Allstocks.com's Bulletin Board: Lost alot of money...cry here!

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Posted by punkrocks3401 on :

I will start of by saying that my first time on stocks and i lost 200 dollars on ADVK because i bought it a .19 for 2000 shrs and now its at .085. WGFL bought at .04 and now it is at .032. *tear *tear

Posted by TimN88 on :

It happens. I lost like 400 on gwdl, but made up for twice that with cwir, gzfx, awe. Now if only GE would go back up (i have ALOT in GE for the long term, 5+yrs)...

Posted by DiQuiRiesco on :

Try paper trading for a month or two to get a feel for how the market flows, and more importantly ebbs. This is not a game for the weak minded, this is not a game for the weak willed. If you drive 62 in the left lane this is not your game. WAKE UP this is the real world. Take your losses and learn why, take your profits and learn why. There are no no kleenexes here.

Posted by gimmikk on :

quote:
Originally posted by DiQuiRiesco:
Try paper trading for a month or two to get a feel for how the market flows

I have to agree.. paper trading is a very good way to get the feel of the market and it's up's and down. Another good way to learn the workings of the stocks is to pick 5 stocks at random , then just papertrade them on a daily basis . Learn how to predict the trends of each as best as possible without overwhelming you with too much data to absorb from maybe too many stocks to watch... Learn to buy on down days and sell on green days .

The main thing to remember is that everybody will take a few losses from time to time . It's part of the market and the game, not to mention part of the appeal for some... But the main thing to learn is you only take a loss if you sell.

Also one last thing I always try to consider before I sell.. is that if I was convinced yesterday that the stock was a good choice to buy into.. what would make me sell tommorow if it happens to go red on me. This is where your research comes into play . And the ability to deal with the ever changing trend of the market. It's all psychology. Learn that part and you will make the profits.

just my .0001 cent

Posted by poorman on :

quote:
Originally posted by punkrocks3401:
I will start of by saying that my first time on stocks and i lost 200 dollars on ADVK because i bought it a .19 for 2000 shrs and now its at .085. WGFL bought at .04 and now it is at .032. *tear *tear

Except for a lucky few we all lose on some of our first trades. This is the price you pay to learn.Pay attention to the people who post on this board there are a lot of experenced traders here, if you read the posts you will get some good info on how and when to trade. I am down on most of the stocks I hold right now but that does not mean that they are a loss. The market swings both ways so do your DD and good luck.

Posted by edjmac on :

I ALWAYS TAKE A POSITION IN A CO. I BELIEVE HAS A FUTURE. I ALSO PUT A FEW DOLLARS ASIDE TO BUY MORE IF PRICE DROPS. A PENNY OR SO NO. BUT IT DROPS AS MUCH AS ADVK DID, I'll BUY MORE ON DIPS. YES YOU'LL KICK YOURSELF IT IT GOES UP, UP AND UP BUT MOST STOCKS ALWAYS PULL BACK. LAST TIME I KICKED MYSELF (THREE TIMES) WAS MY POSITION IN MDDM. EXCUSE ME. I'M GOING TO KICK MYSELF AGAIN.GOOD LUCK

Posted by wholehealthgirl on :

Paper trading is great in theory. However there is nothing like putting your money on the line to teach you. Paper trading can only tell you what you put down... there is no guarantee that your orders will be executed at that price. I'm real glad I didn't paper trade mddm, though there are some I wished I'd never touched. Good luck trading!

Posted by Bob Frey on :

Things that you folks may find important in the future...

Always learn...

Don't look in the rear view mirror.

Posted by blackice318 on :

Punk I have a few questions:
1.Why did you buy this stock or what made it standout as a buy signal?
2.What kind of trader are you?

Posted by usmcir0nfist on :

you don;t know loss until you look at SNG's chart. That was my first taste of real loss.

The everything just starting dropping for me. Hopefully the end of this week will be better than the end of last.

ADVK is re-launchin in the 22nd, so if you still have those advk stocks, I would buy more at a low price. buy like 5000 more if you bought 2000 before.

Just my opinion. I mean it could always go lower...and lower...and lower.

But I took a chance and got in at .16, cried a few days and got more at .08 so who knows. Maybe the 22nd will be a good day.

Posted by blackice318 on :

Yea id love to swictch losses with him, LOL. Your not playing enough for it to really hurt. Start putting 3-$5K in a stock and see how being down $800-$1,500 is on one trade.

Posted by Bob Frey on :

Try 10k in less than 20 min... Still hurts...

Made it back in the next 10 though.

