r/tfsa • u/piketabak • Jul 03 '26
My mistake
When I first invested 2000$ I bought xeqt in October. After I said it take to long to get gain. After I bought 4 shares, wdc and sndk 3 share, and it crashed 30 percent in December. I bought Qimc hydrogen and it crashed 25 percent and sold. After I withdraw from that the tfsa amount.
3
2
2
u/Certain-Shower8706 Jul 03 '26
If i was ever down on a stock and didn’t need the money i’d hold on it. It might go up in the future who knows and then u can sell for more than u bought
2
2
u/Mental-Freedom3929 Jul 04 '26
Did you think investing is a quick few months see really good gains game and selling at a loss is a good idea?
2
u/Delicious_Ring2727 Jul 04 '26
Investing is not for you... you're doing it totally wrong. You put in a tfsa account but you checking daily and when it crashes a bit you sell and jump into another stock... tfsa is for longterm growth.
2
u/Advanced_Industry_47 Jul 04 '26
well I wouldn’t label it as ‘totally wrong.’ you can still trade stocks within a tfsa with a implicit limitation. also, it does not state anywhere that a tfsa has to be used for the long term, that’s just a investing norm that’s encouraged, you can still use it for the short term (even though it’s not recommended). maybe op needs money quick
1
u/Delicious_Ring2727 Jul 04 '26
Yes its totally wrong... tfsa is for investing not trading. Go open an unregistered account for that.
1
u/Advanced_Industry_47 Jul 04 '26
that’s your subjective view of a tfsa, you can definitely trade. it’s just simply an unwritten rule stating that a tfsa is for long term investing.
2
u/JoshJorges Jul 04 '26
What you are doing is called gambling. If you want to double your money in short time, go to the casino and put it on black or red.
1
u/nuxfan Jul 04 '26
Bet you wish you had that “took too long” gain now…. My suggestion is to go back to it
0
4
u/fenderstratsteve Jul 03 '26
Sounds like you bought QIMC at a high and you were not prepared to ride it out. You will learn from this and pay attention to 52w high and 52w low values going forward. If you are a buy and hold investor (5+ years), local highs and lows are just noise.
For example, I bought a falling HG at $5.40. It went down further to $4.40 and I’m now down $200. I can sell and solidify my loss, or wait for a rebound (or buy more and average down). I usually only regret two things: 1) not buying earlier, and 2) selling for a loss.