Lessons Learnt from Stupid Mistake - Share Yours

[Temperament]

"We cannot control the market, we can only control ourselves."

It may seems a fair and honest statement.
i beg to differ
And how many times i thought i know myself and the market but it turns out differently.
i think the only way to control myself is not to look at the market & my portfolio.
Can i do that?
Nope!
i look at the market almost everyday since day one.
So much so at times i think i am more then a remisier.
There, that's for trying to control myself.
Passion!

[Shrivathsa]

One of the mistakes was to hurry my trade. I had around 3 lots of Capitaland. On 16th June, 2011, i do not remember now, why, but there was some cooling measure or god knows what and I wanted to sell it off at the open, so, I quickly logged in, saw the price and quickly pressed sell at market and logged out thinking, job done, thank god.

It was only the next day, i realized that I had actually bought 3 lots, so, suddenly had to scramble for money to fund the trade.

The share fell quite a bit, I think i ended up buying at 2.85 or something and in that week, it fell more and more. And I did not want to make a big loss in that.

Those two days of scrounging for money are burned into my memory and whenever I think of buying something quickly, i immediately remember this and tell myself to make haste slowly.

[valuebuddies]

I am still consider as new to stock investing, my greatest mistake is buying Berlian Laju without doing proper analysis, stuck until now as still under suspension. Lesson learned is not invest on chart and don't underestimate the significance of gearing. Since I joint VB, I have not made any silly mistakes as before

[pianist]

start trading in 2008, know nuts of stock market, only know how to compare today price with yesterday last done.

1. Contra NOL and "earn" 1k, thought I got Midas touch and talk about stock everyday.
2. buy Sunvic on recommendation from friend whose brother is a broker. - loss 1k.
3. Go back to NOL, that when the cards start falling. Contra and loss big, had to borrow to pay back. Total retire from stock market.

After attending value investing course in 2013, learn how to read annual report and calculate intrinsic value, been in the black since then.
However, still make minor mistake, like buying 1lot of 2nd chance with $25 transaction fee, ignore reading the detail of annual report.

Lesson Learnt
1. Don't invest money you don't have at the first place
2. Do your own research, don't act from other recommendation.

Hope folks here can learnt something from my case

Cheers

how big is yr contra loss on nol?

[BlueKelah]

start trading in 2008, know nuts of stock market, only know how to compare today price with yesterday last done.

1. Contra NOL and "earn" 1k, thought I got Midas touch and talk about stock everyday.
2. buy Sunvic on recommendation from friend whose brother is a broker. - loss 1k.
3. Go back to NOL, that when the cards start falling. Contra and loss big, had to borrow to pay back. Total retire from stock market.

After attending value investing course in 2013, learn how to read annual report and calculate intrinsic value, been in the black since then.
However, still make minor mistake, like buying 1lot of 2nd chance with $25 transaction fee, ignore reading the detail of annual report.

Lesson Learnt
1. Don't invest money you don't have at the first place
2. Do your own research, don't act from other recommendation.

Hope folks here can learnt something from my case

Cheers

how big is yr contra loss on nol?

why does it matter how big the contra loss is to you?

does the amount make the lessons learnt more or less important?

[pianist]

One of the mistakes was to hurry my trade. I had around 3 lots of Capitaland. On 16th June, 2011, i do not remember now, why, but there was some cooling measure or god knows what and I wanted to sell it off at the open, so, I quickly logged in, saw the price and quickly pressed sell at market and logged out thinking, job done, thank god.

It was only the next day, i realized that I had actually bought 3 lots, so, suddenly had to scramble for money to fund the trade.

The share fell quite a bit, I think i ended up buying at 2.85 or something and in that week, it fell more and more. And I did not want to make a big loss in that.

Those two days of scrounging for money are burned into my memory and whenever I think of buying something quickly, i immediately remember this and tell myself to make haste slowly.

very good lesson indeed..
I had a similar hasty case but is reverse of u...thinking that i had clicked 'buy' bought a counter, i ended up selling more than what I had in the cdp ---so it becomes a naked short unknowingly..thanks god the broker called me quickly but I had to buy in whatever the market was quoting..

