Sogotrade account:sell or stay put?
i have shares in it, and currently am waiting for market to pick up, but heres the catch – im in margin – currently with sogotrade its $20 a month, but basically whatever im making from dividends its cancelling it out, in the meantime i have about $3000 of deficit in penny shares in oil, gold that dont seem to be picking up ,my question is this – should i sell everything in order to pay off the margin once and for all and the deficit, and just look it as an experience, or should i just hang in there. as most people know its a weird time on the market moving sideways what with the dow going up whilst people are living in tents. back to my shares- my strategy was to buy and hold and so that section was well thought out and if it wasnt for the penny stock has done quite well, so basically im thinking of just accepting my loss on the penny stock or getting out of the market altogether. anyway, well thought out answers, please? thanks.
Sell your penny shares at least. We have not idea what you are holding but they are notoriously difficult to make money out of.
As for everything else, well if you are in profit set a stop loss to protect your profits – say 10% below the current market price.
Live Penny Stock Level 2 (“L2″) Example