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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Advise from a new investor, to new investors

Advise from a new investor, to new investors

Go down  Message [Page 1 of 1]

AmateurTrader001


Equity Analytic
Equity Analytic
I am pretty sure most of the new investors got slaughtered in this blood bath. But really, it was never your fault. You joined late, you bought late- which meant prices were at highs or in the middle, and the state ministers were applauding at how this market was the best in the world. Not your fault at all. This is Sri Lanka, so you can;t put fault onto immune officials and figures so, you got to own the bucket now. 

As sentiments with new investors were almost likely the same, let me share my experience. Been almost an year, and to be honest this was a very scary ride. No counters survived this turmoil, but what did I not worry about? Value shares with strong fundamentals. I did not bother. much I was able to lower the cost with a few counters today. 

Now what did I fear for? The counters that I bought based on speculation, and stupid TP's based on one "expert". I was bleeding so hard with these I decided to pass the bucket as I could not watch the dip- I was patient for days and this was a point I lost confidence in the market as a whole, and specifically on these counters, and guess what, I could not find a god damn BUYER! I got butchered, if I was a boy I would have cried. Felt like the seagull that was fed fish by a trawler. Even in the market recovery phase today, there were no positive signs for these counters. Cutting my losses, I lost a six-figure sum with these counters. I have made my gains so, gotto accept this is as a part of trading. 

Yes ultimately the market did turn around, but what if the market had failed the 50MA support as well? This was a crazy nut job. I had support levels in mind, and every support level got destroyed.. and that was when I lost confidence. Do i regret my actions TODAY? No. Did i learn a lesson? Yes.

I am pretty sure the new guys faced the exact same scenario. So with my story, my little tip is- 
ALWAYS INVEST IN VALUE! 
ALWAYS BOOK PROFITS! (If I had booked my profits by end of January- I would have a handsome amount in hand now through the highs enjoyed by value shares) 
DONT BE GREEDY! 20%? or 10%? stick to a profit locking rule and abide by it.
USE YOUR OWN MONEY TO BUY SHARES.

Another advise I would say is, in a downturn of the market- if you do not want to lose your profits- go ahead and sell. The experts and older traders may have a sizeable margin to sacrifice,  you dont have to do the same. Dont ever put yourself into the risk appetite of another trader.
 
I learned my lesson. I hope you did too. Good luck trading. To the seniors if you are reading this, and if there is anything controversial here please do advise. Finally, in all honesty, the seniors at this forum were very helpful and useful in my trading, and i will continue to ask their opinions before i make my investments.



Last edited by AmateurTrader001 on Thu Feb 11, 2021 9:07 pm; edited 1 time in total

xhunter, Riz123, ADVENTUS, RJ1010, geesura, skyrocket, Thekal and stockie like this post

xhunter

xhunter
Moderator
Moderator
@AmateurTrader001 wrote:I am pretty sure most of the new investors got slaughtered in this blood bath. But really, it was never your fault. You joined late, you bought late- which meant prices were at highs or in the middle, and the state ministers were applauding at how this market was the best in the world. Not your fault at all. This is Sri Lanka, so you can;t put fault onto immune officials and figures so, you got to own the bucket now. 

As sentiments with new investors were almost likely the same, let me share my experience. Been almost an year, and to be honest this was a very scary ride. No counters survived this turmoil, but what did I not worry about? Value shares with strong fundamentals. I did not bother. much I was able to lower the cost with a few counters today. 

Now what did I fear for? The counters that I bought based on speculation, and stupid TP's based on one "expert". I was bleeding so hard with these I decided to pass the bucket as I could not watch the dip- I was patient for days and this was a point I lost confidence in the market as a whole, and specifically on these counters, and guess what, I could not find a god damn seller. I got butchered, if I was a boy I would have cried. Felt like the seagull that was fed fish by a trawler. Even in the market recovery phase today, there were no positive signs for these counters. Cutting my losses, I lost a six-figure sum with these counters. I have made my gains so, gotto accept this is as a part of trading. 

Yes ultimately the market did turn around, but what if the market had failed the 50MA support as well? This was a crazy nut job. I had support levels in mind, and every support level got destroyed.. and that was when I lost confidence. Do i regret my actions TODAY? No. Did i learn a lesson? Yes.

I am pretty sure the new guys faced the exact same scenario. So with my story, my little tip is- 
ALWAYS INVEST IN VALUE! 
ALWAYS BOOK PROFITS! (If I had booked my profits by end of January- I would have a handsome amount in hand now through the highs enjoyed by value shares) 
DONT BE GREEDY! 20%? or 10%? stick to a profit locking rule and abide by it.
USE YOUR OWN MONEY TO BUY SHARES.

