2006-12-29 15:07:38 · 8 answers · asked by finander 1 in Business & Finance ➔ Investing
I lost about $20,000 in February on a biotech stock. I sold the biotech, and bought some new stocks and was able to make back most of my losses. If you take a loss, the best thing you can do is analyze what you did wrong. Why did you think the stock was a good investment? were you misled? Learn from your mistakes. What I learned was, it is hard for the small individual investor to invest is risky biotech stocks. Click the link to read why:
http://www.top10traders.com/ViewPost.aspx?postID=101
This link is from http://www.top10traders.com - this is a free site that lets you create a portfolio of stocks with $100,000 in "play" money. Each day the site ranks the best performing portfolios, so you can see how your picks perform compared to other investors.
Hope this helps.
2006-12-30 08:07:59 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Depends on what % of my total I have to invest that the $7K represented. If it was within my money management plan, then I have no problem continuing to invest.
Now if it was a bad plan I was following, and I lost a bunch of money, I'd have to pause and reevaluate. But overall, as long as the losses are within the plan, I should keep continuing on as in the long run, I'll make much more than $7000.
Hope that helps!
2006-12-29 15:56:43 · answer #2 · answered by Yada Yada Yada 7 · 0⤊ 0⤋
Sure, of course. But I might reconsider the strategy. It's stupid to NOT invest, but it's equally stupid not to learn from your mistakes.
If you talk to any of the top investors who have become billionaires by investing intelligently, they'd tell you that $7000 is a small price to pay to learn, but it's a high price if you're not learning anything from your losses.
2006-12-29 16:12:21 · answer #3 · answered by Anonymous · 0⤊ 0⤋
If I was currently investing I would have a stop loss to prevent me from losing that much money to begin with. But a huge drop one day is a buy the next.
2006-12-29 15:19:04 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Depends - what percentage of my total net worth does $7000 represent? 1%? 50%? 100%?
2006-12-29 15:57:01 · answer #5 · answered by Momma 3 · 1⤊ 0⤋
THere are various investing techinqes and options available to you. you can make use of those options. There are traditional and modern options to invest risky and safe. There are new investments options like commodity futures are taking the world by storm. Be part of it .. Choose your option now.
2016-03-29 00:27:04 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Absolutely yes as long as you understand your lesson. Most traders start from losses.
2006-12-29 18:37:44 · answer #7 · answered by efpol2000 2 · 1⤊ 0⤋
No. Never. No.
2006-12-29 15:10:43 · answer #8 · answered by Anonymous · 0⤊ 0⤋