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12 minutes ago, yoshiyoshi said:

I lost 25k in my investments due to the covid crash which was made worse by me not pulling my money out of my investments through the bank until mar 23 which worked out to be the worst day of the year to do it. I would have probably almost fully recovered by now just doing nothing. So the lack of control over my money made me want to start doing this, ive actually been interested in it for years but have been too scared. I hopped on the VTIQ train as soon as i got access to my money for direct investing but ended up dropping 5k in the next 2 days. Fortunately that came back up in price a week or so later and i also tried various other stocks but most of them were losses and ERI and the VTIQ recovery brought me back to even for a day. Then i was down 4k again and saw that the GNUS stock i looked at and said ha thats not going anywhere, had basically doubled in price the last week. So basically my goal was to recover my losses at first. Then i started getting hopes of striking it rich but yeah, I am not suited to taking such risks the past 2 weeks have shown me. Even when it was climbing like crazy i was still freaking out. Im gonna take some time away from this and try much smaller short term investments, as it seems i cant even handle a 2 week one.

I think that's a good idea for now. Risk should be limited to 1 or 2% of your account per trade. Using your account as a battering ram is a good way to lose it all. Take some time off and develop a solid plan. One suited to your personality, that you can stick to.

Edited by nuckin_futz
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3 minutes ago, NucksPatsFan said:

So you didn't start direct investing until roughly 6 weeks ago and you're asking if a 36k USD profit is okay, and that you have to force yourself to be happy with it? @yoshiyoshi

 

:wacko:

4 weeks ago. And sorry i wasnt really meaning that. I know 36k is &^@#ing awesome. The problem is with me. I should be happy about this but i feel like i lost 100k because of that sudden drop from 11 last week. This is totally a mental issue on my part. I generally dont see what i have only what i missed out on.

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9 minutes ago, yoshiyoshi said:

4 weeks ago. And sorry i wasnt really meaning that. I know 36k is &^@#ing awesome. The problem is with me. I should be happy about this but i feel like i lost 100k because of that sudden drop from 11 last week. This is totally a mental issue on my part. I generally dont see what i have only what i missed out on.

IMO there's something else going on here Yoshi that you should deal with. This behavior is reckless and potentially self injurious.

 

Next time you may not be so fortunate. Like I said, I have seen many people do what you're doing who wound up in the gutter. Get a handle on this now.

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2 hours ago, yoshiyoshi said:

yeah i put 34k USD which was everything i had. At the time i needed a 30 cent increase to recover all my losses from all the trades since i started. There was an offering the day before that dropped the price down by a dollar and the previous 3 offerings all hit new highs in the days after them. So i took a big risk and threw it all in. Didnt go anywhere the first day but the second day i was up by 50 cents so i had made my goal. Next day i almost doubled my money. Day 3 ended with me up 4x the orignal. Day 4 started with me up 5x and then crashed down like crazy. Since then ive just been looking at how much i could have had rather than what i did and every time i went to sell the pre market stomped the price and then i was like, it  will come back up so i held off. The past 2 days i was selling and then rebuying at lower prices to increase my shares to try to hold on longer but im so stressed out now i need to stop. I know what i did was stupid and could have gone really badly for me. I dont think i can take such a risk again even with me coming out ahead this time

 

 

Side note: I was doing this through RBC so its 10$ a transaction, so i cant do little ones without losing money just on the fee.

This doesn’t sound like healthy thing but more like obsessive compulsive behavior.

Definitely take a break from investing and schedule an appointment to talk to someone about it.

Best of luck.

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1 hour ago, yoshiyoshi said:

4 weeks ago. And sorry i wasnt really meaning that. I know 36k is &^@#ing awesome. The problem is with me. I should be happy about this but i feel like i lost 100k because of that sudden drop from 11 last week. This is totally a mental issue on my part. I generally dont see what i have only what i missed out on.

You’re the definition of fomo trader. 
 

As others said you are very fortunate this worked out this one time because 9.9 out of 10 FOMO traders go to 0. 
 

