One, I have no huge capital yet. What I have is a very small sum which I intend to grow overtime.
Two, my plan is long term.
I have to be reminded of the two things mentioned above. Always. No one can do the slap for me but myself. Today the PSE market is down though opened strongly and positively on the news that the US Fed decided to taper slightly on its bond-buying program (QE).
I observed that, as a beginner, I got excited of what I saw on the PSE index. The direction of the index chart was upward and breached its immediate resistance zone. I thought it would be a sustained ride already. So I bought stocks with too much anticipation that I might take huge profit if the rally continue to be the same until the first wee of January 2013.
But I was fooled. PSE faltered. It plunged back to below 6000 territory at the end of the trading day. The stocks I bought depreciated. I felt down and melted.
However, as I said, someone must slap me. I did it to myself. I realized that I am not a trader. I am an investor. I do long term stocks.
So, if hell happened today, let it be. I don't care. This is just one day. My plan is not one day. My program is a decade long. As long as I don't sell my stocks, the loss reflected is not yet a material loss. It is just a paper loss.
The lower the price, the better. Red is green! All I have to do is buy stocks at constant schedule and do the peso cost averaging.
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