My investments on SLCapex are temporarily frozen, as I made a bad choice. To increase my potential benefits, I wanted to do a quick buy, and sell at a slightly higher price, but a large quantity of shares. The idea was to benefit from market fluctuation, but with a sufficient number of shares to make such a fluctuation interesting.
That's the theory. In practice, the price of the share in question is just falling down since I bought, so I can't sell now, and have to wait for the price to come up again ! Bloody beginner !
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4 comments:
I feel your pain....
It's much worse when you try to selloff 10% of a company and have to watch your balance go up and down by 20,000L$ swings at a time for days upon days.
Just give it time it will bounce back.
Yeah, that's evil! I was already shocked when I saw my value going down by L$300 lol. ;o)
Trading is still going good here though. Don't sell your shares with loss. One thing you could do to get your money back when a share is dropping is buy even cheaper and get break even by selling them together. For example.
BUY 100 x 0.50 = L$50
Share drops to .25
BUY 100 x 0.25 = L$25
SELL 200 x 0.40 = L$80 (-L$2something Fee)
It worked fine for me but it's a big risk and it has to go up eventually, only less. If the share goes down even more you're in a lot of trouble. ;o)
It sounds like you might be making another beginners mistake. You gotta know when to cut your losses. It is a hard lesson to learn and it is often learned the hardway.
I've been day trading actively in SLCapEx and WSE for just over a month now. I started off with about L$ 300 and am now up to around L$ 3500.
Almost all of my trades have been profitable, however, there have been about half a dozen trades that I cut my losses, got out of the stock and then made up my profits in other trades.
Don't be afraid to cut losses, especially in this down market.
For more information, be sure to stop by and check out the Games section of my blog. Most of my recent posts there have been Second Life Market Recaps.
Thank you all for your support and advise. It's funny to see how commenters can have so different opinions on what the next move should be.
Aldon, congrats for your 1'000% performance, that's sounds good and encouraging. Do you have any tips on day-trading for beginners ?
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