Sold MTW @ $6.00 For An 8% Loss

MTW fell through the floor this morning and I had to get rid of it. I sold it at $6 for an 8% loss but it was really a lot more than that because I bought the stock on margin.

I’m reconsidering my use of margin right now. This makes it way too easy to lose huge sums of money. Just an 8% loss wipes out about 20% of my account? Sure it works the other way too. Perhaps if I had more trust in what I was doing it would make sense.