Similar boat...
Hopefully not too much of a sob story, and a bit of a general reply that just happens to be quoting your post, but I have an average in the slightly more than mid-teens. A few very poorly timed buys in the 20s when Joondalup was announced.
I have a habit on shares of buying in before a spike, and then following up with another buy. Hard to learn that lesson.
I don't have any background in investing, so have hit that awful period a few times of holding through what seems like a pullback, and by the time I start thinking it may not be coming back, it's not worth selling. And then that nagging doubt about 'I've held this long, selling at a substantial loss will likely just have me on the sidelines when it comes back'.
I held another company early in my investing journey that went bonkers - I was up significantly. The inevitable pull-back that seemed like a speed bump. The company themselves were incredibly positive, and had no qualms making big promises about the huge things coming. Then the CEO resigns and they end up in VA.
Good lesson of buying a narrative instead of a business.
Just a train of thought, really. No insinuations this is equivalent. And for someone who hasn't been investing for decades, this end of the market is so much harder than it seems.
I'm at the point where I still think the product and market is an exceptional opportunity, but I'm also wondering if perhaps the market itself has seen through the opportunity.
My previous experience alluded to above was 'well, I've come this far and the idea is great - it's not worth getting out now' to having worthless shares I'm probably not able to write off for at least 6 months.
I tell ya, if I could somehow swap the majority of stocks I actually hold for the ones in my watch-list I decided not to invest in at the time, I'd be retired.
It's not been an enjoyable watch, and I can't even really justify pulling the trigger to get more at this level given all the above. Bizarre, given 22 cents once seemed attractive.
No matter how good the idea seems, or how low the entry... until it's 0, it can always go lower.
Tough game, and I share all your frustrations and tiredness.
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Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
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Price($) | Vol. | No. |
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1 | 500000 | 0.013 |
4 | 378411 | 0.012 |
1 | 45480 | 0.011 |
7 | 4926948 | 0.010 |
Price($) | Vol. | No. |
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0.016 | 761003 | 3 |
0.017 | 432215 | 2 |
0.020 | 213468 | 2 |
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