Beginner's mistakes....



  • so I started my FI journey two weeks ago (26/09 to be exact), having seen a few ads and getting intrigued with the platform.

    I'm sure a lot will think this is a crazy time to get involved at all as a newbie, but after signing up thinking it looked fun, I then started to see a bigger opportunity. Have since deposited 10 times my initial -- small -- deposit.

    But I don't want to turn this into another post about whether FI is doomed, or whether it's the right time to buy-buy-buy.

    I just wanted to list a bunch of mistakes I've made as a noob, partly just for my own peace of mind as putting them out there will probably help me accept them a bit more, and also because I'm sure a lot of others might make the same ones.

    • not researching the platform before I deposited. Like I said, I saw an ad, thought it looked fun, and deposited (nothing major, but enough to play around). After doing so, I THEN looked at the forums, and the twitter, and a bunch of stuff that was people freaking out about the changes and the period FI was going through. By that point, I was like "well I deposited anyway, might as well still give it a go." Had I actually researched all this first and seen what was going on, I might not have signed up at all and waited things out a bit to see what happened.

    • buying too many players. I hadn't really fully understood what determined prices, and what moved them, and I was buying a lot of players in a hurry. Spread way too thin imo, and it was a pain accepting that I'd made a lot of mistakes in buying people I thought I saw an opportunity in, and then trying to ditch them at a loss to put that money into a more focused, trimmed down, portfolio once I had got more of a grasp of how to play this. I should note, I'm not pretending to fully understand it now either, it's only been two weeks, and especially with what's going on now. it'll take much longer than that I'm sure. But I literally just gave money away by rushing into buying without setting proper criteria and researching trades properly.

    • obsessing over in-play dividends. As a newbie, especially at a time where I'm not going to be getting much immediate capital appreciation, if any at all, I was initially obsessed with chasing IPDs. "Ok, so today there are four qualifying matches being played, I need to find like three players that are playing in them and buy them immediately so I don't miss out.". Doing that every day saw my portfolio become a mess quickly. Especially as I hadn't really given any thought about what to do with these players once the 30 days were up and they stopped being eligible for IPDs.

    • tying in with all the above, just general failure to have any sort of plan, both in terms of each individual trade, and in terms of a more overall feel to my portfolio and what I was trying to achieve. I kept getting distracted by cool shiny things. "ooo, I just saw some vague transfer rumour for this player, I must go buy him" without any sort of deeper thought on what that transfer -- if it even happens -- might mean for his ability to bring in dividends. Or, "oh look, Wolves are playing West Ham then Fulham, quick, buy buy buy Raul Jimenez because how could he not score a bunch against those two?" with no thought for what I'd do with him long term if he didn't (or even if he did).

    there's probably a load more, including a general sense of "right, tear it up, let's sell a bunch of these guys for losses and start over" a couple of times in my first week, which again was just giving money away. But those are the main things I've learned from so far, and thought I'd share.



  • I like this post.

    Fair play for coming on here and admitting mistakes you've made, i'm sure all of us have made similar and new users may be making them as we speak.

    Also, a breathe of fresh air in that you talk about making huge deposits. New users have been coming on here and trashing the platform, saying it's doomed with no viable explanation whatsoever.



  • @LeanneC

    Welcome to the forum and a really nice first entry.

    We all made exactly the same mistakes, in hindsight you will add selling players to early that’s for sure.

    It’s an interesting time for investors/gamblers new and old; work out how you want to value your holds and then make your picks. IPDs shouldn’t be under estimated but I only factor them when buying a new hold or topping up to add extra value to what I already think they’ll return.

    The main driving factor for me currently is PB dividends, with an eye on cap app; this will shift once the market is moving in the right direction again; but with no more money to put in I want to earn dividends to reinvest.



  • @LeanneC I started September last year and after a small deposit then poured money into the platform as the birthday bonus was on. I didn't really know what I was doing but prices just kept rising, it seemed too easy. There was the inevitable drop once everyone collected their bonus and I then realised I'd bought some dross. I can see stage two of the bonus period having ups and downs for this reason too (loads buying in to get the bonus, others cashing in). So with that comes opportunity! October could be a good month for some

    Everyone makes very similar mistakes early on, you'll also probably make plenty more! But when you start to see when the best times to buy and the best times to sell you've got a better chance of making some good profits



  • I think even 'experienced' traders have experienced a lot of these 'mistakes' so we can all relate to them.

    I compare 'now' and 'then' a lot but I do think by getting in when i did i benefited a lot from the sites early growth a long with share splits etc, so by having a portfolio of 'good players' it seemed enough for everything else to look after itself?

    What I ask 'now' is when investing in a player, do I see 'short term' growth... Ie is a player expected later in the month to receive a first international call up? Is the player earmarked for a potential transfer? Do they have a run of games where they are likely to score goals?

