stories from the dotcom bust..., page-2

hi

traded alot - exactly as i do now , with one difference

i use a stop loss on every trade.

I traded davnet , hih , one tel , and numerous others which just dont exist now.without a stop loss instead of losing a bit you lose everything.

A classic story was www.bigshop.com they floated the share price went up and the directors got a million bucks for get this -the idea - omg it wsnt even original idea.The website was under construction for a year or so then the company went into liquidation.They didnt trade at all and all investor money was gone. No asic investigation no asx queries nothing. Everyone lost their money.

Another one was b digital. kerry Stokes mobile company.Shares floated at $1 each.Everyone expected them to go up bigtime seeing stokes was the major shareholder.Day one they ended down a few %.Day 2 down another 10% day three down 25% or so.After a week they were about 50c.Never to recover.I wish i used a stop loss on that trade. I have never been in a float since.