes by that name.
To clarify, I posted this in EXM thread earlier, ...
"Mr Kennas,
Being self-taught, my mentor also self-taught, I have trouble finding names.
Is this what you meant by averaging down?
03-09-2009 Sell EXM 50,000 0.0140 $682.01
29-05-2009 Sell EXM 87,638 0.0170 $1,471.86
13-05-2009 Buy EXM 87,638 0.0110 $982.01
17-12-2007 Buy EXM 25,000 0.0380 $967.99
10-12-2007 Buy EXM 25,000 0.0430 $1,092.99
Thanks to you, I have found the answer I sought since
22 November 2010, when I accidently fell into ASF.
I am in trouble with EXMOA because the underlying derivative has been
manipulated by forums, newsletters and prominent magazines.
I failed to do stop loss early on.
I missed an early chance to take a profit.
I was greedy and now comes the paying of the piper.
I fear they may now sit on the bottom till they expire worthless.
Or consolidate 1 for every 10 held (or worse) followed by erosion of the Share Price.
Not going there again.
If the buyer of EXMOA at $0.001 is still around, I will shift some today!
You have taught me a valuable lesson. Many thanks."
10 4
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Oh! One last thing.
MGK are stilll around!
They are still pursuing a future with Magnesium.
Albeit their core focus has changed to Iron!
Do not trust them until they lay concrete.
An artist's impression of a factory,
in a glossy magazine, is just not sufficient!
burglar
MGK are stilll around!
They are still pursuing a future with Magnesium.
Albeit their core focus has changed to Iron!
Do not trust them until they lay concrete.
An artist's impression of a factory,
in a glossy magazine, is just not sufficient!
burglar
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Craton
Mostly passive, contrarian.
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Nice thread and very apt to share clangers and the experience learned.
First loss was OzEmail, lost a couple of hundred on the takeover. Dot com debacle.
TLS, biggest realised loss just shy of 4K, whatever was left was split between ANZ and WBC, ha, that's over 8yrs ago now. Best move ever, turning a loser into two winners.
To me, BSL hurts the most where a nice 5K profit (I was too greedy) turned to a loss late '08 and still a paper hurt of 3K odd. Can't remember if Comsec had Stops available back then but I obviously didn't have one in place, then that stupid consolidation... when I look a BSL now I just shake my head. Probable offset it against a gain down the track.
To be fair on myself though re. BSL, at that time my eyes were firmly off the ball due to a couple of serious health matters within my family, with lots of travel to various cities for specialist treatment these simply had to take precedence, as family should.
First loss was OzEmail, lost a couple of hundred on the takeover. Dot com debacle.
TLS, biggest realised loss just shy of 4K, whatever was left was split between ANZ and WBC, ha, that's over 8yrs ago now. Best move ever, turning a loser into two winners.
To me, BSL hurts the most where a nice 5K profit (I was too greedy) turned to a loss late '08 and still a paper hurt of 3K odd. Can't remember if Comsec had Stops available back then but I obviously didn't have one in place, then that stupid consolidation... when I look a BSL now I just shake my head. Probable offset it against a gain down the track.
To be fair on myself though re. BSL, at that time my eyes were firmly off the ball due to a couple of serious health matters within my family, with lots of travel to various cities for specialist treatment these simply had to take precedence, as family should.
