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.
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.
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
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?
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 ..
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.
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.
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