Think Positive – Part I
What a great day to wake up in the morning, celebrating my husband’s birthday and morning play time with Macey. Not only that, my portfolio looks better today. From 25% to 18% loss last week, now it’s down to 12%. Wow! I haven’t seen this in a while. I’m overwhelmed with the movement. It looks strange to me but I like it. Who isn’t?
My initial goal was to be an intra-day trader – to buy and sell a stock within the day with a profit. I did that a couple of times. But trading days aren’t always the same. There are days when I’m lucky that I get good returns. But there are also days when the stocks go down suddenly and stayed down for a couple of days, weeks, or even months. And that’s what happened to some of my stocks in my portfolio. I bought a stock when it was volatile. Then the market went down. It continued to move down until it stayed there for a while.
MA (Manila Mining Corporation) is one of the stocks that I have on my portfolio. 50% of my portfolio comes from this stock. I bought this stock when I was on my first week in trading. And even if had a little background in stock market, I wasn’t confident with what I was doing. As I was watching the movement of its price, I thought that it was a good buy. So I bought it using half of my total trading capital. What a risk-taker, am I not?
Few days later, the price went up and got a paper gain of about 5-10%. I was very excited to sell it but it seemed like the stock was going to move even higher. So I held it for the time being. Then I went to the province with my family for our 2-week vacation. When I got back, whew! 25% paper loss!
It’s been down since then. So the initial goal of being a short-term trader suddenly became a long-term investor. I was stuck. I had no choice, unless it’s okay for me to sell this stock at a loss. So I held it for the meantime. I even added more when they offered stocks rights. I guess losing is really a part of learning.
This week, this stock started to move again. It’s crawling but I’m positive that’s it’s getting there, slowly but surely. So I’m holding on to this stock for now. I will just consider this as a long term investment. But if it reaches maybe around 20% gain, then that might be the time that I will finally let go of this.
Click to read Think Positive – Part II
Image Source: http://cipworldwide.org/wp-content/uploads/2012/12/think-positive.jpg