Market Movers.28 Oct 2021 12:49
Hi all.
As you will see this is my first post on these forums. I have had my fingers burnt many times in the AIM, the most recent being HE1. Was sitting on a nice profit, thinking all was well when........whoosh!.......20 grand wiped out during the time I'd been out and walked the dog.
Obviously the AIM moves very fast quite often. My fault, didn't put a stop loss in.
Although that being said, stop losses don't always work as I have previously found out to my cost, thinking it would trigger at X pence when it sailed past X and finally triggered at Y pence - many thousands of pounds later!
I was recently hit by the Market Movers on this one. Having bought 316,000 shares at 2p and watching a nice rise I set the stop loss for 2.25p, leaving a little profit without getting burnt.
By the time I logged on yesterday morning the stop loss had been triggered, and I found it difficult to buy back in. This I did manage, however at 2.6 I managed to purchase 244,000 shares a loss of approximately 72,000 shares.
I am new to the sharp practices of the MMs. Having done some research it would appear that they aggressively target such as small investors with stop losses, driving down the the price to effectively steal their shares when their stop loss is triggered, before ramping up 10 - 15% and flogging them off, repeat, repeat, etc - would that be a fair assessment?
I was going to knock down the stop loss the day before, however I didn't think they would crash the price by such a high percentage and assumed it would still serve its purpose.
For what it is worth I only blame myself (not on here looking for sympathy) but would be appreciative any views on how this works.
Happy to be back in now, anyway. I would say any purchase in this share that is under 10p is a bargain.
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