Another advise I would say is, in a downturn of the market- if you do not want to lose your profits- go ahead and sell. The experts and older traders may have a sizeable margin to sacrifice,  you dont have to do the same. Dont ever put yourself into the risk appetite of another trader.
 
I learned my lesson. I hope you did too. Good luck trading. To the seniors if you are reading this, and if there is anything controversial here please do advise. Finally, in all honesty, the seniors at this forum were very helpful and useful in my trading, and i will continue to ask their opinions before i make my investments.
Thanks for sharing this. your thought process is completely opposite to mine when it comes to reacting sudden "developments".

But we can learn lot from this. Thanks.

AmateurTrader001 likes this post

RJ1010


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Great honest write up.

I almost went to the point of realizing a 300k loss but then good sense prevailed since I hold value companies except for one shitty one. Recovery was ok and I’m sure portfolio will slowly turnaround.

AmateurTrader001, ADVENTUS, geesura, Mr. X and Vishwanarth like this post

skyrocket


Stock Trader
@RJ1010 : I assume the 300K company is LFIN Razz

RJ1010


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@skyrocket wrote:@RJ1010 : I assume the 300K company is LFIN Razz

Haha no actually I meant my entire portfolio loss at the peak today was that much. I realized profit last month and have cash at hand.
Was losing patience and pissed off at one point. Wanted to sell almost everything and buy low. What prevented was..
1. Call to the broker and he assured regarding the situation
2. Buyers were asking at even deeper discount prices
3. Realized companies like HHL, BPPL, SUN, HNB etc were not worth selling at a loss

I didn’t get in LFIN earlier and didn’t jump on the moving train

xhunter and Love Boy like this post

xhunter

xhunter
Moderator
Moderator
@RJ1010 wrote:
@skyrocket wrote:@RJ1010 : I assume the 300K company is LFIN Razz

Haha no actually I meant my entire portfolio loss at the peak today was that much. I realized profit last month and have cash at hand.
Was losing patience and pissed off at one point. Wanted to sell almost everything and buy low. What prevented was..
1. Call to the broker and he assured regarding the situation
2. Buyers were asking at even deeper discount prices
3. Realized companies like HHL, BPPL, SUN, HNB etc were not worth selling at a loss

I didn’t get in LFIN earlier and didn’t jump on the moving train
that is called maturity,  ඒ  කියන්නෙ  උබට  හෙන වයසයි. Very Happy Very Happy

RJ1010 likes this post

Mr. X

Mr. X
Manager - Equity Analytics
Manager - Equity Analytics
@RJ1010 wrote:
@skyrocket wrote:@RJ1010 : I assume the 300K company is LFIN Razz

Haha no actually I meant my entire portfolio loss at the peak today was that much. I realized profit last month and have cash at hand.
Was losing patience and pissed off at one point. Wanted to sell almost everything and buy low. What prevented was..
1. Call to the broker and he assured regarding the situation
2. Buyers were asking at even deeper discount prices
3. Realized companies like HHL, BPPL, SUN, HNB etc were not worth selling at a loss

I didn’t get in LFIN earlier and didn’t jump on the moving train

Bro, I did the same... i got so depressed seeing 500 points down today...  about to sell everything.. but just had a clarification with a broker, through a friend (i dont trust my broker...Laughing ) and now holding everything and collected some shares at bottom level. Hope the new letter shared by CSE will give more positivity tomorrow. End of the day loss reduced by 50%...

RJ1010 likes this post

AmateurTrader001


Equity Analytic
Equity Analytic
@RJ1010 wrote:
@skyrocket wrote:@RJ1010 : I assume the 300K company is LFIN Razz

Haha no actually I meant my entire portfolio loss at the peak today was that much. I realized profit last month and have cash at hand.
Was losing patience and pissed off at one point. Wanted to sell almost everything and buy low. What prevented was..
1. Call to the broker and he assured regarding the situation
2. Buyers were asking at even deeper discount prices
3. Realized companies like HHL, BPPL, SUN, HNB etc were not worth selling at a loss

I didn’t get in LFIN earlier and didn’t jump on the moving train
I've consistently seen you citing your broker. You have a good one. What's the firm? I have a hopeless case assigned to me as my advisor. A kid would do better. Not that I would trust them 100% but at-least for assurance over anything.

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