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First lesson on Investment
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decipher
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26-Mar-2007 11:20
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To add on to all the good comments.... "the past doesn not equals to the future" Money can be made from the market. Do not let anyone tell you it cannot be done. If you want it, fight for it! Singaporegal made a good point! If you know what are the mistakes and understand them, learn to avoid them, you have no choice but to only do the right things in trading and that equates to winning! Huat arh! :D |
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singaporegal
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26-Mar-2007 11:08
Yells: "Female TA nut" |
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Hi burntbadbad, Good to hear that you're trying hard. Take whatever posting in the forum with a pinch of salt and rely on your own analysis. Something else very important - keep track of what you buy and write down WHY you buy them. That is because if you make a mistake, you can learn from it later on. |
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iPunter
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26-Mar-2007 09:13
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I agree it's good for you to change your nick... perhaps to something more neutral... or something that's neither too pretentious nor 'unrealistic'... Maybe consider these... 1)dontgetburnt 2)stockgal 3)playsmallsmall |
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burntbadbad
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26-Mar-2007 08:56
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Good am geojam, ipunter, singaporegal, fortunegal, lewsh88, livermore, elfinchilde Thank you for all your invaluable advice. I bought Wilmar at 2.4 on 15/3 and sold at 2.36 at 16/3 after lunch at its lowest just before it went up at closing during matching. Sigh...Now I trade one stock at a time and refer to dbsvickers chart before I buy. I used to rely alot on info from forum and then refer to the intraday prices to confirm it before buying but it still fail me terribly. I also trade in bet 10-30 lots so I can cash out with just a few cents price rise. I picked up alot of new ideas from this thread and hopefully in near future can change my nick to one that fortunegal has suggested for me-winbigbig :-) I'm not greedy, just some pocket $$ till I get a job, enough already. Expensive school fees but I 'meet 'and make some nice friends here. I intend to learn as much as possible on investing. Will continue to read the books first. Will go get the book recommended by ipunter after I finish Larry Williams. Hope this will be a great week for everyone, work and trading! So much to do and so little time. Now gotto go play with my baby while everyone's at work. :-) Agree with lewsh88, they grow up so fast. |
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iPunter
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26-Mar-2007 08:26
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Very good guidance from lewsh88 and Livermore... :) |
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Livermore
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25-Mar-2007 22:21
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Hi Burntbadbad, I also got "burnt" before. I went through the "high" and the "low" of the stock market. To get "burnt" a bit is ok. To get too badly "burnt" and recovery is hard and it is very demoralising. My views are different from some of the comments here : 1. I know "nuts" about TA. To me I am keeping investment simple. I try to find good a stock and accumulate from its consolidation phase. After it breaks out, I will buy a bit more than after a range, I don't buy any more and leave it for long term. 2. It is ok to buy penny stocks. Give stocks a chance. Every company has to start from somewhere. Venture is now a blue chip but it used to be a penny stock. You cannot make much buying blue chips unless you have lots of cash. 3. Yes, don't buy too many stocks. I only have 2 stocks.Just focus on the very good ones and just be focussed in your investment. You can even consider reducing your number of shares to just a few. That means selling some at a loss. Anyway in effect it is the same if you buy another share using the capital you sold the share for at a loss. You are merely "transferring" the money value from one share to another. |
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lewsh88
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25-Mar-2007 20:46
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burntbadbad, My two cents of suggestion: 1. Do not listen to tips on what stock to buy. Not even those posted in this forum. For the simple reason that nobody knows for sure what is going to happen to stocks the next day. When I first join SJ, I knew zero about TA and simply followed some people here into buying what they said was good. Of course, I lost quite a tidy sum (20K to 30K). If I can kick my own bum, I'll do it gladly! I don't blame anybody here. I treat the money lost as school fees. Few years ago Mr. Sukamto Tanoto (President Director of the Garudamas Group in Medan, Indonesia) bought US$20million shares in a SGX listed VCD tape drive company here (I forgot the co name). The company wound up a year later. Mr Sukamto said it is school fees!! (I worked for one of his associated plantation companies in Kalimantan for a few years). 2. Do not buy for the sake of buying. If you are not absolutely sure that you got a good chance, better keep your money rather than losing it. You have another day to live and another chance to make money. 3. Keep on learning TA. The Terraseeds MACD course I feel is quite good. It is easier to understand as compared to the Novice class. Better use your money to buy books and pay school fees rather than losing a bundle. 4. Select a few blue chip stocks such as STE, Singtel, ComfortDelgro, SMRT, SembCorp, NOL, etc.. and try to analyse the charts (you can use SJ charts or your broker's charts, they're free anyway) and do paper simulation trading. Do it for three months and when you are good at it, then go trade. If you are good at stopping losses in your game, you have already learnt 60% knowledge on stock trading. 5. Trade small. Depending on your cash flow, average trade of 8 to 10k for one stock should be OK. Anything less the fess will eat into the profit/loss. 6. Don't buy too many counters. At any one time, seven will be the maximum (this advice from brother Nostradamus). 7. Don't buy penny stocks. (this good habit from sister Singaporegal). You can still do trading if you are working and still have the energy in the evening. Good trading plan do not require you to sit in front of the computer screen watching stock movement the whole day. (Somebody said: Staring at the screen will not make the stock price go up or down,) In a good execution, you already know when to get in and when to exit. Give full attention to your baby. Babies/young children learn bad habits faster than good ones!! Cheers. |
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iPunter
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25-Mar-2007 17:51
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The point I want to stress is that those new to the stock market (I shall avoid using the word 'newbies', since new to the stock market doesn't necessarily mean new in other fields too) are invariably looking out for advice and tips and act based on that, especially when it comes from a person recognised or believed to be an experienced or successful 'authority' in the particular forum. Whereas if the 'tip' comes from an 'ordinary' member, they would understandably just ignore it. |
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geojam
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25-Mar-2007 17:35
