Impulsive decision making: Sept 9, 2020 Sale of ENB.TO, PPL.TO, TRP.TO

 Sept. 13, 2020

Introduction

As a single, there is biggest weakness in decision making. I do not have to ask any one's opinion, I make decision in split second. Do I write down 10 reasons to sell ENB.TO, PPL.TO, TRP.TO on Sept. 9, 2020? I did not. I chose to purchase more volatile oil stocks instead, HSE.TO, CVE.TO, IMO.TO, SU.TO. As a beginner, I also need to review my decision making process. Impulsive decision making in my last 50 years life. What should I work on this problem?

Decision making - at least three options, choose best one, safest one

I have to learn how to consult myself better, one way is to write down my thought process. And I will read again, and think again. I will find out what to do next time. 

This decision making at least costed me another 6% loss from Sept. 9 to Sept 13, 2020. I did not analyze the market and make decision to stop loss. I just chose what I like to do, and then I just did it. 

Stock market is my school

I have to learn how to make decision again. So I can make a better living again. 

I chose to purchase more volatile stocks - HSE.TO, CVE.TO, IMO.TO, SU.TO

I am a gambler, based on my decision on purchase on Sept. 8, 2020. I did not think what if the market has another big selloff, should I stop loss?

IMO.TO stock purchase on Sept. 9, 2020

Actionable Items

At least I should come out three ideas, and then write down, compare to each other. Do not bet on more than $30,000 dollars on one market sector, similar stocks, no stop loss. 

I should not take over $3000 dollars/ day. I should give it a try, if it does not work, then take loss, stop loss, sell them. The cost of commission is less than $10 dollars for 1000 share SU.TO stock. 

Think about SU.TO price, I should plan to invest on long term. Next two quarters, or one year at least. 

9:36 PM

I should figure out why those stocks go down. What are the reasons? Market risk, how I should learn and how many ways I should avoid losses, risk management.