It is a serious question I am asking GT and everyone has their views on it... It is not that easy to answer in a standard form as every stock is different.... I had set a soft (in my mind) stop loss just under 12 but I wouldn't have had the guts to push the sell button... That's why I am asking for some advice as to how to set them up so that if you are feeling weak it takes it out of your hands and you don't end up like a deer in the headlights...
Just went through that with NXR ... ANd it is painful.. I still believe in it fully and think it will fly but now I am sitting on a 50% loss because I couldn't press sell..
Watching the price where it is is upsetting because if I had of sold I could have then purchased double my holdings...lifted the shareprice...added some volume back and would've been a lot happier than I am now sitting on a loss..... Nxr also has something absolutely amazing but it was played with and now us long termers are in the red...
It can happen to any stock..no matter the potential because when it is sold down in a dump then you can't get out..no matter how good the stock is.. Nxr will rise again..in the next few weeks...but I could be holding double the amount if I had a working stop loss in place... I was in shock when it dropped and froze... I thought it would bounce right back up.... 16 to 4.5 in a few weeks with a few hopeful this is going back up moments only to see a major dump in the end... All in 10 minutes...
Hence my question for future knowledge... Pok was lucky and didn't get that much of a dump but still went 22 to 12 very quickly as well...so you could say also nearly a 50% drop...
Anyway. Hope to get some sort of strategy in my head and in place to avoid the upset in the future...
Let's hope we can stay above 20 this time and push towards the 30 mark as our next support...
Now that would be nice...
Good day today..
POK Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held