Monthly Personal Review- April 24
Personally, it been a slow year, and that's a super positive spin on how the year has gone. Been swamped with work and neglected my stocks. Ended up washing out my wins from last year, as I decided to try a more hands off approach which backfired.
I am apparently a hands on, research intensive active investor and when I put my foot off the pedal,I can lose lots. Damn Tesla! Haha! Part of the learning experience, I guess, as I am still relatively new to investing having only started investing in the 6 figures last year.
Last year, my gains came as I worked on buying and selling stocks with a small contribution via options. I attempting to switch strategy to one where I passively hold stocks while collecting option premiums but it ended up with spectacularly terrible results. Hence, I decided on a options only approach, swinging to nearly a pure option trades strategywith minimal holding of stocks, which I am getting the hang of now. I would like to think that I have a better sense of both options and stock investing/trading now and I have grown through the painful lessons I had.
Through this tumultous 2024, I realised that I have the right emotional state for investing as a day/swing trader. I can shrug off losses without much fuss as I know that when I am focussed, I can make big fairly regularly. While I can be a fairly risk tolerant, I have a good head on my shoulders and I have conviction in my capabilities.
At this juncture, I have doubled the money over what I had at my lowest point, and I am looking to recoup the gains I lost during my lull period. I am no longer under water, and will look to extract my gains more regularly. Despite the major hiccup in the past months, I am still making good money through Tiger and I still see this to surpass its status as a supplementary income source by overtaking my earned income through work and/or rental fairly easily.
Juggling new work commitments this year has taken its toll and has set me back from my 20X target by 2027, but life goes on and the target still remains. Not sure if I will need to push back to 2030 now though, but I am still up to the challenge to achieve my target by 2027.
Investing can be a fun roller coaster ride, and I am simply addicted to the thrills it offers. However, as a disclaimer, I must note that we should only invest what we can afford to lose. I may not be so emotionally stable if I didn't have my back ups in hard assets to keep me safe in the event of a wipeout.
I will end off with two mottos close to my heart. Nil Sine Labore. Auspicium Melioris Aevi.
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