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Online Share Trading

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Need some direction here?

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Super Contributor
Barry, John, Hennie? Should I take a R160k loss and look for better opportunities or hold on. You know me, not a long time investor,maybe I am answering my own question.
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30 REPLIES 30
Not applicable
there are 3 rules of a successful trader: 1.cut your losses. 2.cut your losses. 3.cut your losses.
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Super Contributor
Maggie... I really think you need to stop. think and ask yourself.. Is buying highly speclative shares in a bear market working for you???...Not only should you serriously consider your exit stratergy.. and how much you are willing to lose before you lose it. I think you need to review the buying stratergy as well .. after all making R10 in 4 months would have put you in a better postion than you are now in... I know its not sexy and I know you have money to burn... but really would you not rather have the money in the bank and spend the cash on having some fun.
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Not applicable
Ally, you applying that philosophy on your Naspers trade that you were advocating shorting into infinity? And Maggie, I think you might be asking the wrong question. Perhaps the issue is, where are you most likely to recover the R160k and make profit - on SIM or on some other stock that is moving at the moment.
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Super Contributor
I am assuming you are talking about the Simmers Share and not a warrant? If this is so, I would hold on for a while, typically the last quarter of the year is good for gold and you may be able to claw back some of the losses (Disclaimer: i do not hold any gold shares)...
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Valued Contributor
why is the last quarter good for gold ??
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Super Contributor
Maggie. You are already up 32% from the low. Consider keeping the share for the longer term. It will regain some strength with the rest of the market. Most of the downside has already been factored in. Selling at a low to try to enter this market with another share is maybe more risk. There will come a day again when some penny stock letter is going to punt this share again and maybe after a nice run it will be a good time to exit. I can see the share at R4 again within a year. When in doubt do nothing. I am looking at entering from these levels. Do not feel alone in the fact that you have taken huge losses. Mst of us has taken these knocks. Its only a loss if you sell.
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Frequent Contributor
it's only a loss when you sell......???
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Super Contributor
Maggie did you go long or short on this stock?
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Super Contributor
that is ***** advice... its a loss if its a loss.. I have no idea about the going on at simmers. but what I do know is this... if its a short term trade set a stop and stick to it... A great trading idea is sell it if it red at the close on the first day of purchase... as you obviously got your timing wrong. it keeps the losses to a very small amounts and there will always be another chance to get the green.
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Super Contributor
Not sure why, but I have just noticed traditionally this has been the trend ... let's review and chat in the New Year.....
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Super Contributor
lol...check the graph...
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Valued Contributor
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Super Contributor
simon dont you know about this fabled indian wedding myth...
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Valued Contributor
huh ?? I got no invite to a wedding ??
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Super Contributor
sounds like it time for a party...prehaps we sould drink gold tequiula in the last quater not red wine...red is so last seasonj
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Super Contributor
Well guys fact is she didnt sell on a stop a loss. The share is pretty low with the rest of the market. Should she really sell now at a huge loss without having something else in place. What if she sells now, buys something else and the markets correct again? Jumping in and out of shares in this market may possibly be riskier.
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Super Contributor
Additional shifts are worked in the 4th quarter on SA gold mines to give employees a longer X-mas/New Year break. So gold produced in Q4 should be more than normal with no significant increase in costs. Labour costs of around 40% of total costs remains the same.
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Valued Contributor
makes no sense .. extra shifts to compmesate for lost holiday shifts equals same number fo shifts ??
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Super Contributor
Hi Topgun, chart looks hectic:-) Maggie, my advise is to hold till next week Friday and then make your decision.
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