novice emotional investor alert26 Aug 2016 19:56
So I bought this share after brexit results as I decided it looked good - didn't do much research, just read an article and gave it a go. Prior to mid June I hadn't bought a share for 2 years as previously I got burnt buying penny shares - Quindell and the likes (after initially doing quite well with the post office IPO as my first ever share.). Suffice to say I also bought a few oil penny shares too, got obsessive and lost most my money.
This time round I said to myself I'll do it properly, buy and hold etc. I thought I was wise setting a price target at 52 week high and sold out at 1243 despite doing lots of research and thinking it would break into new highs I let emotions take hold and sold, justifying that having made 24% in 2 months seemed good to me, and that broker targets had all been met. Anyway having done even more research (retrospectively I know) I regretted my actions and think maybe I should get back in.
Question is, do people think there may be a retrace in Sept, so I can get back in at 1243, or is that history now and if it's going to continue on the up do people think now is low, i.e, get back in on Tuesday.
I expect after reading this many of you all probably think I'm a mug, but hey we all have to start somewhere, and I'm recognising that emotions dictated my sale.
views / opinions would be appreciated. Especially how to overcome emotion when you know the theory, but struggle to implement it.
I
Cheers,