A roller coaster 🎢 year for 2023, started with a downtrend during the first 6 months and followed by a strong rebound towards the second half and ended with an amazing Christmas rally. 🎄 This is the way that I can use to conclude the year of 2023.

Well, now can I do better in 2024? By referring to the mistakes made in 2023, I hope to have personal growth in terms of trading sentiment, strategies and wealth. Below are a few key factors that I need to work onto:

1. Fund management

I learnt the importance to manage my fund better, by not investing in too many single stocks at a same time. The number of counters traded needs to be reasonable so that we can have enough time to manage them and it doesn't look too messy and manageable. Holding too much stocks will confuse you and make you unable to execute your trade wisely.

2. FOMO

Never be FOMO especially when something is being "hot" or "mad" for a long period of time. I made a mistake by chasing AI stocks C3 due to its cheap valuation. Instead, I should just focus on the AI leaders like NVDA. There's always a good reason for some stocks to be "cheap".

3. Diamond hand or cut loss?

It's still a big struggle for  me whether to hold or cut loss on certain stocks. The decision seems to be easy in mind but when it comes the moment that we need to decide, we can't make the decision firmly. Most of the time, investors will end up holding the stocks "diamond hand" until the loss keeps getting bigger and bigger. At the end, it will be too late to react as the losses become huge. This will lead to the loss of time modal as the losses might take easily 1-2 years to Breakeven, or even longer!

 4. Make investment easy 

It's so true and I discover that most of the "simple" investors make more money than the so called "skilled" investors. The simple investors usually will only invest constantly on the big giants which is very stable and consistent in return. In long run, their return will be more positive than those who tends to trade a mix of growing and high risk meme stocks. 

5. 2024 theme

It's important to stay with the market focuses or themes, these are the areas where the fund flows into. By involving in such themes, the chances or opportunities to make profit will be higher. For 2024, I look good on the AI, semiconductor, EVs and drugs themes.

How about you? Come and share your insights here guys. 

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