Posted On: 07/23/2014 9:28:59 PM
Post# of 41414
If the record is a winning one, who cares about the losses? But, since you asked....
I can't remember the symbol, but it was one of the first trades I ever made in my Etrade account. I started with $200, two trades later it was $550. Then I got a text alert about a particular stock I'd been watching for a while, and I instantly shoved $500 into it. I kid you not when I say that 10 seconds after I bought shares, the stock shot from .045 (my purchase) to .14, and it fell just as fast. Within a few seconds, I was able to sell at .13, .12, and .11. $1500 profit in a few seconds.
So, sitting happily with by $2050 account, I moved another $1K from my bank and now I wanted to get really serious....I wanted $10K by the week's end.
And then it happened....the next text alert I got, I bought $2K worth of the stock, and tried to sell for a $200 profit but the volume dried up, and within 30 seconds I was down $1900. Most painful trade I'd made up to that point...over the next 2 months I grew that money back, but it was VERY difficult to do so.
Moving onto last October, when I found this company that seemed promising. I invested like $10K....then more, and more, and more, and by the time I was done, my position was worth $60K, with $11K in profit. Did I sell? FUCK NO. Gotta hold. I held until my position was worth $125K.
Then I kept holding.....and holding..................and holding..................
and holding.......down to $80K, thinking "nah, it'll turn around".......then $50K, "can't quit now, it'll explode if I sell"......and I pulled out at $45K.
For those of you calculating, that's a loss of $70K from the peak of the position's value. $70K. That's 170% of the national average salary. I sold the position in November and had to recover my funds...AGAIN....until I hit $100K and shoved it in Baltia at an average price of .016.
When I went to do my taxes, my accountant gave me a look like I was from Pluto. I showed him the growth curve of my account and he just shook his head lol.
I can't remember the symbol, but it was one of the first trades I ever made in my Etrade account. I started with $200, two trades later it was $550. Then I got a text alert about a particular stock I'd been watching for a while, and I instantly shoved $500 into it. I kid you not when I say that 10 seconds after I bought shares, the stock shot from .045 (my purchase) to .14, and it fell just as fast. Within a few seconds, I was able to sell at .13, .12, and .11. $1500 profit in a few seconds.
So, sitting happily with by $2050 account, I moved another $1K from my bank and now I wanted to get really serious....I wanted $10K by the week's end.
And then it happened....the next text alert I got, I bought $2K worth of the stock, and tried to sell for a $200 profit but the volume dried up, and within 30 seconds I was down $1900. Most painful trade I'd made up to that point...over the next 2 months I grew that money back, but it was VERY difficult to do so.
Moving onto last October, when I found this company that seemed promising. I invested like $10K....then more, and more, and more, and by the time I was done, my position was worth $60K, with $11K in profit. Did I sell? FUCK NO. Gotta hold. I held until my position was worth $125K.
Then I kept holding.....and holding..................and holding..................
and holding.......down to $80K, thinking "nah, it'll turn around".......then $50K, "can't quit now, it'll explode if I sell"......and I pulled out at $45K.
For those of you calculating, that's a loss of $70K from the peak of the position's value. $70K. That's 170% of the national average salary. I sold the position in November and had to recover my funds...AGAIN....until I hit $100K and shoved it in Baltia at an average price of .016.
When I went to do my taxes, my accountant gave me a look like I was from Pluto. I showed him the growth curve of my account and he just shook his head lol.
(0)
(0)
