Hi I hope I have put this in the right place. I am a self taught trader operating on a basic trend method of trading, I struggle with the really technical stuff and find I function ok using basic trends and few other things to keep me in the right direction.
I have done ok with my methods and was just about to cash in most of my shares to pay off my mortgage, next week in fact, but due to the last few bad days I am now down and several thousand short to manage this which is really frustrating as it means I will continue to pay interest on my mortgage, money down the drain basically. Plus I was going to continue making my monthly payment that I used to pay to the mortgage to my share dealing account instead to build it back up but it feels like this has all gone to pot now.
Last time we had a big fall I took some damage and then sold most of what I had and waited to get back in, which I slowly did and built everything up quite reasonably.
So my question now which I suppose is everyones question but I am hoping there may be some guidance from here is what should I do now?
I know many say dont panic just ride it out, but then it takes ages to recover the damage done, it seems easy to fall, but hard to get up again always.
If I thought it was going to keep falling for a while now then I would sell I think to minimise damage as I did before, and come in to try and build up to what I need for my mortgage again.
Any advice what I should do with my shares right now and what is like ly to happen next guys, I am an amateur and cannot seem to figure out what I should expect next?
Any advice appreciated, I am in a dilemma.
I have done ok with my methods and was just about to cash in most of my shares to pay off my mortgage, next week in fact, but due to the last few bad days I am now down and several thousand short to manage this which is really frustrating as it means I will continue to pay interest on my mortgage, money down the drain basically. Plus I was going to continue making my monthly payment that I used to pay to the mortgage to my share dealing account instead to build it back up but it feels like this has all gone to pot now.
Last time we had a big fall I took some damage and then sold most of what I had and waited to get back in, which I slowly did and built everything up quite reasonably.
So my question now which I suppose is everyones question but I am hoping there may be some guidance from here is what should I do now?
I know many say dont panic just ride it out, but then it takes ages to recover the damage done, it seems easy to fall, but hard to get up again always.
If I thought it was going to keep falling for a while now then I would sell I think to minimise damage as I did before, and come in to try and build up to what I need for my mortgage again.
Any advice what I should do with my shares right now and what is like ly to happen next guys, I am an amateur and cannot seem to figure out what I should expect next?
Any advice appreciated, I am in a dilemma.
