Started my investment journey 5 years ago. Started with purchasing ILPs from insurance agents, and eventually realizing that the fees involved is too much, so I closed my plan and suffered a loss.
So from this, Ive learnt that in order to control my own money flow, I have to start learning how to manage it on my own. So I started understanding what is expense ratio, MER and etc... So after that, I started RSPs with etfs.
From that foundation, I started to explore options trading through a seminar I attended at MBS. Eventually I paid for a course and trade side by side with a "guru". His trade record is not as amazing as he advertised, however the content he presented was easily relatable as he is a Singaporean. I realized that most information in the internet are based in overseas context, so it is hard to understand.
So from there, I've learnt how to read financial reports, how to valuate a company, how to decide whether a company is financially sound in from a fundamental perspective. In addition, I attended webinars and watch youtube videos to further understand the different indicators and candle stick patterns.
With all that information, I digest it and kind of found a way to mesh them together in a way that make sense to me. So with that I like to emphasize that do not be afraid to pay for knowledge, the key is to know what you are paying for.
In addition, learn how to fish rather than asking people for fish. If you do not break away from your "guru" and function on your own, unfortunately u will never ever succeed. No one is looking out for your best interest except yourself, especially money.
Lastly, do not be afraid to lose money. Anyone that tells u they have a perfect trading record in the stock market is probably BS. Learn from your mistakes, set your stop losses, and know how much you might lose before looking at how much you will earn. Have your counter measures ready before you even enter the trade. Trust your GUT feeling, its a myth but it works, it is your last defense machanism before you press that trade button and get filled.
Thank you for reading my post and good luck in your investment journey. Happy trading.
#TradingisaMarathonNotaSprint
@madluvyz - Specialist in using TA to sell options and swing trade.
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