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Online Share Trading

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biggest boo boos

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Super Contributor
hey folks. time for some frank. been thinking, most info relayed is of successful trades, yet we have all buggered up big time at some stage in our learning process. would be interesting (and healthy for newbies) to hear some worst buys/mistakes, etc. mine was early on, probably second buy i ever did (via good old stock broker in those days). bought a dodgy share called Chillers, some kind of cold storage transport company. problem was i bought it simply cause i read a nice newspaper article on them! share dropped ... so i figure, hey time to average down, bought some more. share dropped some more, and pretty soon "bang", i have share certificates (we still had those back in the days) for toilet paper! hard lesson learnt...never buy any share simple on newspaper article, some analyst's say say, and particularly NEVER from a cocktail party rumour. at least i can look back now and laugh at myself ha ha
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16 REPLIES 16
Not applicable
Well I think Im about to relive my boo boo from last year. the market had been going up and up and up without a single red day so I figure "what goes up must come down" and it didnt. my head said the market can stay liquid for longer than I can but the gambler in me said give it a go?? OUCH. and now 10 minutes ago I bought TOPSBT... then I read your post and started to relive the past... SHOT.
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Contributor
And to think that some buy JDH and ABO without reading nice media articles. In your defence: at least someone (it was in the media - it had to be true)thought that Chillers were OK.
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Super Contributor
ABSA was sitting at R97... interest rate hike was looming the next day... all was set for a major correction in banking stocks. Little did I realise it was all priced in. Shorted ASA with some SSF's... lost a good couple of grand in the space of one afternoon. There are many more blunders but I'd have to write a book to cover all of those... oh dear...
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Regular Contributor
Nice reading your mistakes Gentlemen,I feel more cautious when trading in the markets.Theres allot of money to be made and lost. Hopefully with some advice from the more experience traders,we Newbies can learn a thing or two before trading.
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Not applicable
I bought Zaptronic...reason Dr C sed so and there was lots of noise on the forum...little did I realise all the forum noise was created by only 1 forumite ;-)...another booboo WLL reason ENL was doing well (pun) so pharmaceuticals must be hot. What did I learn from this...do your own research.
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Not applicable
Sorry that should have been Dr R.
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Not applicable
Goodie, DOW and NASDAQ tanking, maybe I can make my bucks back this time...
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Super Contributor
I'm sitting with a pile of MKX which i bought at 21cents. Yes, i must admit i made nice money on the same share just prior to its collapse (bought in at 20 c and sold at 47), so overall i'm still up, but here i sit with MKX which is unlikely to go to anywhere near to even 10 cents, let alone 20 for me to recover my money. An expensive lesson indeed. Although it still hasn't stopped me buying some JDH and ABO at their current levels - only a small portion of my portfolio, but obviously highly risky and no expectations of any realised value in the short term.
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Not applicable
Remember Leisurenet...
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Super Contributor
ha ha! just committed my biggest boo boo for 2007. have been hammering away at my laptop all day, so my brain she's a bit fried. decided time to get back into a specific warrant at 77, but instead of buying 8000 at 77, i offered to buy 77 at 8000! that's what happens when you get so used to clicking ok on a warning message. luckily the system seemed gracious enough to lock in at 77 (not 8000!) and only charged me one brokerage for the screw up and the 2nd trade to fix my bugger up. shew. at times like this you can only laugh at yourself. and back away from the keyboard.
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Frequent Contributor
Shorting a bull market. Playing (gambling) with wave warrants with a short fuse (did it again yesterday with great profits, but it is still luck and I was doing it more according to a controlled "system"). Those are my biggest boo boo's. My biggest long term boo boo: Not getting myself acquainted with technical analysis.
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Contributor
Haven't been trading that long, but my biggest boo-boo's are: Panic buying and selling without all the info - being on the wrong side of WAVE's overnight and then panicking and losing more... Now that I've got my TA up and running doing a lot better, but I have a lot of money to make up...
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Not applicable
I could be making my biggest boo boo right now - climbing into Sallies for all I'm worth...Eek ek se.
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Super Contributor
Still sitting with Randgold. Been suspended since before Kebble(RIP)committed assisted suicide.
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Super Contributor
come on boys, where all those high flyers? afraid to give us your horror stories? ;)
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Super Contributor
Bought 60000MKX @ 51c. Sold 60000MKX @ 14c. Put that down to school fees. I will let you know what my varsity fees were as soon as I can find those trades.
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