My trading always seems to result in buying high and selling low. Which is why I’ve given up on it.
For me now, it’s the long term and primarily reliable high yield so that I don’t stress during the periods when the SP is in decline. Such as the cycle WBC finds itself in now. Of course management bungling irritates but the good ship Westpac steams along obliviously, only the SP is affected for a period. Wait long enough and it recovers.
And here’s the problem with profit taking. You’ve got to find somewhere else to invest your new found extra capital. Each new investment exposes you to an increased likelihood of making a mistake and investing in a dud company and wiping out all your previous profits.
WBC Price at posting:
$23.28 Sentiment: None Disclosure: Held
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