Monday, May 04, 2009

Another Mistake - aka the 'after I sell, then rise alot'

Guess this is a pretty common mistake.

I've made quite a few so far. Today was no exception.

Looking through my remaining shares in the portfolio, I saw one that was unmoving for quite a long time. It has slight gains, 10+%. I decided to sell it off, to release up the capital to buy into another share counter to achieve volume effect.

Problem, I sold that in the late morning, later throughout the day, the price of that counter rose. I could have made $250 more... Sianz. That was cos I had to go to work earlier than usual hence I decided to sell off first at current prices, against my norm of setting a target order instead. Then for the buy-in to the other share counter, I didnt do an immediate buy at the current prices but left a target order instead.

Guessed what happened by the end of trading?
Prices of first counter that I sold rose a bit, $250 extra fly fly away. PLUS other counter I wanted to buy-in, prices also rose, so my orders to buy-in didnt get transacted cos they were at slightly lower prices. SIAN!!!

Now I saw my portfolio and some of the BIG gains just today alone. I am tempted to see off to lock in profits BUT I was calculating, even if I see off all the shares in my SG portfolio at current higher prices, I cannot hit my 30k target. In fact, nowhere near $20k.... Gains is several thousand dollars possibly BUT not reaching ten thousand dollars this round.

Hmm... Now I am trying to think of some sell strategies and targets that would maximize my gains, and also maximize the possible returns so that I can achieve this target.
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Hmm... but still so tired from work. Worked later today than usual. Crappy shit day. Also on my way to work, I tried thinking positively using shares. A relook of the perspective on work gave me 2 insights.

- First, if I slack and perform crap at work but didnt get fired, I can still earn monthly pay with 13th month, but without performance bonus which is max to 2.5months. Effectively can get 13.5 months of salary on a medoicre level or maybe to put it more realistically, at a I-dont-need-to-kill-myself level.

- Second, if I can get $30k by end of this year, it means I CAN be unemployed for about a year cos I ALREADY 'earned' almost my basic pay for this whole year.

What does these 2 insights lead me to? Would I defer my intended rest? Chances are no, I would push forward in the stock market part instead and dont kill myself at work. But the reality of being more slack or bo chap is that there is a point, where things cannot be bo chap. Just my high morales keeping me back... I need to reprogram that part asap to change this flaw.

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