How I Lose Money In The Stock Market
[Media Invite]
If you could still remember, the last stock market crash was in late 2007, the Sub-prime Crisis. But one year prior to the crush, the stock market was in its bull run, actually, it was a SUPER BULL RUN. In that super bull run, any stocks you bought would just keep going up.
AJ was born in Nov 2006. As I was having my 16-weeks maternity leave that period, I thought I might as well start trading stocks. And because it was a SUPER BULL RUN, I made easy money all.the.time. Then I started thinking, like many green horns would, that I was so smart, winning all the time, and making money from stock market is so easy, why slog and work then?
Long story cut short, I quit my job to become a Remiser in July 2007. After a few months into the job, I got a little aggressive. After reading news that SGX has record earnings, I bought this counter (this stock called 'SGX') big time. That same evening, I attended a talk conducted by my company’s top Remiser. There he was, advising us to sell because the market was toppish. What?! You can imagine my surprise! I had just bought this counter (SGX) on grounds of good earnings yet this person told me he has sold this stock instead! In fact, he shorted (selling without stocks on hand) this counter. I wanted to cry out loud there and then. Truth be told, the price of that counter dropped from the moment I bought. Eventually, I cut my losses. It was $16,000.
There is a BIG conclusion I have drawn:
Do not think you can make easy money from the market without going through the hardship of learning some trading skills. If there was any chance of winning, it was pure luck. And luck will definitely run out. Most people lose money than winning.
From then on, I attended previews after previews of workshops and seminars, and eventually signed up for a few credible courses, each costing me at least a few thousands. Of course, there are many such courses in the market, how would one know if they are credible or not. Because I was working in the industry, I was able to discern who are the real gurus, who are the self-professed gurus. And because it is so easy to sell you a get-rich-soon idea, there are really many self-professed gurus out there selling you nonsense courses. If you are not careful, you are not only going to give your hard earned money to the market, you are also giving your money to these undeserved self-professed gurus.
Over the last 10 years, I have learnt from a few masters who are of high integrity. Looking back, without attending their courses and their mentorship, I may still be giving money to the market instead, or may be I would have stopped trading totally. But I am still trading now, and I love doing it. The fact that I am still trading the market 10 years on, it means some of those courses I have attended have helped me. As I honed my trading skills over the years, I also got wiser when it comes to scrutinising these market gurus.
If you are interested in learning how to trade, to get a secondary source of income, before you even start trading, be prepared to pay for courses to learn first. Without paying school fees to learn, you are likely to pay school fees to the market. I know some of you will private message me asking me what are the courses I would recommend. I can’t actually advise you on that unless I know your personality and your risk appetite. For those who are keen to kick start your trading journey, here is a one-day trading workshop you can consider.
This one-day trading workshop conducted by Online Trading Academy provides you with some basic knowledge on how the markets function, who are you trading against, the types of trading instruments for different time frame and risk appetite, etc.. It gives you a good broad overview on the financial markets, costing only $59 with promotion code 'mylilbookworm'.
After this one-day workshop, you should have some idea if trading is for you. If it is really for you, go on and explore more specialised courses to hone your skills, do some paper trades before you embark on the real trading journey. I am still learning until today. So,
Let me tell you a secret.
It is a secret even my husband doesn’t know.
I am sharing this secret with you so that you may understand:
Making money in the financial market is not as easy as what most so-called ‘gurus’ claimed.
If you could still remember, the last stock market crash was in late 2007, the Sub-prime Crisis. But one year prior to the crush, the stock market was in its bull run, actually, it was a SUPER BULL RUN. In that super bull run, any stocks you bought would just keep going up.
AJ was born in Nov 2006. As I was having my 16-weeks maternity leave that period, I thought I might as well start trading stocks. And because it was a SUPER BULL RUN, I made easy money all.the.time. Then I started thinking, like many green horns would, that I was so smart, winning all the time, and making money from stock market is so easy, why slog and work then?
Long story cut short, I quit my job to become a Remiser in July 2007. After a few months into the job, I got a little aggressive. After reading news that SGX has record earnings, I bought this counter (this stock called 'SGX') big time. That same evening, I attended a talk conducted by my company’s top Remiser. There he was, advising us to sell because the market was toppish. What?! You can imagine my surprise! I had just bought this counter (SGX) on grounds of good earnings yet this person told me he has sold this stock instead! In fact, he shorted (selling without stocks on hand) this counter. I wanted to cry out loud there and then. Truth be told, the price of that counter dropped from the moment I bought. Eventually, I cut my losses. It was $16,000.
Needless to say. I.felt.lousy.
I have learnt my lesson, a hard way.
There is a BIG conclusion I have drawn:
Do not think you can make easy money from the market without going through the hardship of learning some trading skills. If there was any chance of winning, it was pure luck. And luck will definitely run out. Most people lose money than winning.
From then on, I attended previews after previews of workshops and seminars, and eventually signed up for a few credible courses, each costing me at least a few thousands. Of course, there are many such courses in the market, how would one know if they are credible or not. Because I was working in the industry, I was able to discern who are the real gurus, who are the self-professed gurus. And because it is so easy to sell you a get-rich-soon idea, there are really many self-professed gurus out there selling you nonsense courses. If you are not careful, you are not only going to give your hard earned money to the market, you are also giving your money to these undeserved self-professed gurus.
Over the last 10 years, I have learnt from a few masters who are of high integrity. Looking back, without attending their courses and their mentorship, I may still be giving money to the market instead, or may be I would have stopped trading totally. But I am still trading now, and I love doing it. The fact that I am still trading the market 10 years on, it means some of those courses I have attended have helped me. As I honed my trading skills over the years, I also got wiser when it comes to scrutinising these market gurus.
If you are interested in learning how to trade, to get a secondary source of income, before you even start trading, be prepared to pay for courses to learn first. Without paying school fees to learn, you are likely to pay school fees to the market. I know some of you will private message me asking me what are the courses I would recommend. I can’t actually advise you on that unless I know your personality and your risk appetite. For those who are keen to kick start your trading journey, here is a one-day trading workshop you can consider.
This one-day trading workshop conducted by Online Trading Academy provides you with some basic knowledge on how the markets function, who are you trading against, the types of trading instruments for different time frame and risk appetite, etc.. It gives you a good broad overview on the financial markets, costing only $59 with promotion code 'mylilbookworm'.
After this one-day workshop, you should have some idea if trading is for you. If it is really for you, go on and explore more specialised courses to hone your skills, do some paper trades before you embark on the real trading journey. I am still learning until today. So,
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