Short Term Trading Weekend Xmas Lounge: 16-18 Dec, page-74

My first post here but like many I read every post on this thread and have done so for months. Firstly thanks to all the regulars who provide so much insight and value to HC. The effort Some of you guys/gals put into this is truly amazing and so very much respected by many.

What have I learned.
1. Have a plan and stick with it. Having invested in XPE early on and sitting on a 200k profit in May. BOOK SOME PROFITS or free carry at the very least. I was stupid enough to think that the fairytale was never going to end. That and after telling family members about it, some decided to buy in also around 8-10 cent mark, in the europhia stage. This made the decision to sell my shares harder for me because of the guilt I was feeling knowing they were sitting on losses. I felt obliged to hold my shares as a result. In hindsight I would have been much better to sell my shares (as I always had a plan to sell 1/3 at 10 and free carry) and give them their capital.. I know that it was their own decision but still was hard. Needless to say I sold out and booked a much smaller profit. This was my first real big winner and I threw away a massive opportunity.

2. Don't let previous trades cloud your judgement. That applies to both losing trades and winning trades. Don't buy into a stock that appears to moving simply to try and cover a loss. You'll probably end up with double the loss. Learn and be truthful to yourself about you did wrong on the loss but also look back at the winners and assess what you did right and why it worked out for you. Back your own research. If you have done enough then go with it. Either way You will soon find out if you have.

3. Catching falling knives is a mugs game. Wait for good TA/FA as not too many pick the bottom nor the top. Trade the trade if short term and only trade with what you can afford to loose.

4. Most importantly at the end of the day.. It's just money. It's not seeing your children smile, laughing and enjoying themselves. Get out and away from the computer and enjoy life. Laugh and be happy. It can be taken away in an instant something that as a police officer in my real life I see almost every day. There's no rewind or pause button in life and you only get one shot at it. Enjoy, do what truly makes you happy and all the rest will fall into place.

To all here merry xmas and a very happy new year to you all. See you all in 2017.