IF, and that’s a big if, you continue trading. Take your initial investment that netted you that 36k profit and like 20k of the profits and diversify it amongst long term stocks and blue chips so that the money is safe. You can have 16k of essentially free money to trade with and try not to put more than 10% in any one play at a time. 
 

Gotta be smart man. A lot of upcoming playoff runs you’ll need money to buy canucks tickets   

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2 hours ago, yoshiyoshi said:

4 weeks ago. And sorry i wasnt really meaning that. I know 36k is &^@#ing awesome. The problem is with me. I should be happy about this but i feel like i lost 100k because of that sudden drop from 11 last week. This is totally a mental issue on my part. I generally dont see what i have only what i missed out on.

As others have said. Definitely need to get out of this mindset as it will most likely cost you quite a bit down the line. While it will cost money you may want to sit down and speak with an advisor to set a long term plan (with the majority of your assets). It’s very tough but you have to try to take the emotion out of it. Your finances and mental health will thank you for it.

 

best of luck!!

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4 hours ago, yoshiyoshi said:

4 weeks ago. And sorry i wasnt really meaning that. I know 36k is &^@#ing awesome. The problem is with me. I should be happy about this but i feel like i lost 100k because of that sudden drop from 11 last week. This is totally a mental issue on my part. I generally dont see what i have only what i missed out on.

Don’t end up like me, I had to sell a kidney to break even.

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I put all my eggs in 1 basket with GNUS and its giving me a headache. That's only a $100 though hahaha. Couldn't imagine doing it with 35k :o

 

just deposited another $700 to buy others. Looking into IVR and MFA a lot lately 

 

anyone got some insight on Air Canada and Delta stocks? What's the odds of them going bankrupt from this? From what I'm reading Air Canada could very much go bankrupt

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6 hours ago, yoshiyoshi said:

4 weeks ago. And sorry i wasnt really meaning that. I know 36k is &^@#ing awesome. The problem is with me. I should be happy about this but i feel like i lost 100k because of that sudden drop from 11 last week. This is totally a mental issue on my part. I generally dont see what i have only what i missed out on.

I will tell you what I have learned.....

 

If I invested with hindsight I would be a trillionare, but that's not real.

 

So....I give myself predetermined entries and exists with the information I currently have. If those targets aren't achieved, that's life. I would also rather miss the first 10% and last 10% of a trade than get too greedy.

 

Take canopy for example. Bought at $9, sold at $58. Should have bought a $1 and sold at $74 but I didn't have that information at the time so why beat myself up.

 

I have also learned it isn't about your winners, it's about not losing big. That is why sometimes the boring stocks of the world (Utilities, Banks, and Pipelines) make you large sums of money over time but don't give you heart burn.

 

It's ok to swing for the fences....just watch the timing and % of your portfolio.

 

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2 hours ago, Brock Botanen said:

I put all my eggs in 1 basket with GNUS and its giving me a headache. That's only a $100 though hahaha. Couldn't imagine doing it with 35k :o

 

just deposited another $700 to buy others. Looking into IVR and MFA a lot lately 

 

anyone got some insight on Air Canada and Delta stocks? What's the odds of them going bankrupt from this? From what I'm reading Air Canada could very much go bankrupt

The government won't let their flagship airline go bankrupt. I'm heavy in AC at average price of $11 for the long term. Don't plan on selling it for 5+ years

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2 hours ago, Brock Botanen said:

I put all my eggs in 1 basket with GNUS and its giving me a headache. That's only a $100 though hahaha. Couldn't imagine doing it with 35k :o

 

just deposited another $700 to buy others. Looking into IVR and MFA a lot lately 

 

anyone got some insight on Air Canada and Delta stocks? What's the odds of them going bankrupt from this? From what I'm reading Air Canada could very much go bankrupt

 

No need to laugh at yourself, to some people $100 could be like $1000, or $10,000

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31 minutes ago, NucksPatsFan said:

The government won't let their flagship airline go bankrupt. I'm heavy in AC at average price of $11 for the long term. Don't plan on selling it for 5+ years

That's my thoughts too, but the articles about possible bankruptcy is scaring me away. Think they'll go back to $11 before they start recouping from COVID-19? I was thinking about buying a few shares today but tempted to wait for a drop to happen

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This market just makes me shake my head. How can you sell $1 Billion of something that is bankrupt, is still going to be bankrupt after they sell this? At what share price are they going to have to conduct this offering?

