My H considered buying FB stock when it initially came out but had some issues and didn't think it went through. Months later, after making fun of all the shmucks who bought it, we realized that his transaction had gone through and we were down 50+%.
Ugh.
Today, approximately 777 million shares from employees are able to be sold. The last time this opened up, the stock plummeted another 7%. So this morning I begged and pleaded that he sell this morning.
He did.
Of course, when I checked it was up 10% already today. I totally suck at this day trader crap.
Our first rule of stock buying is not to check on prices for at least a couple of days after we buy or sell. It generally feels less stressful to us that way.
I think everyone who has really invested in the stock market has had some losses. I know we've had several drop by more than 50% that we've bought in the past 5 years, so don't be too hard on yourself.
I don't understand how you didn't know you owned a stock for a few months.
Also yes, panic selling during a decline is often a bad idea. If you aren't experienced stock investors, it's probably best to follow Lys' advice and stay from individual stocks.
You lost me when you stated that you didn't know the transaction had gone through until after a few months. umm what?!!
He has an account with his "fun" stock money in it where he buys and sells. He doesn't check it often since it isn't one of our retirement accounts or normal investment accounts.
We do have mutual funds which is where the majority of our money is, this was just a couple thousand dollar account where he trades and kind of learns about the market.
If it were up to him we wouldn't have sold today, I just freaked out and obviously screwed up. Oh well. Live and learn.
Panic trading is the reason why 95% of day traders fail haha.
I would have just left it alone since there's only a couple grand in there. Worst case scenario, but unlikely, stock goes to zero and you lose another $1,000.