Posted by vado on :

I have lost a lot too but I am learning.
I figure it is part of the learning process.
I mean you don't start a new job and expect to know everything about it.
You will lose more than you will win but one good pick that breaks out could make all the losses we have suffered seem insignificant..look at it this way...where would you be if you were not playing the stock market...a dead end job that you probably will be at for the rest of your life with no hope or chance of success...but at least this is what you think about when you are at your job and it makes you feel better to know you have a chance of a better life.

Posted by brincher on :

quote:
Originally posted by punkrocks3401:
I will start of by saying that my first time on stocks and i lost 200 dollars on ADVK because i bought it a .19 for 2000 shrs and now its at .085. WGFL bought at .04 and now it is at .032. *tear *tear

I would like to say first of all do not take your losses and learn......HOLD the stock and hope for a recovery. You havent lost anything yet, the stocks are just down. You dont lose until you sell for a loss.

Posted by smackdaddy33 on :

quote:
Originally posted by brincher:
I would like to say first of all do not take your losses and learn......HOLD the stock and hope for a recovery. You havent lost anything yet, the stocks are just down. You dont lose until you sell for a loss.

As quickly as losses can multiply in volatile pennyland, riding a stock down can be an unwise decision. One should always decide on a maximum tolerable loss point for each position held.

Posted by dieselmh on :

I lost 3,000 on AQCI! I thought the company showed real promise, but I was wrong. Learning is tough sometimes, but that's just life.

Posted by realityinc21 on :

quote:
Originally posted by smackdaddy33:

As quickly as losses can multiply in volatile pennyland, riding a stock down can be an unwise decision. One should always decide on a maximum tolerable loss point for each position held.

YEAH DADDY--I WILL SECOND THAT!!

------------------
DIANA

Posted by brincher on :

quote:
Originally posted by smackdaddy33:

As quickly as losses can multiply in volatile pennyland, riding a stock down can be an unwise decision. One should always decide on a maximum tolerable loss point for each position held.

So your saying if YOU bought ADVK at .18 and its at .065 today, you would sell it? lol Keeping in mind we are answering a question for a new trader. Even though 2 news reports have come out in 2-3 days...reporting good news at that.

[This message has been edited by brincher (edited March 17, 2004).]

Posted by id4rox on :

I'm down about $2,000 in gwdl and trbd. Not selling and stuck in waiting for somewhat of a recovery.

Posted by roger7485 on :

I made 4000 in GETC going up. Lost 3800 in it coming down

Posted by Upside on :

I can offer up one more piece of advice. You will see a lot of people screaming "buy this stock now" on this and other boards. Don't ever do it based on one persons advice. Instead, investigate the stock yourself. Convince yourself that you should buy it. Follow the thread and see what others have to say. Follow up on their research, etc. In short, sell yourself on it, don't let someone else sell you on it.

Posted by Ming on :

I always sell stocks when stochastics rapidly approach "overbought". This is when people are screaming "buy! buy!" A lot of these "lottery stocks" never come back.

Unfortunately the reverse rule doesn't always apply. I bought NNCO when stochastics were at "oversold", and they've been sitting there for about a month now as the stock slowly dipped down to what I'm hoping is a solid bottom now.

Posted by cabbage22 on :

ming you need to buy when stokes are oversold and moving towards 50, along with confirmation by other techs

quote:
Originally posted by Ming:
I always sell stocks when stochastics rapidly approach "overbought". This is when people are screaming "buy! buy!" A lot of these "lottery stocks" never come back.
Unfortunately the reverse rule doesn't always apply. I bought NNCO when stochastics were at "oversold", and they've been sitting there for about a month now as the stock slowly dipped down to what I'm hoping is a solid bottom now.

Posted by Ming on :

That makes a lot of sense, Cabbage - guess I was trying to predict movement of a stock, but buying when the stochs are going up from oversold makes more sense than buying just at oversold or dipping towards oversold.

With NNCO it had an up and down pattern that seemed predictable - unfortunately that patter has been broken of late.

Posted by blackice318 on :

Yes me and cabbage can definently speak the same language.

Also when trading before buying Im hoping each trader or investors initials a stop limit because if you dont you could get burned badly and make poorer decision as it falls more. Hoping for recovery is like hoping for a new heart transplant. It could be to late before you get it.

Translation:HOlding and hoping for a recovery may lead what you hold to bankrupts, splits, etc.

Lets make sure we know the difference though between a trader and a investor. It seems me and Cabbage are traders and a few others replying, but the rest of you guys are investors. Your views are fundmentals, my views are technicals with a backbone for fundamentals.