[Andrew Q]

start trading in 2008, know nuts of stock market, only know how to compare today price with yesterday last done.

1. Contra NOL and "earn" 1k, thought I got Midas touch and talk about stock everyday.
2. buy Sunvic on recommendation from friend whose brother is a broker. - loss 1k.
3. Go back to NOL, that when the cards start falling. Contra and loss big, had to borrow to pay back. Total retire from stock market.

After attending value investing course in 2013, learn how to read annual report and calculate intrinsic value, been in the black since then.
However, still make minor mistake, like buying 1lot of 2nd chance with $25 transaction fee, ignore reading the detail of annual report.

Lesson Learnt
1. Don't invest money you don't have at the first place
2. Do your own research, don't act from other recommendation.

Hope folks here can learnt something from my case

Cheers

how big is yr contra loss on nol?

why does it matter how big the contra loss is to you?

does the amount make the lessons learnt more or less important?

Contra loss coming to 10k, which is a lot at that time for me.
This is an objective lesson where I feel the pain of "speculating" with money I don't have and the important of doing research

[Temperament]

One of the mistakes was to hurry my trade. I had around 3 lots of Capitaland. On 16th June, 2011, i do not remember now, why, but there was some cooling measure or god knows what and I wanted to sell it off at the open, so, I quickly logged in, saw the price and quickly pressed sell at market and logged out thinking, job done, thank god.

It was only the next day, i realized that I had actually bought 3 lots, so, suddenly had to scramble for money to fund the trade.

The share fell quite a bit, I think i ended up buying at 2.85 or something and in that week, it fell more and more. And I did not want to make a big loss in that.

Those two days of scrounging for money are burned into my memory and whenever I think of buying something quickly, i immediately remember this and tell myself to make haste slowly.

very good lesson indeed..
I had a similar hasty case but is reverse of u...thinking that i had clicked 'buy' bought a counter, i ended up selling more than what I had in the cdp ---so it becomes a naked short unknowingly..thanks god the broker called me quickly but I had to buy in whatever the market was quoting..

Don't you all worry too much just be very, very careful the next B/S. online. Because veteran (paiseh call mysef one) like me also made the same mistakes. i think once was instead of B, i clicked S and once was vice versa. i cleared my mistakes on the spot, so that i lost only a few dollars on the trading fees. Paiseh lah!

[corydorus]

Many years back i invested in a s-chip. That time is still not a blown up.

The company hits profit warning reason being due to road work affecting sales delivery. I was naive as i never thought management can get to so low on excuses. However one after another each Q, the excuses come in a string.

Do not be too forgiving on management excuses. Let your SELL action do the talking. Is the procrastination that kills.
I finally sold at a lost - 5 digits. Today that stock is still in the market at a much lower price with hardly any dividends.

One skill i learned from this experience is CUT LOST and the other is Management Integrity is utmost important.

[Temperament]

Many years back i invested in a s-chip. That time is still not a blown up.

The company hits profit warning reason being due to road work affecting sales delivery. I was naive as i never thought management can get to so low on excuses. However one after another each Q, the excuses come in a string.

Do not be too forgiving on management excuses. Let your SELL action do the talking. Is the procrastination that kills.
I finally sold at a lost - 5 digits. Today that stock is still in the market at a much lower price with hardly any dividends.

One skill i learned from this experience is CUT LOST and the other is Management Integrity is utmost important.

i think almost the same thing happened to me (lost 5 figures) . But this S CHIP was a darling of the market then. Show it has a lot of cash and cash equivalents. Even one of our local banks supported it. But in the end, all were "fakes".
Anyway, my mistakes because i KK lol.
Never S CHIP again or anything to do with CHINA.
Why?
The world is large enough for you look elsewhere that can make you some money too.
Why must go into the TIGER DEN if not necessary?
IMHO.