Being bull in bear market has it’s own behavioural challenges . I too had few of them in 2008/09
1) Being Greedy on price :
I set buy price so conservative that the same is never reached . Second issue is the buy price is moving goal post . It keeps going down as market goes down … Again this often made me miss many a opportunities . This behaviour was prominent after being in bear market for atleast 6 months
2) Being Greedy on Volumes
Here I started making very high volume purchases during first phase of market fall leading to hitting position limits faster and not able to take advantage of future falls . This behaviour was prominent in first phase of bear market which had come after a long bull market . The desperation to buy was so much that I was ready to pay much higher price than warranted .
This can be only being reduced and not eliminated .
I found the best way to reduce the above behavioural bias was to set Buy and Sell price for stocks and volume you want own at start of year . - Keep 75% allocation of cash to be spent for these purchases
The rest 25% needs to spend when market are @ extreme - and you get opportunities in stocks which were not part of yearly plan or @ such a low price level that you feel allocation can be increased .
This worked for me in 2013 ( small & mid caps ) / 2016 ( for metals ) / 2017 ( IT & Pharma)
But the above strategy is still a big question in 2018 - Only in 2019 or 2020 I will be able to tell if it worked or not .
Till date assessment - first cut while the strategy seemed to have worked well in stocks which I had planned to buy and had price worked out @ start of the year … but on new stocks buys I got “greedy on volumes again” and bought them @ higher prices then I should have …