How to quit trading stocks?

[Tigerwoods]

Trading and investing..investing is put $ hold n see

 

Trading..daily to weeks to earn your target price..heavily inolved in TA etc

 

Trading is very tricky way to make $ in market,it requires alot monitoring,daily shares patterns,CK intentions,ownself pyschological effects..as u play along u will learn this naturally (i quitted my job last Sep to do a fulltime for last quarter,worth it anot it;s ownself to decide and think), i just started trading and CKs always cheat my feeling..lol

 

u nid alot discpline and set ownsets of rules to follow..

 

1st point in my book is dont be greedy,say u earn $x means $x ,dont wan more or feel ai wan later

 

2nd point is muz swallow the gut to lost..2-3% means 2-3%, this is a big problem alot will hope "damn 2-3% only,can rise back one"end up drop further and lost more..fall in love in making $ but not in a particular shares

 

3rd point, move on it lose 2-3%.market is always there,dont think so much on it and lost ur emotions..never let emotion overtook u when u trade.

 

Lastly trade what u can afford,it not will end up v jiak lak..

 

i am still v new to trading , i am sure alot more pro exp here can share their views.

For anyone who can go solo, quit job to do Full time investing already says alot about your Liquidity.

No one with $50k savings and bills to pay will take this route. Kudos to you bro. I also want to learn from you.

 

Totall agree with what you advice above.

I too am emotionally attached to my stocks, like those you bought at the all time low.

I have a few that even FC in 2008 I'm still have 40% margins (from 300% though)...

 

The problem with most investors (Including me) is the AI WAN...

I always remind myself not to Ai Wan - I'm still battling wit this demon

[Lejx]

Trading and investing..investing is put $ hold n see

 

Trading..daily to weeks to earn your target price..heavily inolved in TA etc

 

Trading is very tricky way to make $ in market,it requires alot monitoring,daily shares patterns,CK intentions,ownself pyschological effects..as u play along u will learn this naturally (i quitted my job last Sep to do a fulltime for last quarter,worth it anot it;s ownself to decide and think), i just started trading and CKs always cheat my feeling..lol

 

u nid alot discpline and set ownsets of rules to follow..

 

1st point in my book is dont be greedy,say u earn $x means $x ,dont wan more or feel ai wan later

 

2nd point is muz swallow the gut to lost..2-3% means 2-3%, this is a big problem alot will hope "damn 2-3% only,can rise back one"end up drop further and lost more..fall in love in making $ but not in a particular shares

 

3rd point, move on it lose 2-3%.market is always there,dont think so much on it and lost ur emotions..never let emotion overtook u when u trade.

 

Lastly trade what u can afford,it not will end up v jiak lak..

 

i am still v new to trading , i am sure alot more pro exp here can share their views.

 

 

i do not how new you are....! But whatever you mentioned...are extremely good points. (Maddog, pls read FreeStyle points, summarised from thick Trading books, haha)

 

No matter which trading books you read... Author always emphasis on Risk/money management and emotions.

 

I am also learning the points you mentioned... i would say... not easy to master..esp the emotion part. Im discipline in my Stop loss though. if you guys follow my thread... im very happy that I stick to my stop loss... look at Bund center now... (0.575/0.580), i cut at 0.595.

 

After cut... went back to 0.605/0.610. I felt awful..!

 

But Im glad now..!

 

Freestyle... im sure you will be good! Good luck!

Edited July 26, 2010 by Lejx

[Freestylers09]

last time i like those put and parked on..dont see after that..then realise,if i do on daily to weekly target..good enough...

 

my FT job didnt earn alot like ur pple here..3k the most..so i prorated my time,etc making from market,gave me a good reason to justify me to go FT

 

i made quite a killing on the rally from June to Sep last year..so can substain me for quite long..a meltdown come in early Oct but still managed to cover,just make lesser overall..this mistake i will never forget...those CKs really makan liao and wriped mouth, threw everyone there without signals

 

now market v dull..so just looking for good picks..slowly step by step..i still learning..tend to lost sometimes also but like i said..dont think for that instant,and get emotional..end of the end see P/L then is the answer..

