I was just wondering if you had a moment to spare some insight? I've been trying my hand at short term investing for the past 2yrs, the first year was good, I made mistakes but came out ahead and thought I had learnt from them. The second year not so great... I seemed to do what I believed was right and it'd almost always turn out to be wrong, and now I've had a massive run of them. It's rattled my confidence to buy and to hold... I remember you had said a while ago that you have friends who used to trade but then became incapable. I'm scared that has happened to me...
I sold out of RVR at a loss because of a big holder liquidating, because I knew from previous price movements it was a leaky stock, only to see it bounce back up again. I sold out of SBM because macro at the time said gold was going down, only to see it bounce again. I pulled my order for NCZ seconds before it was hit @51.5c, because it was a big down day and most holders were already up 100% profit, it jumped massively the very next day, and it went on to double within 2 weeks. Now my latest and possibly final blunder, after holding through a decent loss I finally sold RSG because of vague information about a scandal involving the CEO and his broker selling shares without permission, I wanted to wait on the sidelines for clarification. The next day it jumps 7%, and is still going up today, and I'm too scared to buy back in because I'm worried it could drop down again and compound my losses.
It makes me so sad and depressed. I work so hard selecting stocks and picking the ones I like, but I feel like I'm losing control and I don't have the conviction to buy or hold now. Is it a phase or am I not cut out for this game? I really wanted to make more money for my family but I literally feel cursed because of the timing of my transactions. I dont have anyone in the business to talk about it with and feel so alone in it all... Sorry mate I know you don't know me from a bar of soap but I dont know what to do... do I walk away? Do I persevere?
Thank you,
Michael
MCC Price at posting:
$16.01 Sentiment: None Disclosure: Not Held
