Personal capital: Daily finance monitor - My lesson of speculation

July 16, 2020

Introduction

It is so exciting to learn the mistake I made on July 15, 2020. Let me write down the story.

Personal capital

I  have opportunity on July 15, 2020 to purchase 1000 share of SABR, what I did is to purchase only 50 shares. The return is over 13.46%.

I had 500 shares and my loss is over $600 dollars.

Actionable Items

I should evaluate the risk on July 16, 2020. It was best opportunity for me to invest on SABR stock at price of 7.50, I should use available cash $9000 dollars to purchase SABR stock. It only takes one day to have over 10% gains, and then I can sell all of those shares of SABR stock.

It does not help if I like to purchase more shares. If I sell ENBL shares, the fund will be available in one business day at least.

So it is important for me to prepare $10,000 dollars in Key largo IRA account. If there is chance for me to invest short term, the fund can be available right away. Otherwise, I should make a 2 or 3 day plan, sell ENBL stocks and then plan to invest a short term.