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  1. #16
    Advanced Member
    Join Date
    Dec 2001
    Location
    New Zealand.
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    2,059

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    I think many people would have made that particular mistake, Lawso. One of my examples was with CER (Ceramco). I bought very well (CER was in a good uptrend) and I tripled my money in a surprisingly short time. The uptrend ended with a clear reversal and a downtrend began. I was a "Buy and Hold" type of chap back then, so I held. And held. And held. All the time CER was in a steady downtrend. I finally sold when my initial investment had halved in value. Hard to believe eh? My inactivity had turned a 300% profit into a 50% loss! I would like to be able to report that such a thing never ever happened again, but alas, it did. I think I must be a slow learner - I seem to have to make every mistake 3 times before the lesson is finally driven home.

  2. #17
    Member whiteheron's Avatar
    Join Date
    Dec 2003
    Location
    , , New Zealand.
    Posts
    327

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    Phaedrus

    I too was a slow learner -- for close to the the first two years , making all of the errors that new investors inevitably make

    From what I have read and heard it seems that all new investors have to suffer several significant losses as their dues to becoming a reasonably competent investor --- this was certainly the case with me --- ouch !!!

    I am pleased to say that bad picks have been few and far between over the last eighteen months
    Long may it continue

    Constant vigilance and "stop losses " help absolutely heaps
    Time is the great revealer

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