    Looking now for example at Jadon Sancho and thinking... what a great time to go back in for him after a £5+ drop in price?

    The market has generally tumbled but savvy investors will see this as 'opportunity' to invest back in... but I would only do that 'now' on the basis of 'who' is going to top pack in media dividends over the next couple of weeks (as we are mostly without games) and after, who will scoring the goals to grab the headlines when the season kicks on again?

    Maybe a good time to 'wait' depending on the type of player you invest in?



  • @LeanneC I was in your shoes not so long ago and always considered writing a post like this as I thought it would be helpful for other newbies, so good on you for doing it. I bet so many new people make the same daft mistakes and with out passing that experience on, it'll keep happening.

    I joined in the summer, and bought way too many people based on potential transfers, not wanting to keep them long term. Now I'll only buy a player with a potential move if I'm happy to perhaps be stuck with that player after the move (i.e. the value doesn't increase or even decreases).

    Good luck and use the forum as much as poss, there are some top guys on here who have helped me a lot!



  • Welcome. Great first contribution to the forum. As the others say, we all make mistakes on here and the key thing is to learn from them. And find me a trader who hasn't made a mistake and I'll show you a liar...



  • @LeanneC said in Beginner's mistakes....:

    so I started my FI journey two weeks ago (26/09 to be exact), having seen a few ads and getting intrigued with the platform.
    I'm sure a lot will think this is a crazy time to get involved at all as a newbie, but after signing up thinking it looked fun, I then started to see a bigger opportunity. Have since deposited 10 times my initial -- small -- deposit.
    But I don't want to turn this into another post about whether FI is doomed, or whether it's the right time to buy-buy-buy.

    this is a very insightful post. im kind of jealous i have to admit because i came in about 7 months ago , did loads of research and now those 'very good' players are so much cheaper than when i bought. in all seriousness though the index is a great place to learn about our 'human' failings



  • @LeanneC it probably took me between 6 and 9 months to really get to grips with the index. I was over trading and constantly caught up in FOMO. All those mistakes make you better but i think the reason i took so long to learn was that the index was constantly climbing so even with all the mistakes i was making i still made money which made it hard for me to see what i was doing wrong.

    Anyone joining recently has been forced to learn the hard way but the other side to that is you are being forced to learn faster.

    Welcome to the forum 👍



  • @LeanneC You've already contributed more to the forum than you could have thought possible when beginning your post.

    Welcome to the forum and good luck with your investment choices.



  • Even now I still get reigned in to chasing IPDs sometimes when I shouldn’t! Having short and long term plans is essential but they need to be flexible as well. Ideally, always have more than one reason for why you are buying a player.



  • Good post. I did the same in that I initially invested a small amount and just tried a few things to see what happens at a small scale. If I lost a few pounds on something, it didn't really matter too much because I was learning.

    After a few months, I felt confident in some of my choices and then I began investing more.

    You picked an unlucky time with so many changes, so some of the lessons that you learn now may not be relevant in the future... but with so many changes, some of the lessons that seasoned traders have learnt may also be no longer relevant.

    Gotta keep on top of things and keep learning and you should do well.



  • @LeanneC

    We've all been there but best to see all these "mistakes" as your apprenticeship, the key is to learn the lessons & attempt to avoid making the same ones repeatedly. Often the hardest lesson to understand, as a newbie, is that "to do nothing" can be the best course of action. Making mistakes & losing on some trades is far better whilst you only have a relatively small amount of exposure, as those poor choices only get amplified as your portfolio grows.

    There are plenty of friendly & helpful voices on the forum (& they do try to self regulate any outliers!) so please continue your contributions as we all benefit from the pooled knowledge & experiences.



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  • Great post, feels refreshing and very relatable!!

    All I can say is as the others have said, we've all been there.

    I joined last September and I still chased IPD's in the 5x bonus and got royally screwed over by not getting out of players fast enough.

    Just do what feels right to you, and it is okay to set aside a certain amount and play around to see what's right for you, even after being on here for however many months. It took me about 10 months to figure out how to play this game.



  • thank you all for the replies and advice :)



  • Welcome to the forum @LeanneC . Its a good place to get some valuable information. Much much better than most social medias. There is still a few clowns 🤡 about on here but if you contribute enough you will soon see who to trust and who's advice to take note of.
    Hope you enjoy FI!



  • @Dan-w said in Beginner's mistakes....:

    Welcome to the forum @LeanneC . Its a good place to get some valuable information. Much much better than most social medias. There is still a few clowns 🤡 about on here but if you contribute enough you will soon see who to trust and who's advice to take note of.
    Hope you enjoy FI!

    ATITH



  • I've been here just long enough to stop making beginner's mistakes. I now just make mistakes.
    They're the same mistakes, just with a bigger head-slap when I realise I've gone and done it again.


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