Pinned straw:
Last night I was jamming with a mate and some kids I'm going on a surf trip with later this year. One of them, Ando - a sparkie who has just finished his apprenticeship, tried to pitch me Droneshield. He was a little light on detail, in fact he misquoted the name of the company, but he'd been tipped into the stock by a mate of a mate and he assured me it was "a sure thing".
Now Ando is a lovely kid. I've got a lot of time for him. But he's a country bogun. When the Ando's of this world are pitching me a stock, I'm going to assume the top is in.
lastever
@Noddy74 This post about Ando has turned out to be hilariously accurate. What else is he tipping?
Rudyboy
Not sure if many people realise but when you put a stop loss order up, brokers can see that and play you.
topowl
#stoploss
Does anyone use stop-loss orders in a limited way....
I've been thinking about Droneshield on the weekend which is way over valuations at the mo...
As an experiment, I'm going to try a trailing stop-loss on it,
Just in case of a one-day catastrophic drop greater than 15% of last days trade value.
Normally, I'm a long-term investor and am quite against using stop-loss orders.
I think it's the first stock in my portfolio that I'd call a hype stock with a lot of potentially "dumb money" piling in.
I've got about a 4% weighting in it IRL, and I want to protect my downside if as dumb money sometimes does......just craters at the first sign of bad news.
I'm still a long-term investor with conviction, and if my stop-loss order trigger sells all my holding...I'll still buy in for an appropriate weighting at the lower price.
Would love to hear if anyone else ever does this.
Again, I'm not a trader, I just see it's above 5 million in daily volume, consider 15% trailer to be a safety net to protect some pretty decent profit, and it really seems to be a hype share at the moment.
My only other experience with a stop-loss was when one I created failed due to a tech problem with my platform as it was the first time using it. Honestly, if I had actually followed through and sold when my stop-loss should have....I would have saved about 30k (it was a speccy biotech that cratered....but I don't touch them now anyways).
Would love to hear if anyone else uses stop-losses in a limited very specific way...
Cheers,
Rocket6
@Noddy74 haha shit the bed -- that's probably the best bear case I have encountered for Droneshield.
Strawman
That's funny @Noddy74
Reminder me if this anecdote
Also, my nickname among my old school friends is Ando, so your story definitely made me laugh