UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: Humberticus Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 122  
Subject: Tired/confused newb in need of wisdom... Date: 6/23/2010 8:25 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
So I started trading back in may of 2009 and was really excited when I had a good year portfolio-wise. I only tested the water with 3000, so while I made an impressive amount percentage wise I am still no warren buffet. I sold in january and decided to try the waters again but decided to be a little more aggressive and got into chinese small caps. Boy do I ever regret it. One of the companies I invested in is being accused of fraud and is under attack by shorts and the other is just sliding down more and more every day, to the point where I think I might lose all of my 2009 gains. I like to consider myself a long, so part of me thinks I need to just stop looking at the numbers everyday and let the months go by, but another part of me is paranoid about one of these companies going under and my portfolio imploding while I am none the wiser. I spend a lot of time after work every day going over the yahoo message boards reading people telling you to SELL SELL SELL and others to BUY BUY BUY, some tell you that a company is a complete fraud and others will tell you to listen to them instead. I feel totally lost.

I currently have a very good job that pays well but in no way will allow me to buy a home within the decade by brute bank savings (I mean.. a money market account only gets me .85% thats ridiculous!), rather I want to put those savings to work agressively so in 5 years I can actually put down a substantial amount for a home.

I'm still confused as to what direction I should take. I think my 2009 gains were just pure luck as a result of the bull market and now I am getting my butt kicked. Every time I look at the big red number and how much I am under I totally feel like crap.

How do I deal with loss? I am sure if I wait in the magnitude of years I might recoup the losses, but I just can't help feeling really bad.
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Managing Your Wealth
Our own TMFHockeypop from Rule Your Retirement fame on the TV show Managing Your Wealth.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement