I think you will be fine and do well in the future, knowing where you went wrong is the hardest part imo. Now just gotta act upon it
![Smile](styles/default/xenforo/clear.png)
In extension to your post would like to add a few things I've learnt over my short time
1. Never buy/sell in any emotion if its a fight with friends, family or financial loss. Even the slightest hint of external emotions. I remember cutting ties with a few stock mates (who were significantly wealthy) who would continually talk about how much shares they bought in a company I was on. Even though it wasn't obviously to me there was a slight jealously hiding in my emotions pushing me to try keep up lols, something at the back of my head saying "if this moves X pips I make this much but theyll be making that much more". Its just greed end of the day in its sneakiest form. I quickly managed to learn everyone goes at their own pace and the $ figures one makes does not matter if you hold $500 or $500k.
2. In hindsight this wouldve been ideal with my CR8 bundle I hold. Price took a beating, honestly I still feel it was an undeserved beating but who knows I rather challenge the market over a period rather than challenge the pricing of it today or tomorrow.
I think the main reason behind me still having not sold any CR8:
- I'm changing up my strategy to try master the market over a 3-6month period for baggers rather than quick flips/trades. Although it would've been ideal to sell off CR8 at 10c, I want to see if I'm capable of using this strategy which will come from time and experience of applying the strategy on multiple stocks. I know others have done it here (5,10,20,100 baggers) so comes down to why can't I.
Even at the end of the day if it doesn't work out doesn't mean I have failed, one loser doesn't mean the whole strategy is incapable (both for FA and TA).
3. The most toxic part about chasing imo (and I've done this first hand heavily) is you chase something and it ends up a solid winner. Gives the biggest false sense of ego, gratification and security. Ridiculous how a winner can be more toxic than a loser. I've chased in the past (during tech boom of 2015) and made money. But the losses that came after from the sense of "oh this actually works" was ridiculous. Very blessed I learnt my lesson quick, with minimum losses (at the time was alot of money to me).
4. FOMO. Still got it even today, I was planning on buying some more DTZ on Friday or early next week while things remained quiet but cough* GT cough* makes me feel price may run soon
![Stick Out Tongue](styles/default/xenforo/clear.png)
I'll stick to my plan though but still have a tad bit of FOMO in me for the next parcels I do plan on buying.
Hope all goes well for you, fwiw this whole ST-MT strategy is a headache for me and pushing me out of my comfort zone - TA is my safe haven...but I think it will work out if I keep pushing at it. Just gotta look at some of the posters here, or the STTComp stats which objectively prove it can be done time and time again.
Biggest issue for me rn is CR8 falling....I'm still well in profits ofc but still difficult watching, I've done my DD and all the clues add up to a much higher valuation over time and I have spoken to management and have full belief in them. Psychologically though its annoying. I have gone through this exact same scenario with SRT (IAM - which ended doing very well) but honestly forgot the feeling. I feel spending more time off markets with family/friends/sports help.
Anyone have any other tips or similar experiences?
Cheers