Is 20K shares a lot too you? I bought 3000 shares (which is A LOT to me) at 16.15 and sold everything today at 14.05. I felt so stupid, made so many newb mistakes. I've cut my losses before, but don't know why I didn't do it this time. I'm thinking of buying back after debt ceiling issue is resolved. I was planning to just hold my shares for the long term because I really believe in the AXON (I'm a former police officer and wish they had this tool back then) but my stomache couldn't handle another $3000 loss if it dropped another $1. Just curious, what are you going to do? Sell? Hold till earning report? Buy more at lower price? I feel like I'm in the same boat as you, lost money (not as much as you of course) and feeling extremely dumb. Thanks in advance!
Sentiment: Strong Buy
If you approach the market like a trader, not an investor, it puts you into direct competition with professionals, guys who do this for a living, who are skilled in psychological warfare and who have millions of dollars to throw around on each trade. When you sold for a loss, a professional put your money in his pocket and he will now make even more money when TASR swings back up, with the extra shares he added to his position (the ones you sold).
Don't watch daily stock movements. only traders should do that. buy shares in a company you have researched and have confidence in and stick with it unless fundamentals deteriorate. if you believe in tasr, think they have good management, like their products and think those products will lead to increased profits in the future, buy and decide to hold for a certain amount of time, say 1 year of 2 yrs.
yeah I know trading books tell you to set a stop loss at 8% and sell no matter what. This approach can work if you are a dedicated trader with an account worth at least 100k. But for small investors this approach is almost certain to lead to DISASTER.
The risk of loss from trading is far greater than from investing, especially with a small account. as you said you can't stomach day to day movements. so make your investment and walk away. maybe check back every five months. if you have a loss then, you can assess the situation, decide whether or not you want to sell or invest more and give it more time.
You can also do other things to decrease risk, like scale into your position (buying more shares at predetermined intervals instead of buying all at once) and setting sell points (sell X amt of shares at X percent of profit).
This will give you the best chance of making profits with the least amount of stress. Please don't try to trade. Trading is not glamorous, it is ruthless. Avoid the predatory world of professional short term traders. They eat small investors alive every day.
so let's say you keep holding that 20k shares and don't sell it when a few months from now TASR is trading over 20. what will you be then?
get my point?
intelligence has nothing to do with making money in the market.
having the discipline to do the opposite of what your emotions are telling you to do and what the herd of traders are telling you you SHOULD do at any given moment - that is the secret to making $$$.
I tell you what I would do if I was feeling stupid about holding TASR through the latest bloodbath: I'd buy more. And next time it spikes up huge and I'm feeling like I want to buy more, you know what I'd do? Sell 1/3 of my position.
great story. I was also an INSP holder. I got lucky and sold my INSP for a profit before things really got bad. Didn't help much though because I still lost a ton on other stocks at that time. One of my biggest losers was CMGI, which I rode all the way down. At the time of course people belived CMGI was a "safer" internet play, with their diversified portfolio of companies. What we all seem to have missed is those companies were all headed for bankruptcy. In retrospect one can see that the right thing to do was hold AMZN without ever selling a share, and going on to add a few thousand shares when it fell to 10 during the crash!
If you're a trader, you're stupid.
If you're an investor (and I think 20,000 shares makes you an investor), don't sweat it.
The best days are ahead of us.
Technology and the future of law enforcement are changing every day, and Taser is ahead of the competition in many services and products, and they are developing an award winning software team.
Let's see the quarterly earnings in 26 days.
Then you'll see things differently.