Decided to start this up again to keep track of my mistakes. I figure that if I write them down, I'll be less likely to make them again.
My first mistake since I started investing was letting my own personal hopes get in the way of my decision making. I lost around $1500. Learned a lot from that first mistake. This was quite a while ago but I still remember some of the lessons I learned from this mistake. One of those things is to check the details about the company in regards to their fundamentals, finances, and future plans.
My second mistake was a bit more recent. I let my fears get to me. I did my due diligence on Blackberry (BBRY, BB.TO) so I know that they're set for at least some growth. I also know that it's going to happen as I can actually see Blackberry trading at $30-40 a share in 3-5 years. But I let my fear get to me from what people were saying about the Apple/IBM alliance and sold my shares this morning. I bought them back again but I lost about $350 along the way. Not as much as my first but I still think of this as a significant loss.
I find that I need more confidence in myself after I've finished my analysis. Especially since I'm able to see how things are going to work once Blackberry starts to release some of their projects that they're currently working on. It's also clear that Blackberry is no longer losing money like it had been before John Chen took the reins. So their bases are fairly covered at this moment.
Next is the "Internet of Things". What this does is pretty much connect a lot of things together to help improve our lifestyles for the better. Which is part of the reason for Blackberry's partnership with Nanohealth. This next bit is actually an assumption on my part but I see Blackberry doing more than just improving health with the "Internet of Things". I can see them connecting everything together. Like making sure you're not drunk when you get into your car. Or monitoring your heart rate when you're out for a jog (rumour says that iWatch will do this so it's not an impossibility). Or calling for emergency services if you get hurt badly enough.
Still...Blackberry is only set to go up. So the only reason for me to sell them this morning was due to fear. It wasn't cutting my losses as I'm still up $2000 for the year from some profit-taking earlier. It was hiding due to fears instilled by people that only see Blackberry as a maker of phones. Well...I hope I won't be doing that again. And I expect Blackberry to bounce back and go above $15 US a share in the next few months.