Impulsive and stupid.

  • Can this type of person succeed on football? I have a portfolio worth 10k, it should be worth about 15 k but Iv butchered loads of trades with impatience and stupidity. Starting to do my head in.

  • Gazza did alright

  • @Advinculas-Index and Merson

  • I've had my moments too pal but as long as you learn from them you'll be fine. I've hit 100% ROI twice now (deposited more after each time) so now I'm back on 70% ROI. For every mistake I've made, there has been a lesson learned and it's always to do with patience.

    I'd class myself as a good investor but an average trader.

    Edit : forgot the point of this! I meant to say I'd have hit 100% for a third time already if not for poor decision making regards over trading and instant selling in a strop! 🙈😂😂

  • Whether we want to admit it or not, most of us will have succumbed to impatience, sold at what we thought was a great profit, only to see assets continue to rise and rise!!

    I had 100 TAAs that I bought for less than £2 and as soon as he smashed through £4.50 I thought, this is too good to be true, and sold the lot. 125% profit seemed good at the time but if I'd held on for another 6 months I'd have 500%! I'd love to buy back in now but at his current astronomical price I don't have the cash spare to make it worthwhile as I hate holding fewer than 50 shares in any player. Similar thing happened with Foden and Alphonso Davies, but one lives and learns.

  • I am impulsive by nature (ADHD) - I pretty much have to set my port up in a way that stops me being impulsive and saves me from my self!

  • @ScouseSte what’s the most you’ve lost like say on a weekend of butchering? 😂Sorry if that too personal. I lost about 800 last weekend instant selling and buying. like I think I’m not the worst trader although it’s quite obvious sometimes who to buy.

  • @Baydog that was the beauty of before the matching engine when instant sell turned off, I had greenwood at 5 pound and Neymar at 8 etc

  • @FI-Hornet-Joe yeah don’t have the cash for him either or greenwood and foden, if I could start again I’d just buy all the top premium guys and leave it be, I wouldn’t bother With cheaper players as my knowledge isn’t great

  • @FI-Hornet-Joe I don’t think there’s anything wrong with this. You may have missed out on more profit of course but that’s hindsight.

    You made fantastic profit from a trade and making that sort of ROI shows that you are picking up the right players.

    Obviously it’s annoying when you miss out on more money but look at the positives 🙂

  • @NewUser332703 I’m stuck with 500 jota at 2.82 I bought him at, I suppose not the worst hold

  • This post is deleted!

  • @Baydog what way you set it up to prevent it?

  • @NewUser332703 said in Impulsive and stupid.:

    @Baydog what way you set it up to prevent it?

    It took a bit of tinkering to find what worked - but without a doubt the key for me is covering a lot of players. I find that there are so many players that interest me, I am constantly looking who to get rid of so I can accommodate my latest interest... This often resulted in taking a hit.

    I found the only way to stop me trading like that is to just sign as many as I can rather than have a focused port. If I am too focused on a small number of players it becomes stressful and un-enjoyable. I find myself constantly checking what is happening with them etc..

    If I have loads of bases covered, I can just sit back and enjoy match days and don't really worry much about rises or falls. I am relying on market growth across the board, good picks, and small but regular div payouts to provide me with a most enjoyable way of making money!

  • @NewUser332703 said in Impulsive and stupid.:

    Can this type of person succeed on football? I have a portfolio worth 10k, it should be worth about 15 k but Iv butchered loads of trades with impatience and stupidity. Starting to do my head in.

    I really struggle with this and I think we probably all do to some degree. Best advice I can give is try keeping a record of each hold and list the reasons for purchase along with your target exit point/price. It’s really useful to look back on when you start getting an itchy trigger finger. If the reasons for purchase haven’t changed then the logical thing to do is hold.

    There’s always oppertunity cost whereby exiting a hold at a loss or below optimum value can allow you to make larger returns elsewhere but chasing rises is a high risk strategy and can be a vicious circle!

  • @NewUser332703 as a general rule of thumb, if your jumping on rising players- this is poor trading. Your following the herd, needing reassurance from other ppl to validate this player is good.
    Ideally you need to do the research first so the players are already in your port. A sharp rise is nearly always followed by a drop, or stagnation. Once in a while they keep climbing. But more often than not you’ll get burnt this way.
    However, when u see a player rising, like Foden and greenwood recently, it takes steely discipline not to instant sell and jump on that crazy train. It can be very tempting, and probably the number one reason ppl make a loss on the index- instant selling to jump on rising on players. Just say no! 😝

  • I need a big flashing sign that pops up when I go to sell that says 'its a 3 year bet dickhead'...😁

  • @FIChancer yeah, that’s certainly the positive way of looking at it! I’m still tempted to sell Szoboszlai every day as I’m well over 100% profit on him as well, but he’s got the potential to go the same way as Trent and Davies!!

Log in to reply