It’s been a while since I executed a trade. I don’t really know where to start but my God my 5th trade took me on a roller coaster ride!
Highlights of my experiences:
- Bought PXP Energy Corp stock again on September 25, 2017.
- Paper Gained 20,000+ php on the same day Monday.
- Stock pulled back and incurred a paper loss at around 30,000+ php.
- Days upon days as I watch my stock go down & my portfolio showing a paper loss of 80k php!
- Realized how stressful & depressing trading really is.
- Stock went up and down. This tempered my resolve & commitment to trading.
- Stock started to rise up and made me realize A LOT of things.
- I finally Sold my PXP and it netted me 4.7k php in 3 weeks.
Things I need to correct:
- I will change my online broker from Col Financial to Philstocks. COL is good & all but that day when their system is being flooded by a lot of BUY/SELL orders request, it lagged so much that I actually incurred a paper loss of around 20,000 php. Everyone using COL that day had a hard time executing a buy/sell request. By the way, Paper Loss/Gain is a change in your stock portfolio that you have not committed yet into selling the stock so it is an unrealized gain/loss.
- I Realized how pump & dump work. Sometimes the stock price will soar high & immediately pullback after a day. If you get caught up on top of the pump, you lose.
- I need to manage my greed more. I should have been satisfied with my 20k in 1 day gain, but instead I held into it wishing that it will increase some more. It did not go up and that got me stuck on my stock position for 3 weeks.
- I need to manage my risk more. When I started seeing the stock going down, I should have taken my profit & sold it!
PICTURE below for reference:
