To sell a parcel at break-even. You have lost time but not money. Unless your parcel is wildly mis-bought, this should happen reasonably quickly. One can simply automate the process, stick the parcel on the market at desired price and keep renewing the order until it goes off.
I have an FCC parcel at 56c and another at 88c, same $$ value and therefore the cheaper parcel is more shares. The 88c parcel is likely mis-bought. My overall position is (modestly) profitable so I can exit anytime if I think the game is up.
I intend to buy again in the mid-50's and ditch the 88c at break-even. If in the meantime Trent finds a fat Cobalt vein and the price takes off toward $5, I am covered. I can even buy more at a higher price and keep my average below market.
We all try to buy and sell like snipers. We don't always get it right - typically 60-40. I allow myself do-overs or best of three or five or even seven, and don't beat myself up about it. I am much more likely to nail inflection points this way. I grant myself more possibilities, more choices.
Further, the dude with the lowest cost parcel makes the most gain. The share price change is linear while the CG is exponential.
Good luck!
Ash
FCC Price at posting:
85.0¢ Sentiment: Hold Disclosure: Held
