One way from here is to start planning for the turn or run back up.
Although it could be a while...
step 1....get the list of stocks together u wish to buy
step 2.....Put in your buy price at lowering intervals.
For eg:
I have buy orders with BHP at $18, $21 and $24.
Now none may get hit ever, then again 2 outa 3 may get hit.
If not all 3 get hit then it means ive managed to grab the bottom within $3.
If none get hit well tough luck I wont buy.
If all get hit then maybe the bottoms lower than I thought and im in trouble.
Anyway now while the market is dropping ( a nice word for crashing) , its not a bad time to sum up the positions u wish to take when things move back north.
I have about 12 stocks and have placed buy orders 15,20 and 25% from the current prices on average.
That way if the market or stock plunges another 15/20/25% then im in at what should be a reasonable level.
Then again it may have 50% further to go down.
Anyway thats my strategy from here to find a buy in or near the bottom of some of the stocks I have a fancy toward.
Anyone else doing something similar?
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