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What was your worst mistake in trading.
Rank: Veteran Joined: 5/20/2008 Posts: 1,126 Location: Nairobi
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I know that we all learn from mistakes. Some of you might be very good but definitely there is that one mistake that you shouldn't have made??? popolo JOIN MY FREE MINI-COURSE FOR WRITERS. CLICK HERE
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Rank: Member Joined: 6/6/2008 Posts: 9
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I was desperate and sold some shares at a loss and got a 2% loss. Best advice is never sell any share at a loss.
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Rank: Elder Joined: 5/27/2008 Posts: 3,760
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I take a medium - long term view,so all decisions have eventually turned out OK. However not getting out of Kenya Finance Bank when there were credible rumours flying around was not smart.
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Rank: Member Joined: 2/20/2007 Posts: 767
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mine was cables. I bought 500 shares at 170 (before the split) and when the price went up to 600 I bought another 500 shares hoping to sell all post split at shs 100. this did not happen. I watched my profit disintegrate until the share hit shs 45 and I bolted. Lesson no. 1 was never follow up on another buy once the share has gone up too far from the initial buy price,it only pushes up your average buying price. Lesson no. 2 was dont be too greedy ( I had a perfect oppotunity to sell at 80shs) and no. 3 was avoid being emotionally attached to a share. They must find it difficult....... those who have taken authority as the truth, rather than truth as the authority. -G. Massey.
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Rank: Member Joined: 5/29/2008 Posts: 26
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I used to have Kcb shares and i sold them for 65 shillings before they shot up to 250 shillings then they were split,i always regret why i sold those shares Laughter is the best medicine........................Don't worry be happy When a person can no longer laugh at himself, it is time for others to laugh at him.
Thomas Szasz, "The Second Sin"
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Rank: Elder Joined: 6/27/2008 Posts: 4,114
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Bought 5,000 Kenya Finance shares when the price dropped from 18 to 12. But the bigger mistake was to convince two of my friends to invest in the same stock. Less than a year later,the bank collapsed! My friends still remained,one eventually agreed to marry me! Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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Buying Uchumi despite hearing the rumours that is was a hollow shell,and still is! Business opportunities are like buses,there's always another one coming Business opportunities are like buses,there's always another one coming
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Rank: Elder Joined: 6/27/2008 Posts: 4,114
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@ KulaRaha I know a guy who was talked out of buying into KenGen IPO by a 'Financial Adviser'. He was told to put the money into Uchumi. And he did - ouch!!!!!! Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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Rank: Member Joined: 7/1/2008 Posts: 1
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LAst year when i was stil a starter,my stockbroker advised me to buy SAMEER @ 32.00 and sell when it gets to 40.00. Bought 10000 shares. Price came down to 10.00.
I still have the lousy shares but now i have a different broker.
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Rank: Member Joined: 3/27/2007 Posts: 57
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About mid last year boarded EB bus at Kshs 90 (bought a 1000 shares). Immediately I alighted at Kshs 100,the bus took off (nay,it flew). Another mistake was to purchase a 1000 shares of KQ at Kshs 80 around the same time. This bus as we all know has been having a lot of mechanical problems. I'm still in it,hoping that somehow,someday,it will take off! Learn all about the financial marts http://www.financialmarket.info---------------------------------------
Looking to buy or sell a property? A plot or a house? Check out http://www.kenyareal.com - Kenya home of real estate.
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Rank: Member Joined: 6/19/2007 Posts: 27
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Mine are many but let me choose the worst. Bought BBK post split at 83 after being advised by my idiot broker that it will go back up to 300/-! Idiot broker! Same idiot broker advised me to lenga AK ipo ati bcoz ICT industry in Kenya has no potential. Ok. But my worst has got to be buying ICDC at 43.25 post split! No idiot broker this time. Just idiot me!
Growing older is mandatory. Growing up is optional.
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Rank: Member Joined: 4/13/2008 Posts: 24
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bought 500 bbk @ 81 in jan 2007.......ma money still languishing there.
pumped 350k into safcom....80k of it was a loan......got allocated less than 14k shares...the price has refused to go up
but ayway....av got a reason to smile from my EB......can give me half 300k if i disposed now.........
JESUS DOES NOT INVEST,HE SAVES.FOLLOW CHRIST!
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Rank: Veteran Joined: 11/29/2007 Posts: 948
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Bought 1000 of OCH @ 30.50,1000KQ @ 80 and 1000 ICDC at 41.00 Yes am a slow walker,but i never walk backwards.(anonymous)
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Rank: Member Joined: 11/27/2006 Posts: 57
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Bought 500 KQ @ 114,currently at <50 bob :(((
Bought 5000 mumias shares during the IPO,never recovered.
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Rank: Elder Joined: 2/26/2008 Posts: 4,449
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Bought a chunk of Equity well before pre-bonus but alighted post-bonus at Ksh. 93/= to speculate elsewhere and return shortly,but alas the thing just rocketed to Ksh. 120/= days later.Ouch. Delaying my already written & 'discounted' sell order for Uchumi by 2 days 'due to a busy schedule' comes a close second! It collapsed on the third.
you snooze you lose,you lose you booze
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Rank: Elder Joined: 6/27/2008 Posts: 4,114
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@jammo.. let's hear yours Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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Rank: Veteran Joined: 1/16/2007 Posts: 1,320
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Bought ICDC post split @40/- bailed at 27/-,The worst part is i took my losses to them LAZY INCOMPETENT FUND MANAGERS and got a unit at 5.50 1 year later bailed at 4.25  ..... the sons of Zeruiah .....
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Rank: Member Joined: 7/7/2008 Posts: 124
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Bought 500 BBK units at 585 pre-split and bonus(approx. 90 bob each postsplit) and plummetted to 55 bob!Still holding on them-3200 of them!Bought 10,000 Sameer at 15 bob,rose to 40 bob,held hoping it will go highier after the decration of dividends.Co. declared loss and it plummetted to 9 bob!Still holding on them!Bought Centum before split at approx. 35 bob.Plummetted to 25 bob after split.Still holding tight-2000 of them!THE LESSON,USE MONEY U CAN AFFORD TO LOSE,NEVER SELL AT A LOSS,NEVER BUY BEFORE SPLIT AND BE WARY OF NMG AND EB at the current prices!
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Rank: Member Joined: 10/5/2007 Posts: 91
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Bought a large chunk of Cables in mid 2004 at 32 (say 3.20 post split) just after change of ownership; and I knew what I was doing. 3 mths down the line the price rose to 65 and I exited with a genuine smile. BIG MISTAKE - 1 year later the new onwners announced split and post-split price rose to a high of 110 before settling at the current 40 - Damn!! Today I would sitting on about Ksh 1m on this counter alone,but I'v nil zero zip...
In a situation like this,what would one do?
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Rank: Veteran Joined: 5/20/2008 Posts: 1,126 Location: Nairobi
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I guess we can't really trust these brokers. Like they say stockmarket is an unpredictable market. I bought Mumias in March at 13 and was told by my broker that it would make me some good short term cash. I am still looking at the game it plays around the 12-13 mark but never better. Anyway I think the SK is a much better adviser on shares than relying on an agent or a broker and also as much as you get advise from whoever it is always better to do your own research before making any move popolo JOIN MY FREE MINI-COURSE FOR WRITERS. CLICK HERE
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What was your worst mistake in trading.
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