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Stupidest trade for 2006...

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theasxgorilla

theasxgorilla

Problem solved... next bubble.
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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.
 
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.
 
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.
Click to expand...

Buying more when its going down can be dangerous yes

But do u still hold UNX? Its flying atm!

thx

MS
 
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 :D

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

Position: do not hold.
 
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.
 
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...
 
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.
 
chops_a_must said:
Not asking for enough of the T3 things...
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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. :banghead:
 
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.
Click to expand...
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.
 
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. :banghead:
Just started reading Louise Bedfords "candle stick charting".... so 2007 will see me use more TA in both entry and exit points!
 
Kipp said:
Sold out of Mincor at 0.83.
Click to expand...

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 :)
 
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!
 
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
 
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 :D Check out my cool car :knightrid
 
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 :eek:
 
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
 
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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