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What a week.... hopefully BC stays above 50k
What’s the Thoughts on what will be the Friday night SP close?
Unfortunately we will see sub $50k tonight. Maybe second chance for top up. Hope it will hold that resistance
Totally agree Proph. If a share is underwater it's an easy decision for me. Hold - unless something big has happened that means I need to reassess what I think the share is worth. Otherwise if I thought it was a good investment before and nothing has really changed then surely it is even better value after the sp drops (unless there is a clear reason why it should have dropped) - and the only decision is whether to add to take advantage of this.
Protecting a gain is harder though and like you I set targets in advance to try and take the emotion/greed out of it. I also set targets as to when to invest or add. I find this works well, especially as someone with way too much experience of gambling, as temptation and greed take over (buying too readily, selling too quickly or 'I'll just hold out for a little longer to see if it goes up even more'). The difference with me is that I set targets for all stocks. Those that are more like what you describe as investments I just set higher targets for.
Everybody must find the way that suits them but this discipline works well for me with one noticeable exception - ARB - which I bought left, right and centre as it was on its way down recently!
Deej2, round of applause for honesty my friend. If we are honest every one of us has made a mistake (or several) along the way and most if the time we do not even admit it to ourselves, let alone post it.
Good for you.
Probably saved a few people some money by posting that mate.
Good for you
RC
I’ve managed to come out of this in quite a fortuitous position. Since jan I’ve managed to ride Argo up and sell at reasonably near the top having bought in at 135p. Then I bought back in and topped up a couple of times and have had an average of around 240p for quite a bit.
My stop loss got knocked out at 200p last week but have managed to buy back in at 165p with more shares and are now riding it back up.
Yes but if you were 5000% up but the potential was absolutely huge to go to10,000% up then what are you going to do?
;)
Prophet
I am.more than happy to swap my -20% to a 5000% profit ??????
Anyone up for this challenge ??
It’s crazy, but sometimes it’s actually easier to make decisions when you’re underwater than in good profit. If you’re down, you just need to hold on, but if you’re up, then there is a huge temptation to protect your gain.
For me, I have to decide before hand whether it’s a trade or an investment I’m making, and that sets my decision path. If it’s a trade what’s the target, don’t get attached and sell at the goal. If it’s an investment then I just keep buying and holding to see how far it could go and keep researching so if things go a little south, then you have a solid foundation and it’s less stressful.
But if truth be known I’m a better trader than investor, as I just get too addicted and buy too much. Like here :)
Proph: a combination of all of those and, if I'm honest, a tiny bit of greed crept in as I expected the sp would drop again, therefore present an opportunity to buy back at a lower price and fully recoup all losses, quicker. I now know that 'being out', and therefore possibly missing out on rapid gains, sat far less comfortably with me than expected. But hey-ho. Lesson leant. If it drops aggressively again, the skin is definitely thicker to shrug it off.
SR123: sounds like a plan.
Deej2,
Yeah, horrible feeling really!!
So it may be of help to others, what made you hit the sell button? Too volatile, back in profit and fear of losing it again?
I'm genuinely interested
hopsta999: I spend my day on work video calls exaggerating my head-nods, pretending I’m listening, whilst focussing fully on the sp on other screen.
Stnz: I hope so mate.
Proph: you’re very welcome. Not really. Genuinely gutted :-(
Bristolian: good rule. Struggling with discipline, here though.
I have a rule, I only check portfolio SPs on the hour. It can be exciting and exhilarating but also highly addictive.
On behalf of her majesties tax department, thanks for the extra and unexpected stamp duty payment!!
:)
In time this won’t be important my friend.
Totally agree deej2... my work suffers as I'm hitting dummy sells half the day
Wobbled off the cliff just before close yesterday. Sold out. All out. Shed my Argo, despite the replies to my post on here (thank you, by the way). Instantly regretted it. Panicked all night that 'the' RNS would drop this morning. Hit refresh on my phone solidly from 7am to 8am. Rushed back-in this morning. All in. Average jumped up considerably from 176p to now over 200p. My 'red' is more of a scarlet. Massive faux pas.
Note to self.: give the constant checking of share price a break. Come back in June. *puts head in hands* / *screams in disbelief*.