First trade ever down over 15%

You really shouldn't be freaking out about 15%. 15% for that sort of share means ****. You're probably going to lose about 4% alone on the spread. If you had your reason for getting in and nothing's changed, getting out is retarded. A speculative share can move up multiples. Saying that, if the money means a lot to you don't dump it all in one share, especially something you're not that knowledgeable about.

In future, you would not let a stranger hold your wallet in the street. So don't trust people around here to give you the best advice. There's a lot of bad stuff floating around here.
 
Last edited:
Mao said:
Just to query why my posts agreeing with another poster who pointed out that stops were essential to any strategy, and who was attacked and told to shut his trap, were deleted.

Surely stops are very much on topic for a newbie....

And when accused of being a multi nick of the poster advocating stops, by Dashriprock, I pointed out some interesting similarities between some posters, including Dash, Paz, the old FX bandit and DToast....

Meanwhile, other threads are allowed to continue off topic in a farcical fashion.....
Click to expand...

:sleep: :sleep: :sleep: :sleep: :sleep: :sleep:
 
Mao said:
Just to query why my posts agreeing with another poster who pointed out that stops were essential to any strategy, and who was attacked and told to shut his trap, were deleted.

Surely stops are very much on topic for a newbie....

And when accused of being a multi nick of the poster advocating stops, by Dashriprock, I pointed out some interesting similarities between some posters, including Dash, Paz, the old FX bandit and DToast....

Meanwhile, other threads are allowed to continue off topic in a farcical fashion.....
Click to expand...

You probably wanna get that paranoia checked out :)

P.S. Not all strategies need a stop, at least not if the term is to have any meaning
 
Not sure what convinced you to take a long on this stock...if anything, check out the daily chart and the nice setup for a short swing trade: four lower highs along with a break of support today. Furthermore, the 20 EMA and SMA have crossed the 50 SMA and are about to cross the 50 EMA.

Daily chart attached.

CXZ_daily.jpg
 
incidentally, what was the name of that guy that was on teh cover of trader monthly a few years back? Timmayy something?

Anyway his strategu was pretty much shorting stocks like this; look for some small cap penny stock that has massively outperformed the market, then short it. his idea was that there were loads and loads of newsletters floating around promoting stocks like these (likeminers, pharmacuticals, tech stocks) that "apparently" are onto the cure for cancer or whatever... all bullsh!t knocked out by shoddy "research" firms paid for by the company themselves (with ulterior motives).

Anyway some people fall for it and so put a load in their 401k, but eventually the drug doesn't get passed a test phase or the reserves that its found are much smaller or of lower quality or whatever, and the stocks goes back down again.

happens all the time he said.
 
True, but to buy when everyone is selling is inviting losses in this style of trading, unless you're covering :)
 
Fair enough, Richard.

Dash: I figure if you're going to put your hard-earned money in a stock, you might make an effort to glance at the overall trend.
 
Why does my thread keep getting highjacked by 13 year olds.. If i'm not mistaken, I am the youngest person in this thread am I not!! Just give out your addresses and go fight each other already. 14 pages of internet threats won't get us anywhere people, discussing strategy might
 
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