Hey Steve, I believe we're both young Brisbanites and thought I...

Hey Steve, I believe we're both young Brisbanites and thought I could offer some condolences in this tough time to someone you could relate to. My first foray into the penny market (after time in bluechips) was in A3D which I originally purchased at $1.10 for a $5k position - I added to this regularly and had a total of $15k at $2.80 average.

A3D hit a high of $5.30 and I was sitting on substantial gains. With an enormous lack of experience and too much naivety (as well as being taken for a ride by MGMT) I completely effed up the whole trade and ended up selling at a serious loss around $1.50 (albeit by far the best decision). I also broke the cardinal rule of advising friends and fam to join. I was gutted and it really took the wind out of me - but time goes on and I worked hard to regain a hold of my portfolio.

Now I am back at previous levels with not much to show for it financially (being back at even)....BUT I learned an absolute wealth of knowledge in the process - knowledge that guys take decades to learn and sometimes never quite get. We already have it mate, at the ripe age of 21/22. You will not make the same mistake twice.

If I can put it this way, these costly mistakes at our age are actually really beneficial as we are forced to learn the hard way. It might seem like a great deal of money at the moment but you'll look back in a couple years and laugh about it.

I've read your posts and you're obviously a competent and smart investor, we'll both do very well in our later years. Don't get caught up by this - also there is more to life than the market and you'll start to appreciate that more now as well.

One thing to note, when discussing stocks it is worth containing your excitement - no matter how good things look to you. Keep a cool head and when things do go wrong, it's all part of it.

Look after yourself mate, cheers.