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When it's too late
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07-19-08, 10:31 PM
aquaswim47
STTG Veteran In The Making
Join Date: Feb 2007
Posts: 392
This is such a fantastic topic. I got into this mess in my first year of trading and I just unwound the trade. I lost about $370 in this stock on a $599 investment. The stock was JCPenney. It is 77% of my total loss. I kept buying on the way down and it just blew up on me. It was obviously a trade that I got into too late!!!!
I did okay with all my other trades; that's not to say I didn't lose money. I also lost some money on CME, but not nearly so much! But I've learned a good lesson. I surely am going to have stocks that have heavy losses in the future. After GME and JNPR, I am very scared of stop orders. These had stop orders at 12% loss and then it rebounded quickly afterwards. These were, I think, my second or third trades; my very first trade was CBH or Commerce Bancorp. I'm not exactly sure of the order as those were my first three trades.
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