What would you do if your account was in this situation?

Discussion in 'Educational Resources' started by xif99, Mar 5, 2009.

  1. xif99


    you own 100 shares of SPY with an average cost of $100 (held over 1 year)

    You own 100 shares of DDM with an average cost of $28. (held under 1 year)

    You have $3k cash in your trading account.

    What would you do?

    Sell everything and start buying SSO with a small position and average down if it continues to drop?

    Otherwise you're looking at years before your SPY is back up to break even.?
  2. nysestocks

    nysestocks Guest

    Give my money to someone who knows what they are doing!
  3. Educate yourself on the market and how it works. There are many good courses available to teach you how to trade, or at least improve your returns.
  4. That's a start, although most of these courses won't land you very far from where you are now. But you obviously are at a great disadvantage considering that you're way underfunded. Trading with scared money is the fastest way to blow up your account. Whether you're trading stocks or commodities, you need at least $50,000 in your account to weather severe storms, especially if you lack the proper knowledge to know in advance when the storm will hit your own roof.

    Be that as it may, check out my tutorial for a possible pointer: Unholy Grail to Success.
  5. xif99


    My apologies for double posting this thread. I'm not sure what happened.