forge appoints administrators, page-79

guys,

I feel genuinely sorry for anyone who lost money on FGE, I have lost heaps on other stocks so I feel your pain, but I think it's time to go over a few lessons.

Everyone is talking about learning the lessons, but no-one is actually stating them.

Lesson one, Diversify,
Lesson two, Diversify,
Lesson three, Diversify,

there are plenty of sectors in the ASX to plonk your money on and there are plenty of stocks in each sector.

FGE was in mining services, so if you wanted to invest in the mining services sector, it should have been a small portion and a smaller portion of that should have gone to one stock.

Lesson four, set a stop loss,
lesson five set a stop loss,
lesson six, set a stop loss,


whatever you pay for a stock, if it falls 15% below your purchase price, walk away and don't look back. and never average down.

Lesson seven, take profit,

if you buy a stock and it rockets up, know when to get out. You'll probably see a stock rise after you have sold, but never concentrate on what you could have made, That's a big no-no, just be grateful for your profit.

Lesson eight, stop and smell the roses,

it's only money, and you have still enough time to make some more as long as you are willing to learn from your mistakes and don't go making them again.

Cheers and I'm genuinely sorry for your losses.