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What was your worst mistake in trading.
Wallyak
#21 Posted : Wednesday, July 09, 2008 4:09:00 PM
Rank: Member


Joined: 6/6/2008
Posts: 9
The rule is simple. Just never sell at a loss. Whatever the case you only undergo a loss when you sell at a loss. So whatever it takes just follow the rule and after all you will not regret it.
Bottlenecks
#22 Posted : Wednesday, July 09, 2008 9:02:00 PM
Rank: Member


Joined: 6/25/2007
Posts: 6
Location: Middle East
My worst was having bought heavily into Uchumi hoping to offload just before the KenGen IPO.........you can imagine my shock when it went under.I only forgave myself after getting 90% financing to do KenGen,now that one was a killer,made good cash,to wipe th Uchumi tears.

About 5yrs ago i was in Suntra being advisd to put in my 150k into Athi river mining @14bob,i didnt!

Hezz,i couldnt help myself smiling how could you be told ICT has no potential in Kenya??? I thought you were in IT yourself......


Is Greed good?
ZZE123
#23 Posted : Thursday, July 10, 2008 7:21:00 AM
Rank: Elder


Joined: 6/21/2008
Posts: 2,490
Bought 4,000 mumias shares during the IPO... even after the bonus issue I am still yet to recover.. I have kept the shares for my children (if i will ever get some!!)

Forgive your enemies but never forget their names…
The man who marries a beautiful woman, and the farmer who grows corn by the roadside have the same problem
miser
#24 Posted : Tuesday, July 29, 2008 12:00:00 PM
Rank: Member


Joined: 7/7/2008
Posts: 124
For the buyer of NMG yesterday:buddy I warned you! But you either did not read my comments(see below) or you ignored me! And to you all,read these comments in this thread-all of them-coz you might emerge the wiser!Am still watching the green monkey in the financial sector!And can the buyer of NMG stand up and resurrect this thread!!!
Wendz
#25 Posted : Tuesday, July 29, 2008 1:54:00 PM
Rank: Elder


Joined: 6/19/2008
Posts: 4,268
Nggggaaaaaiiiiii!!! it wasnt me!!! NMG was a red monkey wearing a black hat!!!! Na uongeze miwani pia!!!!!!!!!!!!! How could the buyer miss it!!

Some deals are like glass. Sometimes it's better to leave them broken than try to hurt yourself putting it back together.
sumuni
#26 Posted : Tuesday, July 29, 2008 5:07:00 PM
Rank: Member


Joined: 6/24/2007
Posts: 111
Location: Afrique
selling my AK IPO allocation of 26k shares @ 14.65 in june last year. just the thought of the forgone gains drives me up the wall.

@ miser & wallyak,

ati NEVER SELL @ A LOSS???? That's hands down,the most unwise investment decision i've eva heard anyone give on SK. guys,dont chase your losses. always have a stop loss level for any stock-could be 10-20% below the buy price based on your risk appetite.accept it was a substantial error in judgement and action,learnt from it and MOVE ON! don't let pride get in the way of your stock decisions.

but let your winners run....indefinitely



He that resteth upon gains certain,shall hardly grow to great riches; and he that puts all upon adventures,doth oftentimes break and come to poverty: it is good therefore to guard adventures with certainities that may uphold losses.- Sir Francis Bacon
It is a curious fact that of all the illusions that beset mankind, none is quite as curious as that tendency to suppose that we are mentally and morally superior to those who differ from us in opinion.
Pablo
#27 Posted : Wednesday, July 30, 2008 6:08:00 AM
Rank: Member


Joined: 3/17/2008
Posts: 567
Location: Nairobi
Bought 10,000 EA Cables pre split @25/- in 2004. Extied at 75/-. Share went on to hit 300+ before the 10 to 1 split.

Bought 8,000 EB @ 80/- pre bonus (2 for 1 bonus) in 2006 sold them @ 220/- pre bonus. The shares went on to multiply by 3 and now each is at 300/-. Had I kept would be having an extra 7.2M right here.



The winner bought 8,000 KPLC shares


Be fearful when everyone is greedy,be greedy when evereone is fearful
Pablo
#28 Posted : Wednesday, July 30, 2008 6:14:00 AM
Rank: Member


Joined: 3/17/2008
Posts: 567
Location: Nairobi
Bought 10,000 EA Cables pre split @25/- in 2004. Extied at 75/-. Share went on to hit 300+ before the 10 to 1 split.

Bought 8,000 EB @ 80/- pre bonus (2 for 1 bonus) in 2006 sold them @ 220/- pre bonus. The shares went on to multiply by 3 and now each is at 300/-. Had I kept would be having an extra 7.2M right here.

