I got depressed after HBAN went way down a couple of months ago. Should have take profits when I did, but NOOOO, I had to wait and then it went down.
I kept waitng and waiting and waiting and waiting for a pop and then it never happened. Whisle the rest of the market was taking off like a Jet plane I was stuck in HBAN.
So I sold.....at 3.72.
Now I know. First, take profits no matter how slim and 2, patience is a virtue.
Good luck folks. I still have a small holding but took a huge hit.
Lesson learned. I'm still a newbe in many respects.
PATIENCE MAN! I guess you didn't read my 2 past messages. YOU NEED TO BE PATIENT with this stock bought 5k shares at $2.75 and later bought 9.5k shares at $3.35. Made $20k+ in 2 months. This stock will gradually go up to probably $7-$8 by the end of the year but you have to be PATIENT
what lala said..patience..bought 15k hban for 1.20 went to 6 ..i dumb greedy azz didnt sell went back to 3 plus sold 10k..now going back up ''lesson? patience..its the only tool u have against the big boyz..lerned lesson fast so been buying 3.10, 188.8.131.52 4.05 ever since ..another one ,bought 5/3 at a 1.plus sold at like 2 plus bought a 3 and sold at 4 right before the 2$ day when it ran to 6...was sitting on the sideline yellin at myself..still have some but man missed the big boat..patience patience patience and the company obviously has to have some potential..REMEMBER..ALL the banks were down ..this was/is a once in a lifetime(hopefully) situation..u have to be long (more than 6mo ) now.peace
I remember starting out and thinking upgrades were automatic to make a stock price go higher. I bought on the open only to learn that everyone one was selling on the news! Not only did I buy at the intraday high, but I panicked and sold my position losing about $2,200 in five minutes. I was in college at the time and was so pissed, stunned, and freaked out, I swear I lost my hearing for about five minutes.
Lesson learned: Life's a bitch. But you can make a comeback if you can learn from your own mistakes...
Yes, the "school of hard knocks" is a teacher for sure. There is a fine line though between learning the hard way and getting so beaten up that you don't venture out anymore though LOL. One has to be careful of getting crippling memes built up in their minds.
Don't feel bad, bro. I bought a position of 7500 (basis just over 4 bucks), and SOLD it all @ 4.18 thinking I made a nice trade. THen, it busted up through 4.50 right after that !
;-) Such is life !! But, ya gotta roll up those sleeves and...KEEP PLUGGIN' !
Couldn't do. This was my retirement account. They only allow straight buys and sells with lots of restrictions.
I was actually in a "stable value fund" with my 401k because I was worried about losing money and then I finally broke down and listened to the "you have to diversify" crowd in 07 and took a huge hit in early 2008. Then they opened up a Schwab trading alternative in September of 08 and I went into gold because I thought that was 'safest'. Well the margin calls of the crash took that out and I panicked and sold and went into a short fund and then lost a chunk in that because the market started to bounce back in Jan and then went long on various stocks and got crashed out in March.
Needless to say I've been a lamb to the slaughter. That all said, with this HBAN thing. I sort of got a "dammit" wake up call. I'm trading small, lean, various, and taking profits as they come. Some small and probably missing out on some larger moves, but conservation of capital (knocking on wood with my head to drive it in) is my focus right now. I've been doing much better. Small pitiful gains but gains none-the-less.
My only concern is the "next leg down" I keep reading about that will make March look like a bull rally. I've been using the tactic of free shares, ie, selling to regain capital and keeping the rest as shares to lock in gains, but if this leg down should happen I could be in for another hit of sorts.
Damm, this gets so confusing sometimes...especially when your account is so restricted as mine is. I just wanns get back on track and not end up eating dog food and rice when I get older.
I'll stop whining now lol.