Originally published by Chamber of Merchants
"The Patron" is a new series by Chamber of Merchants that follows a beginner investor trying to turn $10,000 in to $20,000 in less than a year. Click here to read The Patron's first post.
I can still remember the first bicycle my parents bought me as a young child. It was a tiny BMX, but to a young kid, it was the shiniest, coolest thing ever!
It took me less than 3 minutes to fall off that cool bike, and my dad quickly attached training wheels to help and assist me while I learnt to ride.
Many years later, just outside Melbourne on a snowy mountain, I was wearing my brand new fashionable snow gear! This was my first snow trip & I strapped the new board on to my boots and jumped onto the ski lift! I had a smile on my face, thinking how wicked I would look snowboarding with my new beanie and goggles. Much like the new bike, I wiped out as soon as I reached the top and tried to stand up. I continued to wipe out that whole day…I then signed up for beginner lessons.
“Hind sight is always 20/20…”
I reflect on my lessons in the past.
I believe that I now stand in a similar position today, facing the market and having a painful lesson.
It has been less than 2 months since I entered the ASX, and not much to show for it. I still have very little knowledge and experience, especially when compared to seasoned traders.
As a tiny kid, wheelies were cool and resulted in a sore bum, but my dad helped me to learn. The young snowboarder, trying to be a show off, but having to go through beginner lessons like everyone else.
These were painful and embarrassing lessons, and I’m starting to notice another one on its way, as my account dropped by 25% last week into the red.
I thought I had timed my entry quite well, I thought the share prices where excellent at the time. It seems I mistimed the “low” entry point by 6 weeks or so.
Hind sight is always 20/20, so I’ll not begin beating myself up over my current position. I’m going to take this lesson as a fall from my bike, or a wipeout on my snowboard…painful, but not permanent!
I will not let my objectives and goals become clouded by my emotion.
I am going to seek guidance and continue educating myself, while remaining positive & hopeful.
I’ll have to mention one day how I learnt to drive…it involves a tree.