 

actually alot do FT in their late 20s or early 30s..i wondering they not bored in life de ah..

[Chewbacca]

last time i like those put and parked on..dont see after that..then realise,if i do on daily to weekly target..good enough...

 

my FT job didnt earn alot like ur pple here..3k the most..so i prorated my time,etc making from market,gave me a good reason to justify me to go FT

 

i made quite a killing on the rally from June to Sep last year..so can substain me for quite long..a meltdown come in early Oct but still managed to cover,just make lesser overall..this mistake i will never forget...those CKs really makan liao and wriped mouth, threw everyone there without signals

 

now market v dull..so just looking for good picks..slowly step by step..i still learning..tend to lost sometimes also but like i said..dont think for that instant,and get emotional..end of the end see P/L then is the answer..

 

actually alot do FT in their late 20s or early 30s..i wondering they not bored in life de ah..

 

Yeah, kind of dull lately. No real movements.

 

Biggest heart ache was letting go of Genting @ 1.04. My average price was 0.935. Decent money, but......I held for so long. Didn't sell off @ 1.3, why did I sell off @ 1.04?

 

Oh, wait, I remember, because I think it'll dip to 1.00 again.

 

Which it did, for a good 5 minutes, but I was busy some place, couldn't buy....

 

 

[Freestylers09]

muz learn from mistake..all i mentioned b4 is my mistakes in past

 

last time i those v jiak lak one.lost abit si bei no mood and emotional like a gal without looking the TA everything and sold all..

 

like if sell 1 hour later..everything bounce back and become profit..u can feel my feeling that time

 

like i said, i can sense u also v pro trader..

 

everyone aim is to make extra $ thats all..huat man!!

[Freestylers09]

refer to my genting when it's 80+ oversold..and broke out level..forget what price..

 

most piss is my Indo,i went switch out to others,and broken 240 level from my target broke out 216 level..!at least 20c ..

 

what to do..this happens v v often one..just move on lor..

[Tigerwoods]

muz learn from mistake..all i mentioned b4 is my mistakes in past

 

last time i those v jiak lak one.lost abit si bei no mood and emotional like a gal without looking the TA everything and sold all..

 

like if sell 1 hour later..everything bounce back and become profit..u can feel my feeling that time

 

like i said, i can sense u also v pro trader..

 

everyone aim is to make extra $ thats all..huat man!!

There are times it seems the whole market is waiting for me to sell my 10 lots at a lost and then, immediately it chiong UP UP ...

 

Stocks are like that. You don't buy, it goes Up Up Up. You don't sell, it goes Down Down Down... and when you go against the market, the market go against you. Very hard to make money if I not full time.

 

[Freestylers09]

ya its common..accumulations at lower price to whack up

 

last time i bought BMX at 29,32 i dont sell in 2 weeks...then haiya sell at 315 (this is the time volume spike up) and i tot maybe alll no patience..

 

guess what?halted,news came..open back shoot to 52 in 4 days...my heart bleed and pain like dont know what..

 

like alot bros said..its the pschological barrier we muz overcome,now take it easier liao

[Help1]

TS, pump in more money so that

1) this will quence your thirst for more profit which is very unlikely

2) this will also lose more money for you which is very likely

3) lose money then borrow from family/friends/relatives and loansharks which is somehow likely

4) then lose all the above ($$$, friends, relatives, family), jump down from Duxton, hor say liao. if cannot die, "break leg, break hand" then declare bankrupt and let everyone ard u suffer throughout

 

heheheh....close all trading accts, be a henpecked husband/bf, handover all $$$ to the wife/gf and get $10 a day as allowance.

Edited July 26, 2010 by Help1

[Nutsack]

What's your trading style?

 

I trade long term. I almost never go into a trade with the intention to liquidate in less than half a year. But that also means the way I select my investments (and the stocks I pick) differs from the way other people choose theirs.

