Bad time but long term it’s not worth worrying about
Don’t know if you have been following this thread
That’s way better than me. I’ve gone from about 25% up to about 10% down. Couldn’t have been worse timing - partly as I was trying to wriggle out of a couple of mistakes, and partly as I put a huge cash injection in, pretty much the day before it started. Ah well…lucky I’m young I guess!
Nobody’s lost their shirt unless they cash out.
A stock market crash is just a massive opportunity to buy super cheap. It’s “buy low” not “sell low”!
This is true. I had a bunch of stop losses triggered, and then bought back in at what I thought were bargain prices. Then the real storm came!
Why did you have stop losses on? Are you investing short term?
Well they were meant to avoid moments like this, but they don’t work if there’s a double drop, unless you have a policy of not going back in for a decent period of time. I thought things were plateauing, but hey. I probably did save a few quid, and if I hadn’t gone back in, I’d be way better off, but I usually find things bounce back the next day, so I went back in. Had I put a stop loss on nVidia the second time, I’d have saved four figures.
Maybe in the short term but over 5 or 10 years would it make much difference? Trying to figure out stop losses and if there’s any point me using them. Most advice indicates if you leave them it works out better in the long term
Yeah me too. I have great examples both ways. I set one last year on Fever Tree, and they went down the same day, stopping out. The next day, they shot up 20% without me. That’s when they’re bad, but as I say, when things drop 30% at the open, you sometimes wish you’d put another on! Given the state of cryptos, I’m guessing that stockpile will take a while for nVidia to shift…
In other news, I went to bed having decided to sell Patisserie Valerie the following morning. Woke up to their suspension - that was about three months ago! I have a stop loss on them, but I’m guessing they’ll re-list below it…
Wouldn’t touch crypto with a barge pole
I’m focused more on ETFs so there isn’t that suspension problem, appears to take a lot of the risk out of it (but I need Tesla. It’s not a want at this stage, it’s calling me)
I’ve had two suspensions this year. Very unfortunate. I doubled my money on Defenx in a week, sold, bought 5x as many slightly cheaper…and then they collapsed. Now they’re back and there’s talk of a buyout at more than I paid, so I could be saved yet…