Posted by keithsan on :

Ming,

Also check out and learn to use other techs that show overbought/oversold.

CCI is one.

keith

Posted by Purl Gurl on :

Best strategy is to get to know a stock
better than you know your lifelong lover.

Fundamentals, technicals, officer personal
information, history, gossip, absolutely
anything and everything, including if the
front desk secretary wears panties or not.

Research also includes email to the company
as well as phone calls if deemed appropriate.
How people respond, if they respond, is an
excellent gauge of intent and intelligence.

A wild card for you, a tarot card of death,
which was never a factor in investments
until recent times; terrorism. How do we
deal with this wild card? I don't have
a single clue. Effects of terrorist attacks
range from nothing to market devastation.

Like a challenge? This will test your skills
at research and digging up distant obscure
information which proves very valuable.

GCHC is a well known pump and dump stock.
Has been for years. For yourself, to test
your skills, find a document which shows
GCHC being pumped and dumped back in 1996.

RVNM, a well known pump and dilute stock
earning the owners a nice living without
ever returning anything to investors who
support their lavish lifestyle. Test your
skills. Has the wife of the CEO produced
a record album? Can you find a picture
of her? Finding those will confirm you
are on the right track to good research.

Purl Gurl

Posted by keithsan on :

NO PANTIES! Now thats a good stock!

quote:
Originally posted by Purl Gurl:
Best strategy is to get to know a stock
better than you know your lifelong lover.
Fundamentals, technicals, officer personal
information, history, gossip, absolutely
anything and everything, including if the
front desk secretary wears panties or not.
Research also includes email to the company
as well as phone calls if deemed appropriate.
How people respond, if they respond, is an
excellent gauge of intent and intelligence.
A wild card for you, a tarot card of death,
which was never a factor in investments
until recent times; terrorism. How do we
deal with this wild card? I don't have
a single clue. Effects of terrorist attacks
range from nothing to market devastation.
Like a challenge? This will test your skills
at research and digging up distant obscure
information which proves very valuable.
GCHC is a well known pump and dump stock.
Has been for years. For yourself, to test
your skills, find a document which shows
GCHC being pumped and dumped back in 1996.
RVNM, a well known pump and dilute stock
earning the owners a nice living without
ever returning anything to investors who
support their lavish lifestyle. Test your
skills. Has the wife of the CEO produced
a record album? Can you find a picture
of her? Finding those will confirm you
are on the right track to good research.

Purl Gurl

Posted by punkrocks3401 on :

quote:
Originally posted by blackice318:
Punk I have a few questions:
1.Why did you buy this stock or what made it standout as a buy signal?
2.What kind of trader are you?

Answer:
1.ADVK stood out as a buy signal because i found it really interesting because i am in a small band

2. I dont know what kind of trader am I but i can tell you this. I am fifteen and worked hard for that money. I gave a couple of hundred of dollars to my relative to put in for me in his account. So whenever i wanted to put money into a stock i told him where to put it.

I lost $200 dollars.Maybe i might try in several months later or when i am eighteen but i sort of stepped into a hole. Thanks everyone who gave me some advice i am saving it in a file for the future.

Posted by usmcir0nfist on :

Like I said if you haven't sold those stocks yet then just hold onto them until the 22nd when they re-launch and see what happens.

You haven't lost money until you sell, so just be patient and see what happens.

Posted by smackdaddy33 on :

quote:
Originally posted by usmcir0nfist:
You haven't lost money until you sell, so just be patient and see what happens.

opportunity cost ring a bell?

Posted by blackice318 on :

usm i have no idea where your coming from. If you keep going by that keep waiting or wait till this and that, you may very well be a broke trader.Take Your Losses & learn your lessons.

Posted by 2pawn on :

BLACKICE WOW ARE U REALLY WARREN BUFFET U SOUND LIKE HIM WOW I LOE UR ADVISE U SHOULD HAVE UR OWN THREAD AND CALL IT BLACKICE WOW UR WORDS ARE LIKE HEAVEN PLZ BLACKICE GIVE ME MORE ADVICE I STILL HAVE FEW THOUSAND CAN U HELP ME LOSE THEM PLZ

LOL SUP BRETT

Posted by id4rox on :

On the topic here of taking your losses... a small story of my own.

I bought in to VNTB a month or two ago, and struggled for a week to sell to break even at .004 (minus comms). the company filed bankruptcy, and volume completley died. Two months later now, the company is higher than it's been in a long time, prospering up at .015, up nearly 370%, and still rising.

