During the month of April in the 2009th staryear there was a frenetic rally happening in the LSE (London Stock Exchange), and I, Moximillion, a brand new player, a novice trying to make some money out this buying spree started to panic.. I'd love to say I'm calm, unemotional in the face of daily price surges and dips, however, as a human it is impossible to control the sub-conscious, vulcans are better at this, their logic is supreme in the face of fearful selling and greedy hope for cash..., I should get some lessons from Spock! As a result of my emotional inadequacies I begun to display a trading trait which I must nip in the bud fast if I'm to succeed, I have named this trait queue hopping..
Was in IKEA a while back, to purchase a desk for my work-space, it was late, the place was bizy, it was near closing and many many shoppers descended on upon the aisle's with trolleys.. I stood in a queue and waited with box in hand, 2 minutes later decided to move to another queue coz I thought it was moving faster, I waited, looked around, then spotted a problem, a woman at the front of my newly chosen queue had a basket spilling over with dozens of small miscellaneous items, shit, I started scrutinizing, researching the fundamental loads of each trolley so as to make a more informed decision as to where to move next, ahaaa, another aisle, it had many trolleys but mostly big items in each, I shuffled back out of my queue to another, content now, I'm in the right one, the one which will move forward the fastest..., or am I? The queue I started-off in has emptied, checkout closed, lady cashing up..
In April I purchased shares of companies, spending my cash, hoping for an uptrend on each.. The more I looked at other companies, the more excited I got, maybe this one will move faster, maybe the stock I own is loaded down with issues I can't yet see, I tried to research, looking at the fundamentals (news & accounts), and technicals (charts).. I sold a few, took the commision costs on the chin, no profit, or took a small profit, or a small loss.. I spent my cash again, so easy, just like playing a computer game, a few clicks of the mouse, type in a few digits, voila! I have shares in another company, this one'll move better, go up faster, sure of it, and yes, after a few days it's moving, good move captain but...., oh dear, that one I sold last week has gone up 25%, how'd that happen? damn! if only I'd held it, if only I hadn't hopped oot that queue..
Patience captain..
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