I just cut loss this morning also, i queued to buy 1500 lots of a call warrant around 8:10:58 am this morning by using my smartphone and then i was away until 10am sth.
Unfortunately, i dont know whether it was my smartphone's error or what, i queued 1500 lots for one time* only, but in the end i found that i got two 1500 lots orders matched in my order status where the time between the queuing of the two orders was only 1 s (the second order was queued at 8:10:59).
Same as the author of this article, it did not follow what i planned before queuing the order, my cut loss principle is to cut loss when i speculate once the price falls more than 10% from the price i bought. But i didnt cut loss this time when the price of the call warrant fell because the loss was 2x worse than what i expected in the worst case scenario.
I begun to hope for the rebound but it didnt happen like what i hoped, the stock continues to fall and the paper loss became 30% in the afternoon(12.30pm). While having my lunch, i was thinking that whether i should cut loss or continue to wait for a rebound. The 30% loss(4.5k) is quite a lot to me since i am just a student.
In the end, i managed to cut loss at 20% loss(3k). Lesson learnt, I should not and will not trade again by using my smartphone when i got no time to monitor my trade.
This refresh my memory on K1 & Frontkn. When it started sharp falls it suppose to immediate cut loss. For anyone didn't take quick action and hold till now, really big disaster!
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MQ Trader 3150 views | 3 d ago
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New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
kakashit
1,472 posts
Posted by kakashit > 2015-06-18 00:16 | Report Abuse
ta is only for smart alex