Hi Rony18,
It is a hard lesson that many of us have had to learn.
To quote Warren Buffet - "Rule No.1: Never lose money. Rule No.2: Never forget rule No.1!"
This sorts the sheep from the goats and is the biggest mistake that share investors make. Shareholders must, always, always, always, maintain their working capital by setting a stop/loss limit of 10% or 20% or so, when their stock's sp starts to go down. That way it is relatively easy to make up that ground in another stock or re-buy back into the original stock if it rebounds, and they have plenty of capital to make future profits.
Unfortunately very many shareholders, including myself, held onto KGL for too long and have had their working capital reduced by 50% to 80%. That amount of capital is very hard to make back up again in the short term. I sold out of KGL a little while ago and am trying to regain my capital in another stock.
Trouble is that I have done this before and so have many other stock holders. Even blue chip stocks can run into bad times and their sp can plummet. Selling out of these stocks at a 20% stop/loss is also the best way to go.
Many investors fall in love with a particular stock and hold onto it out of sentimentality, not from the cold, hard, calculated, money making perspective that is required to be a successful investor.
Its a pity about your boys' education fund. I've had to throw my dream of a super sized fishing cruiser out of the window, and will probably have to settle for a row boat!
Share trading is no place for the faint hearted or for the sentimentalists and it seems like I have to continue to learn these lessons the hard way.
KGL has been my worst trading nightmare and I believe that only Andash can rescue it. I had factored in all of the risks associated with this stock, but had completely overlooked the irrational views of the Kyrgyzstan people and their chaotic government.
But ...... if Andash does become a reality I believe that the sp will rocket upwards towards previous highs, and hopefully I will be on board for the ride!
Go Andash!
(There are plenty of studies around that show that by far, most traders and shareholders lose money! So we are not alone!)
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Last
9.9¢ |
Change
0.005(5.32%) |
Mkt cap ! $64.16M |
Open | High | Low | Value | Volume |
10.0¢ | 10.0¢ | 9.6¢ | $4.985K | 49.85K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 43337 | 9.7¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
9.9¢ | 4972 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 43337 | 0.097 |
1 | 80004 | 0.096 |
1 | 5500 | 0.095 |
1 | 5450 | 0.092 |
2 | 150000 | 0.091 |
Price($) | Vol. | No. |
---|---|---|
0.099 | 4972 | 1 |
0.100 | 129999 | 2 |
0.105 | 4840 | 2 |
0.110 | 40854 | 2 |
0.115 | 5010 | 1 |
Last trade - 15.35pm 19/08/2024 (20 minute delay) ? |
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