Re: longer buys
in response to
by
posted on
Mar 14, 2014 09:19AM
Yeah Derek don't feel terrible about it. I've done well trading this on the way up but got greedy and tried to flip it all in a day and got burned selling at .58 and rebuying all at .71. Now with that being said, I've made some good flips on the way up since then but I've not touched my core in my Margin or my bigger core in my TFSA since. My last flip was .93 to 1.22 and I haven't flipped since and therefore that cash is on the sidelines for now.
That being said if somehow, someway this does go to zero, I don't even want to imagine what this board and the outcome of a lot of you guys will be like. From what I've read over the months/years some people really don't know how to invest responsibly and taking "loans" and using line of credit to buy shares for a "sure thing" is ridiculous.
Invest only what you're willing and able to lose. Betting the house and all savings especially when you have a family is completely irresponsible and I just pray that we continue to go where we all think this is going because the opposite would be catastrophic. If this were to go to zero overnight, everyone should be able to wake up the next day and not change their style of life in anyway other than cursing a bunch for a week or so and having a few drinks at night during that week.