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I think I managed all the usual bad moves.
Bought land at the peak. – Sold at a loss.
Bought shares during the 70's mining boom here in Australia – Sold at a loss. Didn't go near shares for many years after that, partly because I didn't have any spare cash. What I did have spare was better invested in the local pub. Even had some asbestos stock for a while; now there's a mistake in hindsight.
Managed to repeat that, getting swept along with the crowd during last years tech rally/crash cycle, luckily for only a minimal loss this time, so it is possible to learn I guess.
Generally buying too high in a stock cycle and not selling when the indicators start going down, hoping for a reversal to get the money back seems to be a problem that's pretty common. If it's been going up for a while and you start thinking of buying in on the trend, it's probably too late and you'll hit (and miss) the peak. You have to have a profit target and a stop loss point and stick to them.
I think one problem many of us have is emotionally switching between being traders and investors, letting the stock drive us.
Retired fools should be investors first and if the mood suits, be a disciplined trader second.
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