I have been asked to share my own investing mistakes. I began this process by recounting my own investing history year by year, and compiling a list that grew shockingly long as the minutes ticked by. It was ego battery at it’s best. The selection process for the top 5 was not as hard as I thought it would be. My biggest mistakes are also the ones I learned the most from and are what guide many of my decisions I make now.
Being a trader, many readers might think the list I am about to reveal to you all will be a big list of trading disasters. If you fall into that category, you will be surprised. As with many people, it is not the actual investment or particular trade that causes the anguish and unfortunate outcome, it is the lack of knowledge, lack of discipline, and other activities surrounding the investment portfolio decisions that have caused most of my regrettable mistakes. The losses I have taken in my own trading account have rarely been due to out of control losing trades. I have been very good at setting appropriate stop losses and I have entry and exit parameters well-defined before I get into a position. Now that I have stuffed in at least one compliment about myself in this piece, I feel more secure about revealing to you all my biggest investing mistakes and regrets.
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