Case study: Why I fail to make over $20,000 Canada dollars gains in my TFSA account?

May 23, 2020

Introduction

It is exciting journey to be a long term investor, went through market swing again in 2020. I was so nervous and went through so many emotions. One time I remembered to tell me inside my head, do not do anything not taught in my research, just pretend to know nothing. Play by rules learned. I like to write a short report called why I fail to make over $20,000 Canada dollars gains in my TFSA account. 

Case study 

What if I can make over $20,000 Canada dollars gains in my TFSA account through market swings from SPX 3300 to 2200 and then 2900. I came cross one chance to purchase Canada oil stocks on March 27, 2020. I need to learn the art to design the project, how high my target is to achieve in gains, and what risk I have. 

Here are highlights I can look into later. I do believe that I should be confident to come out the plan to make $20,000 dollars, and then go for the chance. 

1. I did research those big companies with big losses, OVV.TO stock had loss over 90%;
2. I was more reactive, thankfulness to my VFV.TO ETF and VDU.TO ETF $5000 recover in 3 business day;
3. I just naively like to play $2000 dollars to invest from those $5,000 dollar recover.
4. I should allow myself to be a creative thinker; explore more carefully, how to make money from the bet;
5. I can live with $10000 dollar less in asset, but it is exciting to see that I can grasp the opportunity to double or triple the money in short time range. Why not take a risk? OVV.TO stock has over 90% loss.
6. I must estimate the possible return and design the purchase plan.
7. I always have some emotional problems. I like to share my progress on WeChat groups, but I should understand that it is my business. It is my creative thinking to help me create wealth. There is nothing wrong with it. 
8. I need to build a ritual to take it more seriously when I make stock purchases.  

I should take a loss of $1000 dollars to sell VAB.TO bond position, and then purchase OVV.TO stocks using those $10,000 dollars. Just think like an institutional investor. Find all the money I can find to make the purchase. 

Follow up 

June 6, 2020
Do not look back. There is another 100% return from May 23 to June 6, 2020. The rise is much faster since large institutions invested in huge shares. I still have the link, but I stopped searching daily for what those institutions are.

Also, I need to allow myself to take some risk, do not think about stock with 90% loss will go down. Instead, I find another ten stocks like OVV also went up 100% in the first month; diversify my investment into four or five of those stocks.