When I established my Investment Process back in May 2012 I decided to trade around my core positions. I recently added to my Canadian Oil Sands position but when it quickly rose over 12% I failed to sell some of my position. The stock has since fallen.
Why did I not sell? Well, because the 12% rise was so fast that it seemed silly to sell so quickly. Let me rephrase that: I made a profit so quickly that I failed to lock it in. This is foolish and is an example of letting my emotions get in the way of my strategy. This is a mistake that I shall not repeat.
I am recording this as a bad call even though it was not a trade. Sometimes failure to trade can be just as bad as a bad trade.