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Re: Personal Investment Strategy Help

I have picked up a couple of new positions,

SIP - I was happy to pick these up for $0.57, i think the market over reacted a bit to their latest results and otherwise they meet my criteria for a buy, happy to pick up the yield and wait for the growth I see coming here.

ITD - a little known micro cap that have a great little business, perhaps the lack of liquidity would scare some off, but with a long term view I am less concerned about liquidity than the strength of the business. Picked up a parcel at $0.30.

I also made my first serious mistake, it was of course one created out of emotion and human psychology rather than an error in my actual analysis. I had been discussing a new strategy to apply to a small amount of my capital, it was a potential alternative way to have some more involvement in the market aside from my long term investment portfolio.

I got to excited by the potential, my desire to apply the new strategy combined with my impatience meant I ended up applying it to entirely the incorrect type of share. Classic case of FOMO! Anyway, almost straight after purchasing the parcel I started to feel uncomfortable with the decision, (something i have not felt with any of my other buys), I went to sleep realising I needed to understand what caused me to make the poor choice and document it to avoid repeating it.

This morning I woke up and on the document i record my trades, with reasons for purchase, exit strategies and notes, I documented where and how I had gone wrong. Then I placed a sell order for the shares and managed to get out with a small profit and a big lesson!

I guess if I can learn hard lessons along the way without losing capital, then thats a bonus. I will certainly be applying the learnings of this mistake in future.