I lost Money in the Market
Yesterday I posted about trading UTS Energy Inc. Today I lost my shirt on that trade and I’m not feeling happy about it!
I had thought UTS bottomed out but it fell another 35% when the costs for the Fort Hills Oil Sands Project Ballooned today How stupid I feel….
This is the first time I have lost in a trade of this kind in the market in a long time.
I went against all my own rules of investing and tried to catch a falling knife which is a big “No, No”.
I also went against another rule of mine
Don’t get emotional about investing
I couldn’t help it today I feel just terrible I had made such a bad trade and even posted about it!
The only rule I really followed through with and I’m happy so far about is -
Don’t turn a trade into an investment
I made the trade, I lost the money and I sucked it up and I’m trying to live with it.
I still think there is a lot of money to be made in this volatile market but I need to find the true bottom rather than trying to guess it.
I ignored the charts I usually read and invested emotionally.
You always need to follow rules when investing and I think I was being greedy and stupid.
When you play with fire you get burned and that’s exactly what happened to me today.
Kelly Parks
www.wealthforinvestors.com
Leave a Reply