Kevi, What a good bit of advice.i have printed it out so i can re-read and remind myself. one of my "rules" is the 10% rule- it a stock goes down by 10% I should automatically get rid of it by stop loss or action- so where was my rule when ERH went down? PREVARICATING- THAT'S WHERE- I HAVE TRADED ERH BEFORE AND QUITE PROFITABLY SO I GAVE IT THE BENEFIT OF THE DOUBT AND LET IT GO. ....and go.....and go...to -53%.
Of course, I could let it go til it is -75%- or I could grow a brain...
A good lesson if a bit harsh. Fortunately, I don't have the whole sheep station on it so it will be fine - but I can see how people could get into strife, SO EASILY.
