i have lost abput 30k (on paper) from my portfolio since 2008, i can still make it up if my stocks go up, but one thing i have learnt during the last few yrs is to USE STOP LOSSES!!!!
I know everyone here knows this, so did i but i didnt practise it, if i bought GBG at say 80c thinking it was cheap, i would have put a STOP LOSS at 60c, meaning if it hit 60c my stock would be automatically sold.
another stock i bought, AVB at 13c, should have put a STOP LOSS at 10c, its 7c now. i lost big time.
That way, yes you lose a bit, but you dont lose in a devestating was as long term holder here have, waiting and waiting for things to improve, the only people that make money out of mining shares are 1.) the people that have founded the company and get free shares etc...
2.) directors who still get their $500,000/yr + bonuses even if the stock goes down 90%
shareholders like us never win, unless we are very lucky and the stock goes up and we have the brains to sell for a descent % gain.
STOP LOSSES people, use them, i know i will if i ever buy spec mining stocks again.
GBG Price at posting:
30.5¢ Sentiment: None Disclosure: Not Held
