This month has been a rollercoaster ride. At the beginning of the month, we saw the capricon effect taking place. My portfolio grew and it was exhilarating. However, this also brought out the greed in me. As described in my previous posts, prices of Golden Agri and PEC have both rose above my target price, but due to the boom and my greediness, I held on in hope to reap more profits.
Little did I know, things took an unexpected turn and due to issues from US and China, stocks plunge and a major correction occurred. Although I was late in realizing profits, nevertheless I did, and hence managed to pocket some profits before a more damaging dive occurred.
However, another mistake was committed. Amidst the volatility and uncertainty, I plunge back into the stock market and again committing the same mistake of chasing stock prices instead of sticking to my determined buy price. True enough, it is going to be another lesson to learn for myself. Prices continue to drop way below my buying price and I ran out of extra cash to purchase the stocks at really good prices, resulting in my newly bought stocks to be in the red. All I can do now is wait, wait for the uncertainty in the air to clear, and hope that the Chinese New Year around the corner will bring about a new year rally to boost the market and bring my current portfolio into the green again!
My Current Portfolio:
Lessons learnt: In times of correction, wait for at least 6 days before plunging back into the stock market to buy. Always stay disciplined and stick to the determined buy price. Check all indices and technical indicators to confirm its trend as much as possible before buying. Whenever in doubt, skip the purchase. It is always better to miss the chance of profiting rather than rush into it and get stuck in a loss.
No comments:
Post a Comment