CCC 0.00% 0.1¢ continental coal limited

over the next couple of months..., page-39

  1. 3,312 Posts.
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    welcome to the market, while none of us is allowed to over you advice, I know when I first started the most important thing was mentally preparing myself for what I would do just in case the price DID drop.
    I knew for me, I had my contingency plan for every share in place.

    For me, I wanted to have already played out the scenario in my mind as to how I would feel if the company dropped 20% in price in the short term. Would I still look at the company the same way? or would I listen to my stop loss and sell out? or would I plan an auto stop loss that would auto stop me out?
    Also would what would my response be if the company dropped 20% on bad news?
    What would it be if the company dropped 20% on no news?
    What would it be if the company dropped 20% on GOOD news?

    All these things are potential happenings. I know for me, knowing how I would respond in each potential situation before it occurs has allowed me to maintain a cool head when making decisions in emotionally charged situations.

    Personally, for me, I have found its how I've dealt through any losses I have had that have helped me on my way to developing a temperament most suited to my investment style.

    The other thing I believe is, never down play how much you have invested. If you only have a little, that investment for you will still be significant and you should treat it as such. It will create the same emotional responses for you, as someone's bigger investment does for them.

    Anyway good luck, hope you enjoy the website as much as others do!

    If you want to really jump in the deep end. Try posting your reasons as to why you thought it was a good investment. You'll be surprised how enlightening it is to question your actions and how much you will learn in doing so.
 
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