Question about ignoring a 'don't sell' post from a forum user named 'ValueFinder' last March

My cousin, who trades a lot, told me to hold onto a stock that was dropping because 'ValueFinder' on a big investing forum said it was a long-term hold, but that advice cost me about $1,200 before I finally cut my losses.

3 comments

3 Comments

jade22120d ago

Yeah that's a tough spot to be in. Honestly got burned like that once too, just trusting a forum post with no real digging. What worked for me was setting a hard stop loss from the start, no matter what anyone online says. That way the decision is already made before the panic sets in. Forums are good for ideas maybe, but you gotta do your own homework on the company.

michaelnguyen21d ago

So you held on because of one "long-term hold" post from ValueFinder. Did you ever check if that user had a history of good calls, or were they just some random person with a confident sounding name?

the_mason17d ago

Yeah exactly, that confident username got me too once. Now I just check their post history for five minutes before even considering their advice.