As a process of my complete paradigm shift, from long term investor to stock trading, I cut one of my losing positions. These losing positions were a product of uninformed buying decision.
I began cutting my losses starting with TKC Metals. I bought this stock, I think in early 2016 in anticipation of the "Build, Build, Build" program of the Philippine government. My conviction is that the construction sector, especially the Construction, Infra. & Allied Services subsector will boom. It was entirely my opinion.
Well, your personal opinion with the market will really cost you money in the long run as per Mark Minervini, author of the book "Think & Trade Like a Champion"
. My opinion really did cost me. Not able to examine thoroughly the fundamentals, I invested blindly thinking that the construction sector will move. From 2016 till us of this writing, my position never changes its color from red to green. The worst thing is I did cost averaging as the stock plummeted. Okay then, enough is enough. It's time to put ego aside. I made a mistake. I admit it. Cut my losses and then move on.
One mistake cleared. Let's move on to the next one soon.
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