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Old 05-12-2009, 12:07 PM   Nav to Top  #1
JonW
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Devil THE CONFESSIONAL !!

Okay people - I thought I'd start off a new thread and see if it catches on. The idea is to confess your stupid moments. The heart stoppingly, jaw droppingly crazy mistakes that will always be remembered by you even if they don't go down in history like AIG's share price.

The idea is to 'fess up to the fact that we're all human, or all fall foul of the system at some stage. Doesn't matter whether we are seasoned veterans or first time traders, we all f*£k up at least one time.



Hopefully we can all learn from the mistakes as well as having a laugh at someone elses expense for a change!!


Here's one from me to get the ball rolling:-

Picked up seven seperate envelopes that fell through my front door, from my broker's admin department, this last Saturday and was working through them. First out of the bag was a BUY and I promptly fell through a black hole when I saw I had bought Genterra for a total investment of just shy of $150,000 - now my trades are big but not generally that big!!!! I'm running through it in my head wondering if it was my mistake or my brokers. The words of 'slarty' were ringing in my brain - he was convinced a couple of weeks back that I'd bought CAG instead of CAN and even had me doubting myself. Frankly, I nearly had a freaking heart attack but knowing I had some good trades in the rest of the envelopes decided to at least see if I had got those right. I had, and (unbelievably in the seventh envelope) there was a correcting entry showing that they had got it wrong and showing the correct one, I 'knew' I had bought, for considerably less money than $150k.

Gotta say, I am a mild mannered guy but I did rip my broker a new a'hole on Monday morning - would it have been so difficult to put the damn things in the same envelope?!!! Wouldn't say I'm laughing now, but I can manage a weak smile!!!



Keep the confessions coming in - who knows, if it catches on maybe Miles will start a whole Confessional section in the Traders Lounge?!!

Most of all, have fun!!

JonW
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Old 05-12-2009, 12:28 PM   Nav to Top  #2
Cedar136
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Alright here goes HaHa
About 12 years ago I was buying uncovered calls and doing ok. I started with $2K and got it up to $11K in about two months. Then I listened to a coworker at work. He had heard about a great penny stock which was about to shoot right up.

HaHa yea you guessed it I bought a whole bunch, and WOW did my acct. get slammed! I had .23 left LOL

Well thats not the end of my stupidityHaha!

Two years age I thought OK I will leave it to the professionals.
I gave 10K to a commodities broker to make me money!!!

I wasn't paying attention, you know relying on his experienceLOL.
And before I knew it everything was gone.
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Old 05-12-2009, 12:40 PM   Nav to Top  #3
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Tried to catch the swine flu ride... bought NVAX at $2.98. Lesson learned.
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Old 05-12-2009, 12:45 PM   Nav to Top  #4
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I bought some shares in Northern Rock when they were around £2 and then bought more as they plummeted to about £1, thinking, banks never go bust!

LOL.
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Old 05-12-2009, 01:06 PM   Nav to Top  #5
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Sold XL at 4ish. Sold BAC at 4ish. Sold LVS at 4ish. XL shot up to 10. BAC almost hit 15. LVS went up to 8. Lesson learned.. Sell in portions (ride the free shares)
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Old 05-12-2009, 04:04 PM   Nav to Top  #6
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I started trading in February so I was still new into it when we bottomed out in March. I saw potential everywhere but didn't trust my gut because I knew I lacked the experience. Anyway, I bought PIR at .30, got freaked when it dropped below .20, was over a dollar within a couple of weeks and look where it's trading today.
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Old 05-12-2009, 05:11 PM   Nav to Top  #7
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Oilexco, need I say more! Prime example of getting emotional attached to a stock and not utilizing other strategies to offset the risk.
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Old 05-12-2009, 05:22 PM   Nav to Top  #8
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I fell in love with a crazy woman!
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Old 05-12-2009, 05:24 PM   Nav to Top  #9
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Hey Chuckd,

Now that's an emotional buy!!

XD

LOL
JonW
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Old 05-12-2009, 05:29 PM   Nav to Top  #10
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Its an expensive one as well. lol
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