I seriously think people that say stuff like this just have no idea. Sure some people have an agenda but most holders on HC are so entrenched in their view of a stock that anyone commenting differently is nefarious, or trying to buy lower, or a paid shorter or whatever the story is that day.
I have been guilty on occasions of getting agitated by people that had completely different views to me but guess what, there were times they were right and I was wrong. There were also times it would have saved me money.
Originally posted by CS96
Hey Steve, I believe we're both young Brisbanites and thought I could offer some condolences in this tough time to someone you could relate to. My first foray into the penny market (after time in bluechips) was in A3D which I originally purchased at $1.10 for a $5k position - I added to this regularly and had a total of $15k at $2.80 average.
A3D hit a high of $5.30 and I was sitting on substantial gains. With an enormous lack of experience and too much naivety (as well as being taken for a ride by MGMT) I completely effed up the whole trade and ended up selling at a serious loss around $1.50 (albeit by far the best decision). I also broke the cardinal rule of advising friends and fam to join. I was gutted and it really took the wind out of me - but time goes on and I worked hard to regain a hold of my portfolio.
Now I am back at previous levels with not much to show for it financially (being back at even)....BUT I learned an absolute wealth of knowledge in the process - knowledge that guys take decades to learn and sometimes never quite get. We already have it mate, at the ripe age of 21/22. You will not make the same mistake twice.
If I can put it this way, these costly mistakes at our age are actually really beneficial as we are forced to learn the hard way. It might seem like a great deal of money at the moment but you'll look back in a couple years and laugh about it.
I've read your posts and you're obviously a competent and smart investor, we'll both do very well in our later years. Don't get caught up by this - also there is more to life than the market and you'll start to appreciate that more now as well.
One thing to note, when discussing stocks it is worth containing your excitement - no matter how good things look to you. Keep a cool head and when things do go wrong, it's all part of it.
Look after yourself mate, cheers.
On this topic this is a great post. And very self aware for someone so young. I wish I had started in the markets earlier at 20-22. CS96 and I have had a chat on another stock that we both hold and I tried to give him my transparent views on that as well with no bullshit. It's not really my style.
Steve will learn and be better for his losses if he takes on board other views. You don't have to believe others but if you at least go and research what they say and prove to yourself that they are full of sheet or not you will save a lot of money.
We all make a heap of mistakes at the start...actually not just the start, it's ongoing. Was some great discussion on the STT thread over the weekend about how people should treat investing like a job. About how most professional jobs require years of education just to start and then you have to work your way up and development is ongoing.
If you are going to jump at shadows every time someone disagrees with you what is the point of using a forum? An echo chamber of positivity helps no-one. It's all about collection of information for personal analysis in my opinion. The end decision will always be your own but it seriously helps if you can increase the amount of data you have to work with and be objective.
