this year, and i can't believe tis only 2 months!... has been a complete rollercoaster. i wanted to know your thoughts. a lot of people on fintwit are just telling you to stay calm, not sell, that you are playing the long game and shouldn't worry about pullbacks, etc... i can't help to think that yes, i understand, but i had personally a hard time seeing those nasty pullbacks. why don't people like to admit that it's ok to feel lost... and then reassure you that they've also been through moments of insecurity, and that's ok to make mistakes etc... i really like your honesty btw, and can't wait to hear from you
Thanks. The most important thing is to have an investing philosophy that fits your personality and to accept the tradeoff involved in what you choose. Controlling your emotions is not easy - I suspect a large part of it is genetic and linked to how we've grown up.
It's ok to feel a little cautious or anxious about the near term, but there are levels to it. Certainly, if things are affecting your sleep, it's a sign that something isn't quite right about your strategy... It's worth taking the time to write one out that is a good fit for you. What works for one person is a terrible idea for another - we are all wired differently. So much depends on how you've chosen to invest, what's at stake, your financial situation, etc...The single most useful thing for me was to write out my philosophy and use it as a guide.
Investing is hard. There is no doubt about it. The best thing for me is to try to find companies I have high confidence in over the long term, and to accept that I can't control the short term.
thanks for the tip. i must say, i'm very honest with myself and enjoy taking stock of how i react, etc... i like to think i have a growth mindset, and will most definitely try out writing down my investing principles.
i think my note was not so much about how i personally felt (some nervousness of course but i am very aware of what i'm into with investing, and by no means losing sleep over it, mostly the opposite and craving for the learning) but moreso the impression that people posting online are only telling half the truth. i personally think it's more reassuring to see others going through periods of doubt, and build resilience around that, than giving the sense of superheroes that endure all market situations and have such cool that it makes you feel like an idiot :) that's also why i felt compelled to write you a comment - as i truly appreciate the fact that you are down to earth and sharing your journey - without trying to make it look better than what it really is. Thanks for your candor
T212 is a good app to get started with. They are based in Bulgaria (I'm not sure the effect on FSCS post-Brexit and don't need the headache of unusual scenarios) and have a limited selection of stocks available vs the larger brokers, and make money on the spreads which might affect the chances of a limit order actually hitting.
I am personally wary of free trade platforms. Paradoxically, friction is actually often a positive benefit with investing. I'm happy to pay a reasonable fee for good service, but would like the major UK ISA providers to be more competitive on FX in particular.
I am with trading212 and can buy most growth names. Although limited small caps. I really like it. And based on my recent moving around saved me a bunch of transactions charges. We need to petition government to allow us to buy ads in an ISA
Super write up !
Thanks Irnest!
this year, and i can't believe tis only 2 months!... has been a complete rollercoaster. i wanted to know your thoughts. a lot of people on fintwit are just telling you to stay calm, not sell, that you are playing the long game and shouldn't worry about pullbacks, etc... i can't help to think that yes, i understand, but i had personally a hard time seeing those nasty pullbacks. why don't people like to admit that it's ok to feel lost... and then reassure you that they've also been through moments of insecurity, and that's ok to make mistakes etc... i really like your honesty btw, and can't wait to hear from you
Thanks. The most important thing is to have an investing philosophy that fits your personality and to accept the tradeoff involved in what you choose. Controlling your emotions is not easy - I suspect a large part of it is genetic and linked to how we've grown up.
It's ok to feel a little cautious or anxious about the near term, but there are levels to it. Certainly, if things are affecting your sleep, it's a sign that something isn't quite right about your strategy... It's worth taking the time to write one out that is a good fit for you. What works for one person is a terrible idea for another - we are all wired differently. So much depends on how you've chosen to invest, what's at stake, your financial situation, etc...The single most useful thing for me was to write out my philosophy and use it as a guide.
Investing is hard. There is no doubt about it. The best thing for me is to try to find companies I have high confidence in over the long term, and to accept that I can't control the short term.
thanks for the tip. i must say, i'm very honest with myself and enjoy taking stock of how i react, etc... i like to think i have a growth mindset, and will most definitely try out writing down my investing principles.
i think my note was not so much about how i personally felt (some nervousness of course but i am very aware of what i'm into with investing, and by no means losing sleep over it, mostly the opposite and craving for the learning) but moreso the impression that people posting online are only telling half the truth. i personally think it's more reassuring to see others going through periods of doubt, and build resilience around that, than giving the sense of superheroes that endure all market situations and have such cool that it makes you feel like an idiot :) that's also why i felt compelled to write you a comment - as i truly appreciate the fact that you are down to earth and sharing your journey - without trying to make it look better than what it really is. Thanks for your candor
Any reason you don’t use Trading 212? Don’t believe they have any FX charges?
T212 is a good app to get started with. They are based in Bulgaria (I'm not sure the effect on FSCS post-Brexit and don't need the headache of unusual scenarios) and have a limited selection of stocks available vs the larger brokers, and make money on the spreads which might affect the chances of a limit order actually hitting.
I am personally wary of free trade platforms. Paradoxically, friction is actually often a positive benefit with investing. I'm happy to pay a reasonable fee for good service, but would like the major UK ISA providers to be more competitive on FX in particular.
I am with trading212 and can buy most growth names. Although limited small caps. I really like it. And based on my recent moving around saved me a bunch of transactions charges. We need to petition government to allow us to buy ads in an ISA