This is the last month of the year, and I have achieved my target for this year. However I failed to hit the stretch goal I set myself. This is because I made a few mistakes (fatal ones) during this year.
One of them was StarCruise(US$). Being exchanged in US dollar, it proved to affect me on several factors. Firstly, I lost out heavily on the exchange difference. At that point of time, value of Singapore dollar, relative to the US dollar is growing stronger. And selling at a loss is made worse with significant exchange rate differences.
Secondly, I wasn't disciplined enough to cut my losses. I went on the mentality of "hoping" it will recover. Its totally wrong. One must be firm and quick to admit one's bad trade. In the journey of trading, there will be wins and losses. Oh well, at least I manage to cover the losses with my other trades.
Reviewing myself, I realise that I find it difficult for me to ride on my earnings. Many a time, I fail to hold on to it longer (Olam, Cosco Corp). I always tell myself to ride on profits but I always fail to do that. Next year, one of my resolutions is to be firm in my judgement. Especially when it comes to riding of profits.
Anyway, this month, I will try to consolidate all my shares after active trading for the past few days. I will be holding on to SMRT and SingPost till mid January. The status of SingPost will be dependant on its dividend issue in January. SMRT is my pick for the long term, so I have no qualms about keeping it aside.
I hope to get CoscoCorp as well. This is an equity that is rising and it is a good opportunity to practise how to "ride on the profits".
Anyway, its nice to see comments, and I really appreciate them as it helps me improve due to their insights.
Year end is coming and I wish all of you a Merry Merry Christmas :)Labels: december, trading idea |
