Readers Tell All

IOMG (PseudoTonal , 4/7/97 14:43)

I bought IOMG (before it became IOM) with all my life savings and fully margined. The days immediately following, it gapped down a few times. Then I got a margin call. I got out by the skin of my teeth. I lost all my profit since I started investing and more besides for a total loss of 40% of the total money I had placed into my account. The killer was that if I could have hung on for a few weeks, I would have eventually been in the money, but I sold all shares. I have yet to recover the loss to break even. Moral: always use stop loss orders; and, never put all your eggs (and your broker's eggs) in one basket.

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