08-29-2015, 05:42 AM
As a junior investor, what did I learn from the most recent sell-off:
1) I read no one could time the market, but I still believed it was possible... I failed... miserably!
2) I was betting on a long correction and the start of a long bearish feeling, Mr Market fooled me well.
3) Always have money available and ready to deploy in your broker account, having to wait 3 days for the money to land was rather painful.
4) Always have GTC for your most desired positions. If you are not checking the market every minute, it'll do the work for you. Having a GTC for Apple at $99 and Altria bellow $50, etc would have made me very happy.
5) Your phone is your friend, just use it.
I missed amazing entry points because of all the above. I hope to have learned my lessons and be ready next time around!
1) I read no one could time the market, but I still believed it was possible... I failed... miserably!
2) I was betting on a long correction and the start of a long bearish feeling, Mr Market fooled me well.
3) Always have money available and ready to deploy in your broker account, having to wait 3 days for the money to land was rather painful.
4) Always have GTC for your most desired positions. If you are not checking the market every minute, it'll do the work for you. Having a GTC for Apple at $99 and Altria bellow $50, etc would have made me very happy.
5) Your phone is your friend, just use it.
I missed amazing entry points because of all the above. I hope to have learned my lessons and be ready next time around!