RE: INVESCO UK INVEST INVESCO UK OPPS UK Y ACC (BRAAJR)12 Feb 2023 16:13
Good post in reply to my question as I sliced BP 7,8 & 9 as it shoot up on good results last slice was at 540p
He was not selling any they topped 570p 11am on the Friday 10th ( a further 5.5% )
I know full well that success today can quickly turn into despair tomorrow because the market is an unforgiving mistress. But I didn't want to completely ignore your question.
I have been investing and trading for many years, not all of which were successful. I've become better with experience and the last 4-5 years have been outstanding. Of course there's a strong element of luck as well as judgment. I piled into Big Oil positions into the 2020 downturn and the returns have been quite spectacular.
But there were days in 2020 (and others here will say the same) where I woke up afraid I could lose it all. I am so glad I held my nerve. More recently I have done very well in buying and trading US tech stocks.
I became a much better investor when I realised most of my investing energy should be spent on research rather than trading; have convictions based on logic and knowledge and stick to them. Diversification is very, very important; never go all in, always have a route out of every position. Don't always follow the herd; it pays to be contrarian because the best opportunities are often found when the world is panicking (but this requires mental toughness). Finally, brush off the failures quickly as long as you're doing well overall; it's a game of averages and none of us gets it right every time.