Learning From Losses | Missing Out

"What happened?!?"

A few moments earlier...

BCOR opened at 8.50 a few flux below from the 8.55 previous close. It skyrocketed to as high as 12.80 in less than 5 minuties. That was the limit. It reached its 50% ceiling limit that day. So there's just two scenarios that was bound to happen. Either buyers will HODL hoping for a ceiling play sa Monday or people will sell thinking it was just 5 minutes from open so a whole day of waiting was too long to HODL and wait for Monday's play.

If you're thinking "Wow, nahuli nya yung ceiling play na yun?", you're wrong. I didn't caught this ceiling play.

BCOR was making a noise for the past few days before this happened. "Anong meron?", the blind followers asked.

Nothing.

Walang meron.

I am one of the newbie blind followers before, I was one who got hooked to the promise of 'to the moon' for BCOR.  

"Shit, top gainers for the past few days tapos ceiling play kahapon, kailangan ko masakyan to..."

But I didn't ride it when it was going up. I rode it down!


Yes, you read that right. I rode its dive down.

I bougth it at 7.00. Wishing for it to bounce back today, or on Monday at least. Bounce play pre. Genius! Haha. (natatawa na lang ako sa pinag-gagawa ko non)

So there it is, I bought at 7.00. And it continued to dive lower until EOD. Closed at 6.48. 25% loss from opening price.

I was barely a month on stocks trading and I happened to witness a stock went as high as its ceiling in less than 5 minutes only to close at a 25% loss in a day.

I HODL.

Monday. It dove deeper and deeper and deeper. So I swallowed my pride and started selling at 4.60-4.30. I sold 10K shares of my 13K. I held on the 3K shares hoping that someday it will rise back from the depths of whence it came from.

But it never recovered. It just went deeper and deeper and deeper into the depths of the ocean. Until finally, I let go.

After 20-ish days of holding on o my 3K shares. I sold them at 2.58. It was such an eye-sore seeing that big red percentage loss sa portfolio mo everyday. I summoned all the courage that I can get to click the sell button. And finally I did. Then I was relieved. Relieved of the everyday pain of seeing your dumb mistake on your portfolio. Screaming red of losses. Getting worse and worse by the day. As a consolation, I was thankful to myself for letting go, as the stock continued its decent deeper as 1.36.

I lost 60% on this trade. A hefty amount to learn a few important lessons for a newbie like me.

Don't give in from the fear of missing out. It can cause you to violate your rules (If you have any) and enter a trade without a plan. Don't catch falling knives. And don't put big amount of your money into one trade (especially if you're a newbie).

This is the result when you got no trade plans and when you only want instant gratitude. Another WTF moments on my journal. You can realize so much from journaling your tradesz. Both positive and negative. Genius and dumb moments. Most of the times it will make you just laugh at your moments. But the benefit is, you can identify your mistakes. What you did wrong and what you did right. So that next time, you will never do the same mistake again or you can have the chance to improve the right thing you did.