10/02/2006

Missed Opportunities


You have to capitalize on every opportunity in life. Think of all the opportunities we miss out on in life because we act too slowly or merely never see the opportunity. I just missed out on a huge opportunity in the stock market. I have been trading shares online through e*trade for about a year now, and have made some fairly good money. But just a few days ago I came up with the idea to short sell a company that I though was ready for some big losses. For those who don't know, the basic idea of short selling is you hope that the stock price goes down rather than going up which is what you usually want from a stock. There's a lot more to it but that's basically the idea. So I came up with the idea to short sell this company, but decided I would ask my uncle how he felt about it since he is very good with the stock market. As I was waiting for an email reply, the company's stock price dropped by over 60%! Too Late! I was so mad, to think of all the money I could have made from that. One thing I'm having trouble with is letting it go, it's like a bad taste in my mouth that won't go away. I realize I have to let it go and move on, hopefully finding more opportunities just like it, and actually acting on them! What I learned: sometimes it is better to go off of your own information rather than consulting someone else. Next time I'm just going to go with it, instead of looking for guidance from someone else. Hopefully I will better capitalize on my opportunities in the future