This goes to show that even in the worst of situations when you think it's over, it's not...

Posted by usmcir0nfist on :

I don't recommend holding all the time, but with ADVK I do. At least until Monday. They are relanching their website and they have good support forming at the .07 range and no resistance until the .17 range. And the volume, if everything goes as intended at their website (www.itsfun.com) the volume should be 2 to 4 times higher than normal.

So no, don't hold onto all losing positions, and i'm not necessarily saying for him to buy more ADVK, but in this case at least hold it until monday or tuesday.

I bought more tho... But what do I know.

Posted by VNGNTN1 on :

TAKING LOSSES
My stategy is if I review a buy and circumstances change to the point where I would not buy with new data, then I sell. Loss or gain.
VAN

Posted by PsychoMonkey61 on :

so how about i start off with JRSE and turn my 2 hundred and some change into 3 hundred and some change

Got into WTEQ 100 percent buy on all the chart readers and it goes down lol

Take losses and get into ADVC

Hear some much bs that ADVC is a good stock and bleh going to go up bleh and it goes down

so at this point im like F it...

i've watched XYNY go from .08 - .12 - .14 a DOZEN times.. and it normally stays around .06 and .08 so im thinking well this has support and is just going to go up. I buy it and in two days it goes down to .03 lol

my account is now worth 60 dollars.. so i am stuck waiting on XYNY to pull a rabbit outta its arse and go back up

Posted by cabbage22 on :

Reading this thread reminds me of myself when I started trading, typcial beginners syndrome.

Following American Bulls.com or barcharts ratings will get you nowhere, they are basing of historical movements. They are informative, but not crystal balls.

When you initiate a position you need to have a TARGET price as well as a STOP LOSS price. You also need to figure out the amount you are willing to lose percentage wise, the most likely downward move, and base your share position on that. If the trade goes bad, you lose that pre-determined percentage, if it goes well, you can always add later. The trend is your friend. Cut those losses short, and ride the gains.

Blackice could you email me at cabbage22@hotmail.com

Posted by billy70466 on :

I read somewhere that 9 out or 10 micro penny stocks are scams and it went on to say that some of these companys didnt even have a product even on the drawing board!! Also I have been watching about 30 different penny stocks for a year and I can say that after a year 25 of them are dowm and never really recoved. I think there is more to this than what we all know, maybe its the mm who knows but its just too risky and it smells kinda fishy. just about every stock I bought into has been down for a year like they say I havent loss until I sell but it feels like a loss lol So I come to the point where Im not doing it any more I work to hard for the money I have lost in this and not counting the time i spent at this computer worrying and starring until my eyes were red. so good luck and think about it. the big fish eat little fish

Posted by cabbage22 on :

If you do research you can pick out the scams- its really not that hard.

Posted by DOUBLE L on :

Being 15 you see stuff we would never see. Find a company you like. Get to know what they do how they work. Talk to ceo anybody in the industry. Buy into the idea and hold fast. Just my thoughts most penny stocks go up and down all year long. Can it ever go back up. The answer is yes. I have had the worst stocks around. I had sssu bought when it was gmpt at .015 put a sell while on vacation at .20. They dropped bs news and it ran to .20. Some of the companies of the future that have penny stocks are fgwc and cwir. The have towers and send data over the airwaves. In ten years you will not need a phone/cable line to get the internet. These are my picks long term. Find your own companies and industries. And last but not least never chase a stock unless you are going to flip it. Most stocks come down just as fast as they went up. Cash is king always try to get into free shares and pull some profit when they run. Do not be afraid to sit on some cash untill you find what you like.

Posted by competentone on :

quote:
Originally posted by Purl Gurl:
...[know] absolutely
anything and everything, including if the
front desk secretary wears panties or not.

If you know that much information, you had better be sure you understand insider trading laws!

And for "Purl Gurl": What if the front desk secretary is a man? Do we still want to know whether or not he wears panties? (Just had to point out the "sexist stereotyping" again.)

Posted by WWJD-thru-me on :

Competent One -Purl Gurl never specified if the front desk person was a man or a woman who wears panties-the person with the sexist bias isn't her-Debi

Posted by competentone on :

quote:
Originally posted by WWJD-thru-me:
Competent One -Purl Gurl never specified if the front desk person was a man or a woman who wears panties-the person with the sexist bias isn't her-Debi

My comment on "sexist bias" relates to an earlier "discussion" with Purl Gurl on this board--because I was expressing a "strong opinion critical of her" she automatically assumed I was a man, (she commented something to the effect, "You're just like all men who think just because I'm a woman...") when there was nothing I had posted to indicate my sex/gender. (I'm sure the old thread is still there.)

