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Thanks Tommy, and yes it was indeed a harsh learning experience which I hope I've learnt from. Best of luck mate.
I feel you Steve. Like you I was sickened by the Sirius experience. It also taught me a valuable lesson NEVER take advice from investors chronicle again. That and monetise were among the advice I took. Fortunately I never invested in Woodford though ... phew
I was one of the poor unfortunates who was all in with Sirius Minerals. The end was particularly brutal. This is one of my first forays back in to the market after the trauma of a year ago. I hope this tentative investment will help in rebuilding my fortunes and sincerely wish all fellow investors good fortune, however they wish to play it.
Thanks for sharing Adamski. My story is similar in that I was trading for a number of years but doing poorly and backing the wrong “horses” (monetise and Sirius to name a couple) but all that changed when I took the advice from a number of posters here who I have grown to trust. At the start of august my portfolio was 60k ... now it’s 170k and I have taken out 60k foot the next years living expenses and have set up an is a in my wife’s name. I don’t say this to brag but to give hope and to pick who you listen to wisely.
Also one other thing that I have found useful is to operate two strategies ... one of trading short term swings and the other of trading long term trends. Personally I have cashed in my trading positions of this share (hence the 60k withdrawal) and am now enjoying the “free ride” of investing. I don’t always get the plays right, but I learn and adapt and I am excited for the days that lie ahead.
GLA and have an awesome weekend. Go Argonauts!
Great post Adamskiii. Thanks for sharing your story.
Having read the comments of those far more well read and intelligent than me, together with the regular and positive updates from Peter Wall, I am 100% convinced ARB will go from strength to strength. I do not want to miss the ride! Even if it means me I have to check the share price every 5 minutes. :( Does this compulsion ever wear off?!?!
All I can say is thank goodness I'm 'working' from home!!
After the post from Ian and in one of those chilled Friday moods I thought I’d share a very short and not particularly exciting story that might be of interest to those new to Arb or spiked. Particularly when you read about people paying off mortgages or cars being bought etc.
Cut a long story short and I moved my savings (10k) ISA at 0.001% into a stocks and shares ISA around Nov 19 and bought up with the likes of AO, M&C Saatchi, Wetherspoons etc. and did relatively averagely to be honest. Covid came and knackered it but I continued to move savings and my monthly payment into my shares ISA.
Dec 20 I bought 1000 shares with Argo at about 38p off the top of my head. Knew a bit about blockchain and had friends that had made good money from buying Bitcoin in the past. Jan I went and upped to 68p a share and a few thousand more. Kept buying and was over £1.02 when all hell broke loose in Jan with the SP, BTC and this board. Anyway got spooked, sold most and then watched as it dropped. I then watched it rise quickly after and bought more back... less than I had and now at a 78p average. I’ve now seen the rise to 3 times what I put in and the rise the more “normal” posters on here expected.
This week it dropped and I’m now in the fortunate position that unless it hits 50p I’m chilled. This helps because I’m earning decent money and learning markets but also because I feel I know where this company can go and the industry it is in, particularly in the world we live in.
I think what I’m trying to say to those reading is that not everyone here have ten bagged and have 07p averages but there are plenty like me who bought in, got caught, spooked and then bought back. If you feel Bitcoin has more to go then for me you’re in the right place. As hard as it is don’t look at the red, look at the RNS, fundamentals of the company and the excellent videos the Argo team put out.
I believe there’s £4 by the end of March and £10 by the year. I may be well out... either way! But for those that are in that position of looking at people making crazy money and are now down.. there’s plenty of us like that but we’ve come the other side and hopefully we’ll be bowing out with our cars/houses in a few years to come. Trust the research you’ve done and don’t worry! It’ll happen!
Looooong story! Sorry! Enjoy the weekend and here’s to Monday.