Wednesday, June 15, 2005

More Bad Trades

Here's another bad trade... I actually made money, but a bad trade really leaves it mark. Back in December, I got some shares in the Las Vegas Sands (LVS) IPO at $29. I sold it in May for ~ $35, right at the bottom! It's rebounded nicely to $38.50 today. I felt warm and fuzzy when it was $50, but when it dropped to $35 I just panicked. I still made ~20% on this trade, but the fact that I sold at the very bottom really hurts. I'll definitely learn from this trade.

Posted by Hello

3 Comments:

At June 16, 2005, Blogger Smarty said...

Been there, done that. I know how you feel, but one thing you should learn about trading is that you have to set your emotions aside. Emotions + Trading does not mix. If you panicked, that means you don't know enough and/or have enough confidence on the company.

 
At June 16, 2005, Blogger Smarty said...

Oh, my mistakes were on AMD and Intel. I sold too early last year, then it skyrocketed.

 
At June 16, 2005, Blogger Money Turtle said...

I agree... I just didn't have a strong conviction on Las Vegas Sands.

 

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