RE: Tree shake22 Jul 2024 23:11
Jazz I have never put a stop loss on any stock , that is probably why I lose a fair bit. On this particular stock, I actually traded up as I believed in the outcome.
One time I had 22k invested at average 22.6. The stock went to 44.5 and I swore when it doubled I would take my stake. Well it was a penny shy then it started the descent.
But , greedy me thought it had hit the forties once , it was just a case of sit it out and wait for the rebound. It never rebounded.
So for me having been nearly there , subconsciously I had been burned , but at anything over 22p I actually hadn't been.
So I added and things got worse still.
I am now recovered a bit , I took another 2k's worth last week , but at circa 18k down a stop loss is worth nothing. I want to break even at minimum.
I don sell at a loss with many stocks on gut feel , never at -10% , or even 20% , that's normal for high risk shares.
That's my take.