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burntbadbad try to get an assistant to fund manager job.This way u kill 2 birds in one stone. |
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elfinchilde
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25-Mar-2007 16:47
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yep burntbadbad, my sympathies with you. but don't worry; all of us here, i'm sure, got burnt before. the idea's to learn from it and to benefit. 'tuition fees'. might be painful, but look at it in a positive light; it equips you with lessons for tomorrow. :) agree with punter abt following stock tips on forums. Discrimination and discretion are the most impt things. must realise that all of us here are just traders too; our opinions are just that, opinions. And mostly, when we post, it's to share our findings and see if anyone else correlates. you certainly shouldn't be buying/selling just 'cos you read an uptrend/downtrend call on SJ or anywhere else. The point is to use our opinions and do your own research, then buy/sell only if it factors in with your own calls. i.e., all calls on SJ/anywhere else is just a source of information; it's not fact to be totally trusted. in the market, you trust only yourself. as for minimising wilmar occurences. hehe, it happens to the best of us. The key thing is not to panic; you need to see what's actually happening. The idea too, is not to look back. 'what ifs' only hamper trading. Nostalgia kills. Wilmar is a punting stock; easy to get caught in crossfire if you're not fast. You can suss out such stocks easiest by volumes. if you look at past year's vols (or in day to day trades) and you find sudden large lot action, while rest of year is stagnant/low vols, it's indication of big boys play. Eg, if you look at wilmar, it had a high vol of 61.7mil on 22nd aug, cf to lows of abt 2-3mil only recently. that's a dif in vol of 30x. => BBs at play. even clearer on stocks like tat hong. |
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singaporegal
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25-Mar-2007 15:26
Yells: "Female TA nut" |
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Hi burntbadbad, I suggest you look at easier indicators first like Moving Averages to get a feel of how TA works. After that, you can move on to more complex ones like the Accumulation/Distribution and Chaikin indicators. Do let me know if you need help understanding. Cheers! |
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iPunter
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25-Mar-2007 10:47
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Dear burntbadbad... :) The comments in my post below does not specifically refer to you or your stocks portfolio, but rather, it is a 'general principle' comments on the dangers of simply following trend tips in a forum. |
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iPunter
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25-Mar-2007 10:41
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Those keen to hone their trading skills should find this excellent book by Gary Smith invaluable... How I Trade for a Living This must be the best book available on the market today. It is written by someone who had himself 'slogged it out' in the jungle of the market, and with his own money. I highly recommend this book on account of its frank personal style. |
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fortunegal
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25-Mar-2007 10:36
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burntbad, can you give me the date where you bought at 0.24 ? and the date where you sold off at 2.36? just want to see the charts. |
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iPunter
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25-Mar-2007 10:26
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Dear Burntbadbad... :) hahaha... This is only the nature of the stock market... You must not think that you are only one of the few who experienced this (ie. buy high, sell low, then stock goes up shortly after you sold it off). It is a very, very common experience even among seasoned traders. And this is the reason why it is very dangerous to hear tips like "this stock is on an uptrend" or "this stock is on a downtrend". These kind of 'tips' is only superb for the very experienced traders who seek a second opinion on their own verdict and they normally treat this feedback as just another 'indicator' in their whole arsenal of indicators. In other words, many experienced traders also need the comfort and 'assurance' of more indicators, sometimes the more, the merrier, but not always. But it would be very different if a newbie would just listen to an experienced trader and act according to those "trend" tips. In all probability, the newbie will simply buy and sell his stocks based the trust they have in the words (ie. uptrend/downtrend). The newbie will not have much 'discriminating' experience to judge the deeper implications of 'trend tips'. |
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geojam
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25-Mar-2007 01:32
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burntbadbad I spent zero time on reading and researching charts. actual trading?Just a click of the mouse and ur order is processed. i hate to read books and do writting long post. prefer to listen and watch. |
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burntbadbad
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24-Mar-2007 22:09
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Good evening Geojam, Ipunter, lewsh88 Don't think I can ever reach singaporegal jie jie's TA gongfu standard cos my brain doesn't assimilate/(imbibe?) info from the TA books very well. ;-) unless she takes me as her student. I might start looking for a job soon and might not be able to trade as much to horne my skills. How do you all cope?? (i only know lewsh88 manages this well even with his adorable grandson around. He sounds like an active and inquisitive little boy! My boy is gonna turn 2 years next month and seems to find sleep not a neccesity nowadays, much to my horror and sleeplessness) How long do you all spend on reading, researching charts and actual trading? I feel like I'm spending ALOT of time cos maybe I'm not that familliar yet. Regarding the topic on cut loss I have question. I made a loss on Wilmar recently when I bought at 2.40. It dipped quite a bit and I sold off at 2.36 to cut loss only to find that few days later it shot up to the current price of 2.6. #**&^^&% ops sorry for the &^*^*^%$^ language. Kind of got spooked by Wilmar now cos kena played out 2x. Try not to touch this counter now. How do I minimise such occurances in other stocks?? Thanks. |
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iPunter
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24-Mar-2007 17:47
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Elfin... Please simply ignore my post if it's unclear... Anyway, I simply referred to 'principles' and 'comments' and had never specifically referred to anything personal with regard to what you mentioned. So obviously there's was a lot of assumptions... :) |
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iPunter
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24-Mar-2007 17:40
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If you doubt my words very much and think I am talking 'cock' (O, excuse such vulgar language), you simply need to ask all your long-time stock-playing friends and see how many of them really made good money. |
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iPunter
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24-Mar-2007 17:37
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In the stock market, wisdom usually simply means don't bet big. |
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