The end of my first investing year

[prawn_86]

Well its official. Today marks a year exactly since i made my first share purchase.

I am currently sitting at a paper loss of 15% but went as high as a 35% paper profit before the correction. Shame i didnt lock them in.

I must say that I am happy with how things have panned out, although i am currently sitting at a loss i am confident with my stocks moving into the future.

And even if i sold up now, the amount i would lose in $$ would be far outweighed by experience gained. I have learned more in a year of investing than i have in 2 years of Uni thats for sure!

This is a great site and i wish i discovered it earlier but i hope i can contribute well into the future and my goal for this next year is to achieve the same or greater return than the index.

 

[ROE]

Well its official. Today marks a year exactly since i made my first share purchase.

I am currently sitting at a paper loss of 15% but went as high as a 35% paper profit before the correction. Shame i didnt lock them in.

I must say that I am happy with how things have panned out, although i am currently sitting at a loss i am confident with my stocks moving into the future.

And even if i sold up now, the amount i would lose in $$ would be far outweighed by experience gained. I have learned more in a year of investing than i have in 2 years of Uni thats for sure!

This is a great site and i wish i discovered it earlier but i hope i can contribute well into the future and my goal for this next year is to achieve the same or greater return than the index.

Good stuff Just don't market time and with hind insight it's always easy to say you should have sold when you made the profit but rarely do any human does it

Just pick stock worth $1 selling for 80 cents or less and you never lose
work for me 100% of the time year after year.. never have a -ve year. Since start of the financial year up 5% even in the current crazy market.

 

[juw177]

Hello there. Glad to hear you enjoyed the ride.

I remember I gave you a hard time about being attached to all those speccy stocks. I see you are still attached.

What I was trying to say is that you couldve avoided some of your loss if you just accept that you cannot predict the price of your stocks no matter how well researched they are. The stocks dont owe you anything and you should never assume it will go back up just because you think it is a good company.

 

[josh_in_a_box]

not quite end of my first investing year...bout a month off

but i def agree that i learnt more studying and investigating for myself then being at uni!

 

[INORE]

nice post prawn....takes guts to publicly admit your down...i've been trading on a monthly basis for about 5 years, weekly for about 2 years and daily for about 1 year...its become a hobby...i rarely talk to other people about it except on this forum...prob because if i'm doing well i dont want to be bragging and if i do poorly i dont want to look the goose....i think the most important thing i have learnt in all this time is that you can never have enough reliable sources of info to research a stock or get a feel for what is about to happen to a stockmarket...the trouble is if its bad news we dont allways want to beleive it and find it hard to release the stock. Catchya.

 

[stoxclimber]

Happy birthday!

 

[prawn_86]

Thanks all for your replies, and lets hope the next year is profitable for all!

 

[kelvin8r]

Hey Prawn

Nice thread mate. im still 3 months off completeing my first year, and currently just over 13% up. have learnt a hell of alot and really enjoying it. Have only just recently found this forum aswell. Well done to everyone who contributes

 

[nizar]

I must say that I am happy with how things have panned out, although i am currently sitting at a loss i am confident with my stocks moving into the future.

This is where the problem lies.
The confidence should lie in your strategy or system, NOT in the stocks you pick.

These comments by juw177 should be noted:

What I was trying to say is that you couldve avoided some of your loss if you just accept that you cannot predict the price of your stocks no matter how well researched they are. The stocks dont owe you anything and you should never assume it will go back up just because you think it is a good company.

 

[disarray]

I am currently sitting at a paper loss of 15% but went as high as a 35% paper profit before the correction. Shame i didnt lock them in.

just finished my year as well, hell of an ending for us hey? made 13% but gave back a lot of profit along the way.

the #1 most important lesson learned is to not screw with my stops. the ones i left alone gradually went off in the leadup to the fall, the ones i stuffed around with i ended up selling for a loss. some people insist on learning their lessons the hard way

i'll add a thanks to the forum and wish you all good luck in your endeavours.

 

[prawn_86]

This is where the problem lies.
The confidence should lie in your strategy or system, NOT in the stocks you pick.

ok perhaps i should re-phrase that i said.

I am confident with my style now, and intend to focus more on near term producers such as AZC and QOL, and also to diversify away from mining stocks a little in these uncertain times.

It should also be noted that i am happy to hold onto a stock for medium to long timeframes, so fluctuations in paper gains and losses can be tolerated.

But i do appreciate all your comments and will make a note of these things as i move into the future