What I usually try to do when I screw up is not dwell on them. Instead, I try to identify why I made the mistake and then try to figure out how I can fix that issue. I don’t beat myself up over them – there’s no benefit in doing that. I’m human. I made a mistake. I’m going to make more in the future. The best thing I can do is just make sure that mistakes don’t turn into a culture of repeating them.
Here are my 2 mistakes:
1) Never buy bad stock and keep.
Example:
Oilcorp bought at 1.20, then got account fraud, so keep, start trading at 0.50 cents again, deeep in my heart still want to keep. But in the end sell when going to be delisted at 9 cents.
Namfatt bought at 0.70, 20 cents don't want to sell, now PN 17 trigger only sell at 11.5 cents.
Total damage: A lot + confidence loss + doubt about myself.
2) Buy good stock and be patient about it.
Faber bought at 1.20 but throw at 1.25 cos damn slow, now Kanasai 2.25.
Kfima bought at 0.86, 0.90 throw liao now 1.04
Gopeng bought at 0.70 throw at 0.72 now 0.95
How to solve this mistake???
t’s a simple three step solution for any financial mistake.
First, don’t beat yourself up over it. It’s water under the bridge. Don’t dwell on it and look down upon yourself for a mis-step. Instead, look at your situation now and try to figure out where the best place to go from here is.
Second, identify the problem. Spend time reflecting on exactly why you made that choice.
Third, identify and implement a solution. Once you know what the problem is, take action so that the problem doesn’t repeat itself.
Source: http://www.thesimpledollar.
1 comments:
Hi bro, I believe most investors (new birds) has the same feeling too... but it won't be easy to determine whether a stock is good or bad "BEFORE" it happened, most of the time only we are able to know it "AFTER" it happen :). Wonder do you have any idea how to "prevent" it? Let's share :)