Why didn’t I hold it?

8 Jul

Impulsive sells back in June 29th to protect myself is definitely giving a run for my money!  I should have sold FSYS instead of AGU during that slump.  Now AGU is soaring while FSYS is slipping in the downward trend.  Even ECA is making a comeback. 

ANALYSIS of my PROBLEM
– Tend to sell stocks that have potential to make a comeback thus losing out on potential profits
– Tend to hold stocks that have no potential to make a comeback thus stuck with a big loss
– Commissions are $19.99 per trade at Itrade hindering my ability to capture gains or cut losses

SOLUTIONS to my PROBLEM
+ Do not let emotions play a part in making rash decisions
+ Once I buy a stock and if it dips below my buy in price, hold for one month and re-analyze it at a later stage to see if there are any improvements or not
+ Take profits when the stock has hit its peak; Buy in when stock is about to break out – Use Questrade for pro-active trading

PLAN of ACTION
1)  Itrade- No more buy/sell to this account anymore
2) Questrade Cash Margin- Profit whenever I can
3) Questrade TFSA-  Get rid of the losers; Buy a big name
4) Questrade RSP-  Sell when the opportunity arises

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