Starting Disclosure: I am not a massive share trader, have a decent sole trader job with good income and no super, so have invested in 6 or stocks to limited levels over last 4 years. I have been in 2 Blockchain (original) stocks in FFG and OOK. I have posted sporadically on things a few times a year.
Both stocks had huge spikes in 2018 followed by crushing return to earth. Those spikes were rely just on Blockchain hype and FOMO at the time. I managed to sell some OOK on way down to take some profit and not quite freehold 3m shares which has since been a disaster and will likely never see that money again.
FFG was so hard to watch. After not selling any on 2018 wave, the last 3 years have been brutal. However, kept accumulating when I could and averaged down to 3.5m shares at 2.5c. I believe FFG is a good long term play which has a drastically overinflated price at the moment. For me I couldn't watch another 2 years of massive retrace and then waiting for the price to increase - even though I am sure it would. I sold 63% of my holding at an average on 20c and have paid off my mortgage. This is not said as a 'pat me on the back' invitation. With the volume has come so many new posters on this forum all with advice, comments, theories. Plenty willing to give advice to 'mum and dad investors'. Here is my advice:
Read all of the posts - do not act on any one of them. It is all a source of information: peoples opinions, links to material, facts and figures. All valuable. Pay more attention to those who have held for a long time as they are likely to have a better history, but do not simply ignore newcomers who may have a different perspective.
Massive swings bring big emotions, stress, excitement, fear. I had them all in the last few days. What if it goes to $1, I would be a millionaire! What if I don't sell any and it tanks back to 5cents, I had the opportunity (for a fleeting few seconds) to sell at 40c and could have had $1m. All competing emotions.
My best advice - have a plan, and stick to it, especially in spec sticks. The plan should be based on what would be a good profit is for you versus what you could lose. And stick to it. I failed at this yesterday. I made a decision that 30 was my selling point but as it sped up I changed my mind - immediate thoughts of grandeur, the "millionaire". In the end, sell average of 20 cents. So i have a nagging annoyance that I could have made 1/3 more. But this morning I told my wife and 9 week old that we don't have a mortgage anymore (well not in a 2 days when money clears) and it was the best feeling.
I still get to watch the ride now and have skin in the FFG games but if it all went belly up tomorrow I would still be smiling. I don't know if any of this helps anyone - but that's my 2 Cents.
FFG Price at posting:
16.5¢ Sentiment: None Disclosure: Held
