Losing My Mind Over the Stock Market Crash
KOSPI dropped 3% today, and the battery stock I bought is down 8% lolll
I'm 25% below my average cost and debating whether to cut my losses. People say 'buy the dip,' but I have no idea where the bottom is.
Should I just hold on... or increase my cash position?
How are you all handling this?
6 answers
Agreed... I'm also stuck in secondary batteries and I'm literally crying blood today lol
The saying 'buy the dip' means you should first confirm the bottom, not blindly buy without a trend reversal, or you'll get caught in a deeper fall. Right now, it seems right to increase your cash position.
I just hold on. Last year, it went down by 30% but recovered. However, it's essential to check if the stock is still solid.
Well, many secondary battery stocks have already dropped by more than half from their peaks. Isn't it too late to cut losses now? Wouldn't it be better to look for a timing to buy more instead?
After the market closed today, it turns out -8% wasn't even the end. I'm scared it'll drop even more tomorrow ㅠㅠ My mental state is really shattered.
The timing of cutting losses is up to you, but if you're already down 25% on average, that's a significant loss. Holding on blindly could lead to even deeper losses. If a rebound occurs, I recommend cutting losses in stages.