My biggest mistakes were not understanding the following:
1. Momentum - chasing stocks and ending up swinging like Macraes monkeys. I pick my entry points and stick to them, if the stock runs I now look elswhere until it comes back as it often does, especially now.
2. Myself (Emotion) - letting my emotions control my decisions. I am a very emotional person and yes I get excited and also kick myself. I don't let that get in the way of trading stocks anymore though. I am now more a Jeckyl and Hyde when I am trading I am a different person and emotion has nothing to do with any decision I make.
3. Procrastination (Delaying entry/exit) - once I have done my due diligence and I am ok with what I see in front of me, including a suitable T/A entry point I now enter the trade without delay. I also set stop losses and let it happen if it does get there to protect capital.
4. Shifting stop losses based on point 2
5. Last but by far the biggest mistake - buying CVI and not applying rules 3 and 4. I will never do a trade like this again or by any stock associated with any person such as Smythe and his mates. Embedded - Keep a list of dodgy directors and never go near them, no matter how good the 'potential' looks! Also make sure the 'potential' actually exists and don't believe directors emails or interviews. At least until you are 100% sure they actually have something and are doing something don't touch it.
