Lesson!25 Jan 2021 10:04
This is a massive lesson for me which I hope to share with fellow investors. I am fairly new to the AIM world and I went it very heavy with an average price of £1.75 and it was 100% of my portfolio. At one point during November I was 55%-60% down. I read someone on Twitter who said something along the lines of 'sometimes the best thing to do in situations like this (ie when everything dropped like a stone) is to do nothing at all'. I then said to myself as soon as I can break even or make a small profit I will de-risk - NOT because I do not believe in the company, just because I was in far too heavy for my circumstances. I have now 40% sold out at £1.89 (small profit). Going to sell a further 20% at £3.60 and then free ride to at least £6.
One more rule I have learnt , do not take anything anyone says via social media as accurate, there are so many rogues and rampers around so always make your own judgement and STICK to it. It was hard for me to sell 40% this morning but I reminded myself to how I felt on 'that' day and made myself stick to the rules I had set.
Well done to the long term holders and thank you to regular posters such as PMJH (RIP), Ghia, Goose (RIP), Wedme (RIP?), Doc, GKB, GGGG and I am sure some others who I may have missed! I think the party is only just about to begin...