Binone - I agree with you completely. I should be put away...

Binone - I agree with you completely. I should be put away before I do more damage and loose the house, wife and everything else.

Where I went wrong with all my investments is that I made a point of getting to know the CEO's of each company I invested in. Natural Fuels (NFL) was one of my biggest losses of $400,000 because I put to much trust in Richard Selwood. I also lost $200,000 in Agri Energy (AAE)because I got to know Richard Anderton to well and now I lost heaps in Neptune because I put too much faith in Christian Lange. MFS Limited I never got to know any of the board but it was a big surprise when it went under. I am totally over getting to know board members and putting my faith in them and the company. In the future it is just fundamentals and gut feeling. Yeah sometimes I like to find out what people are looking at on Hotcopper. I have made some big mistakes there as well by going with posters thoughts but now I look much deeper into the company. Five years ago it was very easy to turn $20,000 into $200,000 with Resource stocks such as Mt Gibson. Still possible but again I reckon only with Resource stocks. Some of the replies I got to my post on Thursday I have had a look at the stocks and some of them I reckon could easily be 10 baggers. Just be aware when I talk about 1000% profit I am talking about 3 - 5 year time period, I am not talking about within a short period of time, though I have seen some stocks achieve such a dramatic rise. To now get myself out of trouble financially I am going to start with $20,000, identify stocks I can easily double my money with, pay the profit off my debts and then re-invest the original $20,000 into another stock. Mind you I will be very careful about which stocks I invest and use stop losses but I do personally believe it can be done. I have watched and invested in Resource stocks for many years now enough to know why the share price sky rockets and then falls back in price. It is those spike's in price I hope to catch. I am no longer interested in service companies and companies that are investing in new industry / technology. I thought Bio=Diesel would be big and it would have been if world food prices had not skyrocketed.