 

Speculating, to me, is not investing. It's market timing. And it's too hard to profit from speculation consistently in the long term. Several credible academic sources you find will agree. I've learned that in my first two years of trading.

 

I'm happy to say that even though I've yet to accumulate $1 mil in profits from trading, I've earned enough to handsomely supplement my income and increase my family's standard of living.

 

The trick is to keep your greed and emotions under control. Be very cold and calculated in your trading decisions. Never be swayed by small price increases fearing that prices will move away from you and hastily go into a trade. That's when people make mistakes.

 

Search for value - not short-term profit. Never buy if you're uncertain. Never follow somebody else's trades. Never buy IPOs simply because everyone's raving about it and you "think" the company is a good one. IPOs are a different species compared to currently traded equities.

 

And also explore alternative securities. Funds as a way to diversify some risks. Fixed income (bonds) to place some cash for safekeeping. And set aside some money for the risky stuff. My risky stuff is in index futures. Been happy with the returns I've gotten from there.

 

And nothing comes for free. You have to know your stuff. Read read read. Watch watch watch (financial news channels) I cannot stress this enough.

 

I subscribe to a multitude of financial news sources. Not that any trading tips will come from them. But after a year or two of "studying" the markets, you'll gain a perspective that's going to be very very different without doing the work.

 

I do not consider myself a veteran but still a newbie. I've been a retail trader for about 8 years. Started during my tertiary days and I've learned a lot.

 

To me, trading is a journey. It's important to make mistakes, but it's even more important to learn from them. I've seen many relatives who still stick to the same trading psyche/strategies despite making losses using them - making no adjustments whatsoever.

 

To me speculation or market timing is akin to gambling. But value trading - searching for good value, understanding good biz strategies, learning about markets and cyclical performance and trading with a long-term horizon - is investing. To me, speculation is a risk not worth taking on. You can always set aside some funds for high risk investments, but market timing shouldn't be one of them.

 

But if you believe that you're unable to adjust to a new perspective, you can always close down all your trading accounts. Head down to CDP to close ur account too. But believe me, your current perception of what trading is is but a minuscule part of what it truly is.

Edited July 26, 2010 by Nutsack

[MadDog70]

How many of you got burn before and quit trading/investing stocks?

How many of you are successful till now?

[Freestylers09]

Successful or not is individual target

 

end of month if its a plus i am happy about it

 

but remember trading is trading n investing is investing

 

u muz differentiate the differences clearly b4 u set ur target on wa u wan

 

if not stay away to watch first

[Hosaybo]

My 2 cents worth...if you get emotional seeing your $$$$$ going up and down, you can forget abt trading. a trader need to be discipline- when cutting lost or selling for a profit when the price reaches your preset threshold & not look back.

 

for investor, you gotta do your homework and not believe all the reports you see from the securities firm (One firm could be recommending BUY while the other SELL).

[Bigg]

bro have u had a chat with God recently?

try it. :)

[Zangetsu77]

How many of you got burn before and quit trading/investing stocks?

How many of you are successful till now?

 

Started off getting burnt, now recovered all my losses and made very decent realized profits.

 

All the tricks to success are not taught in books or courses. TA + FA is hardly enough.

[Jp66]

My 2 cents worth...if you get emotional seeing your $$$$$ going up and down, you can forget abt trading. a trader need to be discipline- when cutting lost or selling for a profit when the price reaches your preset threshold & not look back.

 

for investor, you gotta do your homework and not believe all the reports you see from the securities firm (One firm could be recommending BUY while the other SELL).

Agree, I am one of them. No doubt trading stock is one of the best way to make quick money, but it just didn't work for me.

[Dumb]

How many of you got burn before and quit trading/investing stocks?

How many of you are successful till now?

 

Been trading about 25 years. Some years gain and some loss. Over the years including dividends, average return is about 7% per year. Dividend account for about 55% of the gain.

[Windwaver]

Been trading about 25 years. Some years gain and some loss. Over the years including dividends, average return is about 7% per year. Dividend account for about 55% of the gain.

 

7% is not too bad. My 9% just went 7% all thanks to the crisis