The winner - In my early days with shares,bought 8,000 KPLC shares @ 45/- around 2000 the damn things went down to 20/- then to 10/- then to 7/-. Panicked and sold @ 7/-. Luckily at about the same time NBK was 3/- so I said since am out i have nothing to lose.

KPLC later went on to 150/- in a year. NBK made me some cash but lost like 180,000/- in 2001 !!


Be fearful when everyone is greedy,be greedy when evereone is fearful
Cally
#29 Posted : Wednesday, July 30, 2008 7:44:00 AM
Rank: Member


Joined: 6/11/2007
Posts: 2
@ sumuni,

I fully agree with you.... You must have a stop-loss position as well...


akowally
#30 Posted : Friday, September 18, 2009 6:46:00 AM
Rank: Veteran


Joined: 5/20/2008
Posts: 1,126
Location: Nairobi
Mine seems to be this safaricom share. Kwani when will it fika the 12 bob I was waiting for.

Romans 8:28 (New International Version)
More Than Conquerors
And we know that in all things God works for the good of those who love him,who have been called according to his purpose.
JOIN MY FREE MINI-COURSE FOR WRITERS. CLICK HERE
Sasha
#31 Posted : Friday, September 18, 2009 7:04:00 AM
Rank: Veteran


Joined: 9/5/2007
Posts: 627
This thread has brought a tear to my eye!

RIP Hezz!


Immorality: The morality of those who are having a better time!
skodhe
#32 Posted : Friday, September 18, 2009 7:43:00 AM
Rank: Member


Joined: 2/3/2009
Posts: 112
I was told to sell KQ @120 but refused. I am now regretting. I bought KQ @9 in 2003


Sleeping like a little baby
akowally
#33 Posted : Friday, September 18, 2009 7:56:00 AM
Rank: Veteran


Joined: 5/20/2008
Posts: 1,126
Location: Nairobi
Pole Sasha... yani ... I have actually been wondering where Hezz has gone to ... What happened?

Romans 8:28 (New International Version)
More Than Conquerors
And we know that in all things God works for the good of those who love him,who have been called according to his purpose.
JOIN MY FREE MINI-COURSE FOR WRITERS. CLICK HERE
DeKing
#34 Posted : Friday, September 18, 2009 7:59:00 AM
Rank: Member


Joined: 5/27/2009
Posts: 13
Sasha,

Did I miss something? Sorry but what happened to Hezz?


'After God's own Heart'
mtaalam
#35 Posted : Friday, September 18, 2009 8:25:00 AM
Rank: Member


Joined: 11/2/2006
Posts: 519
Let me try and top this.
I took a loan of 1m for safaricom shares. I managed to get about 80% 160,000 shares (don't know how) and was over the moon! Come trading day I instructed my broker to sell at not less than 15/-. I bought an extra 20,000 at 8.50/- on the first/second week of trading with the refund.
Now the worst part is I convinced my better half to do the same and she did...

So you can now imagine how excited I get everytime the damn thing moves 5cts. up

Bright and interesting people talk about ideas. Those of average intelligence talk about things. Stupid people talk about other people.
McReggae
#36 Posted : Friday, September 18, 2009 8:43:00 AM
Rank: Elder


Joined: 6/17/2008
Posts: 23,365
Location: Nairobi
mtaalam....woiyee!!!

The chief value of money lies in the fact that one lives in a world in which it is overestimated.
..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
Wendz
#37 Posted : Friday, September 18, 2009 8:44:00 AM
Rank: Elder


Joined: 6/19/2008
Posts: 4,268

@Sasha,

Haiya,what happened to @Hezz?


@mtaalamu
That was hilarious.... its sad but made a good laugh... Am stuck with Equity from the 300s!

Experience is what you get when you don't get what you want.

Sasha
#38 Posted : Friday, September 18, 2009 8:59:00 AM
Rank: Veteran


Joined: 9/5/2007
Posts: 627
@Wendz, akowally & DeKing

Hezz was involved in a bad accident while in Singapore where he'd been working early this year. Didn't make it to the hospital.


Immorality: The morality of those who are having a better time!
McReggae
#39 Posted : Friday, September 18, 2009 9:05:00 AM
Rank: Elder


Joined: 6/17/2008
Posts: 23,365
Location: Nairobi
Sasha,pole sana,were you two related?

May God rest her soul in eternal peace!!!


The chief value of money lies in the fact that one lives in a world in which it is overestimated.
..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
Wendz
#40 Posted : Friday, September 18, 2009 9:06:00 AM
Rank: Elder


Joined: 6/19/2008
Posts: 4,268
Thats so sad. pole sana. makes us realise how vulnerable we are when going about our daily businesses.

Experience is what you get when you don't get what you want.

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