A Painful Lesson

I will not forget this painful lesson in my lifetime, as I had brake the rules in investing which is-gambling.

I sold all my shares which are profitable in the mid July to prepare for buying the IPO of Heng Huat.

It was unfortunate that I did not get the draw from the IPO, but I'm still hopeful that I keep on telling myself that I will buy on the listed day - 25/7/2014.

In the morning, I received a call from my girlfriend's dad telling me that the opening price is RM0.60.

I think my brain was not functioning that I forgot that RM 0.60 is nearly 30%+ from the initial price offering of RM0.45.

I placed an order of 32000 shares with price RM0.615.

In just 5 minutes, the share price dropped to RM 0.55, I was so scared that I sold of my shares at the lowest price ( I bought at the 2nd highest price and sold at the lowest price)

It was not the end of my stupidity, the price was fluctuated to RM 0.595 after I sold. I was so regret and I bought it again at RM 0.595. At the same day, I lost 3k ! It was a hard work to be profitable in the market, you have to read blogs, books, announcements, annual report, quarter report and so on. But if you have a wrong mindset, you will just end out like me. I will not try this again in my lifetime.

I'm now aiming to do a long-term investor rather than short-term. Although I am young enough to take the risk, but the experience told me that long-term invest will still is the most profitable ways.

My current portfolio is left with construction and properties stock:
IOIPG
MITRA

Both these counters were deeply undervalue and have a lots of lands.