i`m really getting desperate with my stock portfolio, which mainly consists of bad decissions i made following some other discord group at the beginning of this year. Most stocks were mainly bought in february / march this year…so at the peak and i completely messed up my entry in the stock market. Since then its getting worse every month and i would really appreciate some help on this this how to get out of these position.
I´m unsure if i should DCA on some of them or just hodl / sell for loss and restructure it completely.
My initial investment is around 8-10 K, could propably put some more money throughout the next months in it ( 3-5 K ), but then i am out of cash (at least for stocks ).
So if someone has some good advice for me and can do a valuation which of the stocks has some potential short to midterm and i should hold or DCA and which one i better sell for a loss i would be very very grateful.
Here is my portfolio and my initial entries:
NIO@59$ / -28 %
PSFE@16,16$ - 53%
Thanks in advance
I don’t know a lot about those tickers other than NIO and PLTR. I would start to trim down your positions if they continue to go more and more red. Look for times that these stocks do pop and reduce or get out. You need to set a limit of like 5% to 10% stop loss so that it sells if you hit that point so you don’t hold through -50% losses. Setting personal stop losses and ones in your broker will save you a ton. I become much more profitable when I started selling when I saw red. It also depends on your trading style. Are you a scalper. Do you do short term trading liek swing trade, or are you only looking for long term trades. Also go through our education section. Don’t put more money in if you are going negative, that will not solve the problem. Change your style, study, and try to use the money in there to turn it around. Also, if you have a lot of debt etc, maybe take a break and focus on paying that off before trading like this.
One thing I might suggest if you are holding over 100 shares of each stock would be to look into covered calls and the wheel if any of the tickers might be good candidates.
NIO, PLTR, PSFE have the potential to recover, but it could be a long hold. No idea either way regarding the others.
How many shares do you have for each stock?
thanks for the comments so far on my request, really appreciate your help on this.
I have the following amount:
NIO - 47
NNDM - 120
NUMI - 1000
PLTR - 100
PSFE - 125
BLPH - 800
PLTR is the one i have most confident in. Was before earnings on wedsesday at 27 $, so i`m quite sure it will get back into these ranges and my average is ok.
PSFE earnings and the resulting -45 % yesterday was quite brutal.
My entry price of 16 $ is horrible to the actual value of 4,25 $, so m -72 % on this stock.
When putting another 1000 $ in PSFE i could lower my average quite drastically to 8,33 $…but it is worth / is the company worth to put more money in ?
Same with NIO, also a reliable company and time will propably get me back in the green, so i can hold this one.
Have absolut no clue what to do with BLPH, NNDM and NUMI…
Hi, I got into trading 1 year ago so not as knowledgeable as others. My portfolio looked very similar too as I had horrible enteries and bought shit companies during pump and dumps. I am slowly starting to sell the ones that I have no hope of coming back. If one day I see a 10 percent jump I cut it. For companies like gme and bb I have started to sell covered calls. I do have numi too lol. It does get random pops but I am still down over 50 percent and will be selling it too. I do not want to put more money in them to average down and run the risk of losing more money. I could use that money towards better plays/companies. I know how you feel but believe me once you sell it, its like it never happened haha. I felt liberated. Good luck!
One thing that either Conq or JB said that has stuck in the back of my mind is that when looking at chart time frames, that is how you should gauge your play for the stock.
i.e. if you are looking at just the daily chart, then you should only be playing very short term. If you are looking at a yearly chart then you are likely playing for a much longer time.
Too many people look at only short term charts and end up holding too long and get caught in a down-trend for the stock because they never looked at it from a monthly or yearly scale.
Today it looks as if i might get out of BLPH sooner then expected. It raised in 3 days from 3.10 $ to now 4 $ in AH, so another 7 % upwards and i would be at my average of 4,25 $. If it should reach / get higher then the 4,25 $ in the next days comes the question…get out immediately or use the upward trend a little bit longer and put a stop loss @4,25 $ and may be take some profits.
Right now im unsure about the reason for the +30 % in the last days. BLPH had their earning report, but for me it doesnt sound as good as to justify the uptrend. What do you guys think of it ? Thx for help
In general if you don’t know why you are in a trade then it’s best to get out, and put your money somewhere else where you have more confidence and research, the trend can last 2h or 2 weeks.
As someone who started trading within the last two years I have also made some mistakes with holding too long and honestly not knowing what I was doing. I treat my loses as education. I got sucked into FOMO in the past and screwed myself.
I’ve been in this community for over a month and it’s been a blessing. Not so much in the gains but in the education and overall sentiment of everyone. Looking forward to what I can learn from our members and apply to my investment strategies.
If you buy something you don’t understand you’re not investing. You’re gambling at worst, and speculating at best.
When investing, measure success and risk by the market, not profitability. You aren’t risking losing money, you’re risking not beating the market.