On June 26th 2017 I had bought 11 739 stocks of Lithium Americas ( LAC.TO) for a price of 0.92 cents. For a month and a week I have watched this sock take a beating. I even wrote about the day that this stock dropped 15% in the markets.
I held onto the stock through the drop. It is always emotionally draining to watch a position you hold lose money. Sometimes you have to make a hard call to cut off a losing position. In this case I believed in my reasons for buying the stock for a short term trade and held on. When you are losing money and yet you hold on to your logical believe for an upward movement you have to hold on – almost like a Spartan formation against the constant bombardment. Every News Article will predict Doom and Gloom and will report on how the stock has reached a new low or a bearish indicator blah blah etc.
In this case I was rewarded for my Spartan formation ! I sold my Lithium Americas’s position on Monday July 31st for a 9.5% profit ! Made a gain about $1036! It helped reduce my unrealized loss on Snapchat :p – that is posting for another day !