Her assumption about me exposed a "bias"--my comment above was just a "nudge" and "wink" response to her--generally, I agree very strongly with a lot of what Purl Gurl says!

I give credit when I think credit is due, and criticism when I think it is deserved. Some people don't like that; they want people to agree with them all the time and take it "personally" when others are critical. I haven't drawn any final conclusions about Purl yet, but some of her comments during our first (and last) exchange lead me to believe she has difficulties accepting criticism. (She'll probably say, "I'm not worth a response...")

Posted by bauer on :

Losing is ok. You can't ALWAYS win. Just keep your losses low. I just lost a few hundred on fxgp. Even more on advk and gbll. Thank god for qbid.

Posted by stocky1170 on :

You're not alone. Just about any trader I know has lost on their first trade or trades including myself. It's a part of learning the market. Paper trading does help but it's nothing like having real money on the line and seeing if your orders do actually fill. Anyway, FWIW, you might want to:

1) Define your type of trading strategy...Daytrade, Short-Term, Mid-Term, Long-Term, etc....
2) Differentiate between the NYSE, Nasdaq, OTC and Pink Sheets. If you decide to deal with the latter, understand that there is much more volatility which means big gains can be had but big losses can also occur if not careful.
3) DO DUE DILIGENGE! Charts, stochastics, fundamentals, support levels, etc....
4) When you do decide to enter, don't go all in because if the stock drops (and all have pullback) you can always average down.
5) Let your winners run but no when to get out (I look for overbought signals).
6) Always set a stop/loss limit. I usually set mine at 10-15%. And if it hits that and I'm out, I have cut my losses and I don't look back. There are plenty of stocks out there just look for the next one and start the process all over.
7) I NEVER fall in love with a stock because I am a trader not an investor....again, you have to decide what type of trader you are so you can map out your strategy before you do anything else.

Hope some of this advice helps and, remember, there's always some form of risk when dealing with the market, I believe, ultimately, in trying to minimize the risk.

Posted by competentone on :

quote:
Originally posted by stocky1170:
6) Always set a stop/loss limit. I usually set mine at 10-15%. And if it hits that and I'm out, I have cut my losses and I don't look back.

Generally the post had good information, but never, ever, set a stop-loss limit order on a pink sheet stock; the Market Makers (MM) can see your order and--with the right low volume--can execute a trade (sale) using a single share to drop the price below your limit, take your shares at the limit price, then let the price ride back up to its former level.

If you're trading on the pinks, you just have to be willing to hold and accept the volatility. Trying to use stop-loss orders will just help make the MMs rich!

Posted by TheRealSlimShady on :

You havent lost anything yet! Dont even start crying until you are in the thousands. When its good its REAL good and when its BAD its real bad. Fact is I make A LOT more than I lose but in the start I lost my ass so chin up and do your time gracefully we have all been there. Hell I dont even care when I lose money now becouse I know I will make more much more than the loss. JMO!

Posted by stocky1170 on :

Thanks to competentone for pointing out that it is not wise to put a stop/loss limit on Pinks....he is absolutely correct!! I should've clarified that I make a mental stop/loss note and execute only when it hits that point. Just goes to show you that paying attention to every detail is critical. Also, that there are many good people and traders involved on this board. Thanks, again, for pointing that out. Remember, we're all here to help each other out and make $$$$.

Posted by Keith on :

I got AURFQ on monday at .034 paid $1100 and dropped to .09? when I went to work. And now the stock is not even on the market. My account is down about 3k from 3 weeks ago. I better start learning fast.

[This message has been edited by Keith (edited March 24, 2004).]

Posted by poorman on :

quote:
Originally posted by TheRealSlimShady:
You havent lost anything yet! Dont even start crying until you are in the thousands. When its good its REAL good and when its BAD its real bad. Fact is I make A LOT more than I lose but in the start I lost my ass so chin up and do your time gracefully we have all been there. Hell I dont even care when I lose money now becouse I know I will make more much more than the loss. JMO!

Not a good answer, don't cry untill your in the thousands. If you have a lot of money to play with that might be ok but a 30-40% drop is the same if no matter how much you have. New investers often only have 1-2000 in the market so your comment is out of line for someone asking advice.Hope you don't take offence at this as none was intended, we are all trying to help a newbi.