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Hi

my advice for what it is worth after I would say 2 years serious trading (sop still a newbie):

I have multiple portfolios:

One is a "system" :not doing great but not loosing money, under development with known and controlled risk and adjustment as i benefit from my mistakes a learning process

and a speculative one where i usually use my "gutfeel"

it usually works like that on the gufeel one and you will recognised where SDL stands:

     this share has fallen so much it is ridiculous,

     I see a (medium/short term) up market and the long term should be good,

     basic valuation is not repulsing,

     it has just reached new lows

This is a sure winner so i buy!

and guess what, it is in a huge majority of case of lost money

gain if any are minimal in %, and loss are substantial when I finally get out

It is a never ending loosing stream

It is very hard to control the urge when it sounds so obviously undervalued..yet...

so my advice, clearly separate these gutfeel buys from the rest so that the $ figures will be clear and you learnt from your mistakes,

if you have limited $, do not even think  about it: the worst which might happen is that you might actually have a lucky win in the first go, get cocky and then spend 5 years loosing money: this can be a gambling like addiction.

Anyone else experienced the same path?

I view the market as a gambling place where you can, if managed properly:

increase your odds, and can control your losses (stop loss /options/etc)

as a result in a 50-50 bet you should be able to make some $ (but then taxes, brokerage, etc enters in play)

I also like the fact that the ATO while sharing my profit also share my losses so this can allow you to be a bit more daring in cases.

hope it helps