 

You think you've seen everything, then along comes that flying pig.

 

**********************

 

Hertz wins approval to sell shares from bankruptcy judge

Fri 12 Jun 2020 20:27:25 GMT

 

What a sordid saga

What a sordid saga
 
This Hertz fiasco is one of the most-sordid, depressing stories in market history. The company shares are worthless or close to it.
 
Yet somehow Robinhood traders were duped into pumping it.
 
The bond holders need to be made 100% whole before equity gets a sense. To give you a sesne of where that stands, the 2022 bonds are trading at 42-cents and that's about par for the course. There is a total of 5.5B in debt outstanding overall so at 42% recovery, that's something like a 2.3B shortfall.
 
That all needs to be paid out by liquidating whatever assets are left.
 
Somehow the equity is trading at $2.83 and the bondholders got the idea to sell $1 billion in shares, which was approximately 247m shares at the levels where they petitioned the judge. That compares to 142m currently outstanding in the entire float.
 
The bondholders have been honest with the judge. They told him "the common stock could ultimately be worthless."
 
But, hey, if we offer $1B in shares and someone wants to buy them, who is the judge to stop it? The judge just agreed in a decision shortly after the close.
 
Now I don't think they'll actually be able to float that much stock at reasonable levels but in this market, you never know. In any case, that money will go straight from the stock holders to the bond holders who no-doubt can't believe their good fortune.
 
The NYSE is already in the process of delisting HTZ.
 
On the one hand, this is hilarious. On the other, it says so many bad things about market functioning, the intellect of market participants and the overall madness of crowds; that it's frightening.
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2 hours ago, nuckin_futz said:

This market just makes me shake my head. How can you sell $1 Billion of something that is bankrupt, is still going to be bankrupt after they sell this? At what share price are they going to have to conduct this offering?

 

You think you've seen everything, then along comes that flying pig.

 

**********************

 

Hertz wins approval to sell shares from bankruptcy judge

Fri 12 Jun 2020 20:27:25 GMT

 

What a sordid saga

What a sordid saga
 
This Hertz fiasco is one of the most-sordid, depressing stories in market history. The company shares are worthless or close to it.
 
Yet somehow Robinhood traders were duped into pumping it.
 
The bond holders need to be made 100% whole before equity gets a sense. To give you a sesne of where that stands, the 2022 bonds are trading at 42-cents and that's about par for the course. There is a total of 5.5B in debt outstanding overall so at 42% recovery, that's something like a 2.3B shortfall.
 
That all needs to be paid out by liquidating whatever assets are left.
 
Somehow the equity is trading at $2.83 and the bondholders got the idea to sell $1 billion in shares, which was approximately 247m shares at the levels where they petitioned the judge. That compares to 142m currently outstanding in the entire float.
 
The bondholders have been honest with the judge. They told him "the common stock could ultimately be worthless."
 
But, hey, if we offer $1B in shares and someone wants to buy them, who is the judge to stop it? The judge just agreed in a decision shortly after the close.
 
Now I don't think they'll actually be able to float that much stock at reasonable levels but in this market, you never know. In any case, that money will go straight from the stock holders to the bond holders who no-doubt can't believe their good fortune.
 
The NYSE is already in the process of delisting HTZ.
 
On the one hand, this is hilarious. On the other, it says so many bad things about market functioning, the intellect of market participants and the overall madness of crowds; that it's frightening.

Remember that fake bre x minerals company? Tyco, Enron etc.

I mean even Nikola motors had MC of 31b the other day, zero sales.

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