I bought NIKL at a price of 25.2 on April 29, 2014. It was my first day in trading.
The next day, the price stayed lower than my buy price and I got bothered. I set a goal that I will sell it as soon as it hits a price higher than my buy price. When it hits 25.5 on the third day, I sold it all without hesitations. I met my target and so I let go of it with a net gain of P27.53.
But the price went up further in the following days. From 26 to 27 to 28 and even 29!
Ugh! I should have held it rather than selling it too soon. Yes greed was slowly killing me at some point. I regret that I sold it early. But I always keep on reminding myself that I should not be controlled by greed.
I guess, one lesson learned for me is when I set a goal, I should follow it, accept the gain or loss, and try not to check it back nor recompute it using its current price especially if it’s higher now than when I sold it because it’s just going to make me feel bad.
Another thing is, I should always think of my decision positively. It’s okay that I sold it early. I may not have earned much but at least I didn’t lose much either. That 27 pesos, no matter how small, it’s a real profit. It’s even higher than a month’s interest in the bank for your P50,000 savings account.
You might say, wehhh? But yes, it’s true. I once had 50,000 on my savings account back then (yes back then :)) and I was happy to see it earned 20 pesos interest. Not bad, was it? It was passive income after all.
But actually, I’m just kind of ‘sour graping’. I’m just trying to make myself feel better with that supposedly higher profit that I earned had I not sold NIKL too soon… Oh greed, stay away from me!