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Online Share Trading

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SENS and Share price

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Not applicable
I see your point.Pray for my sanity guys.
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SimonPB
Valued Contributor
only one thing will save your sanity and everybody, yourself included, knows what it is ..
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Russ
Super Contributor
See it as school fees rather than a loss.Use what you learn here to make money later.The main thing is to limit your loss ie.always have an exit strategy.Personally I like to buy on support in an uptrend-that way your stoploss can be just below support (preferably a close below support,not intraday break of support).Just my 2c worth.
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Not applicable
This is one expensive lesson.You know what they say if you can't take the heat...I've definitely burnt my fingers here and if I ever recover the cost I'm definitely out of the stock market as a trader.
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SimonPB
Valued Contributor
no dude, now you going to try and 'get your money back' .. and you'll lose that battle as well .. either quit or trade to trade well, don't trade for revenge ..
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Not applicable
Don't worry Simon. I'm not going to gamble any more money but I'll just have to wait and see what this share does. At the moment I'm stuck with it as the loss is too high to contemplate selling. I'm in for the long haul. Yes, this morning I contemplated buying in at a lower price but just as well sanity prevailed. And its not Dude but Dudette
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SimonPB
Valued Contributor
dudette :) an if the loss gets bigger ??
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Not applicable
You're putting my intellect and emotions under pressure by posing that question. Don't you think I've thought of that. At the moment this share hasn't stabilised enough to make a decision. Their AGM is forthcoming and lets hope there is some positive feedback from their "negotiations". Yes I know " She doesn't have a clue what she's doing. Must be a blond" That's what you're thinking, right?
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Russ
Super Contributor
zm,it appears that 45c is support and resistance is about 55.My view is that if it gets up to about 53 or 54 then sell.If 45 does not hold then you could be looking at a drop to 30.
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grommet
Regular Contributor
zero also a option
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SimonPB
Valued Contributor
nope not what I thinking .. we've all been where you are right now .. trying to rationalise a loss and think your way out of it .. agreed that a clear head is required, but while the loss sits there taunting you a clear head is simple not possible ..
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Preston
Super Contributor
Then sell that bugger and move on.
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Franksays
Frequent Contributor
zm, I think most people on this forum have gone through this. I certainly did. The best is to sell out and take the hit. Then re-evaluate your situation. Dont let this be the end of you. I recommend using the free courses on here to build your knowledge. As a must I recommend Simons trade to trade well course. A wealth of info. Find out whether you want to trade or invest and use a strategy next time you buy something. Dont average down on something like this - it aint worth it.
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sponono
Super Contributor
the first lesson to learn in trading is take your losses when they are still small.
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Not applicable
Thanks guys. I appreciate the support and the advice but at the moment if I sell I will lose almost a third of my capital. Is it still worth selling?
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RisseN
Contributor
Losing a 3rd is better than losing half. Losing half is better than losing 3 quarters, etc. You should of had an exit strategy and stop loss in place from the beginning. Im sure you've learnt your lesson. This is a speculative stock. I would advise staying far away next time unless you know exactly what you're doing when it comes to stocks like this.
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Not applicable
eish - never never never get married to a share. Cut your losses now. You are not trading this stock (else you would not be having this discussion), and you have not properly invested in this stock either(otherwise you would not be doubting the fundamentals. To me, it sounds like you bought this stock on the publicized hype. SCL is a speculative play - pure and simple. There is not a trader or investor out their that will say different (except management, but why would they say anything else). Nothing wrong with speculating, but you must be prepared to lose. There are dozens of viable speculation strategies out there. Absolutely none of them will advocate overexposing yourself on a single stock
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sponono
Super Contributor
hope you took your loss on yesterday's rally
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Not applicable
I say buy at 1c.
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