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moesoeloe

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21/05/16

18:54

Post #: 17832260
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Originally posted by nine lives ↑

It is always very tempting to jump on a stock that is flying. Been there done that and if I am being truthful I probably still do on a rare occasion when frustration gets the better of me after missing a number of runners. Rarely you might be lucky to catch that unique gem like a PLS or a SIR but in my experience 99 times out of 100 if you chase a stock that is going into orbit you will end up losing. The trick is all about when you buy. There was plenty of time to research PIO and buy when it was in the 1-2c range and there was plenty of discussion about it on HC. My PIO story is a different one. I bought at 1.4c, bought some more at 1.5c and then sold the lot at 1.6c and paid my weekly bills. I felt ill as it watched it skyrocket to 10c while my other Li stocks did nothing......but hey, at least in retrospect I can say I walked away with a profit.

No one ever comes to the stock market expecting to lose. We all come with stars in our eyes and dreams of untold wealth......but the first lesson that one must learn is that the stock market, like the force, has a dark side. She can be a ruthless and unforgiving mistress. If PIO turns around and puts you into profit then I will be happy for you. If not then don't despair.....you have just bought yourself a degree from the school of hard knocks. It is up to each of us to sit down and contemplate what we have learned after we have been burned.

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Excellent post. People need to ask themselves before they buy a stock. Are they buying it because they are fearing of missing out. If so they are better to click cancel. The pros work the emotions of traders who can't control theirs.

And let's face it all traders were there at one point in time. Those that come out of it successful in the end are the ones that learn to take emotions out of their trading.

PIO Price at posting: 3.7¢ Sentiment: Sell Disclosure: Not Held
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