Thursday, March 5, 2009
A Changed of Mindset
Well, it seems like I am the only one viewing my own blog of outdated posts and non-structural posts and what-the-hell-is-this-guy-trying-to-say posts. But hey, it is my blog anyway.
So here;s something I decided to post after a number of seminars I attended and some books I read.
1) Technical Analysis Master Class (Feb 09)
Thin is an intense 2 days class by a local Singapore Guru. Well, he do not think of himself as a guru but a kind hearted soul to share his leanings. But this guy is damn good OK. Anyway, I happen to have a great discount for this class and that's explain why I am there.
Down to business. I discovered that he always use "Business" to describe all his trading. It kept me thinking for a while and after reading 3 of his books, it struck to me that trading itself is a business. If you do not have a mindset to protect you investment like a physical business, trading is just another "casino" gambling. You will not think of the risk level, the profit actions and the money management. So yes, MINDSET is the 1st important think in trading.
And also this Guru advocate on Psychology as the most important part in trading. Again this is tie in closely to mindset. You must be prepared mentally and plan your game.
See, for so many TA class I attended only this Guru talk about mindset and psychology. And I respect him for that. He also taught how to read the chart in terms of what people are "feeling". He mentioned that you must understand what people are doing in this counter and how will they react to changes. And lastly, you do not predict the direction just find the trend and react with the trend.
Lastly, he introduced a unique way of candlestick reading and other technical indicators reading. This alone is a very exploring journey for me. I am still thinking and learning his "way" BUSINESS.
Did I mentioned that he pulled himself to "millionaire" dollar table through trading ? And a trading platform in USA is actually taking his inputs seriously to perfect their system. And this Guru is bringing in this system to Singapore. Another respect level from me.
2) Passive Income
In my earlier post, I mentioned about a 4 days intense workshop I attended last year. Although that workshop had ended, my mind is still hanging on to the lessons taught. I looked more seriously into my monthly budget. (super details) And I am planning my future needs with numbers and setting my "GOALS".
Am I have been looking into Internet marketing and finding out how people do it. Well, a lot of websites or seminars will promise "get rich" quick schemes. But I would say, MINDSET is again in play here. Internet marketing is also another BUSINESS. You need a plan, actions & learning to get it started and get it going and bring in the money.
Like my other Millionaire Guru said, there is no free lunch in the world (everybody knows this but ...) and you will not be a superstar after the workshops or seminar. It all begin after the workshop and seminar. YOU have to take charge and take action. (easy to write but not easy for everyone to follow)
So, I have been spending time to digest all the teaching from the GURUS and planing my path. I am dedicated not to reply 100% on my employment income but to build up a passive income streams. I want to enjoy my employment in fact and not worry about pay raise, bonus, layoff ... times are really super duper bad now.
3) BOOKS BOOKS & BOOKS
I have recently break my own records for completing 2 books in 14 days. And these 2 books started all my though process about money and trading. These books were written by my Guru's teacher (1 super millionaire & 1 super trader) - Did I mention that they scold people in their class after having to pay them 4 figure fees.
Now I have in my collection 7 books & 1 candlestick cards from my Gurus. (all read in record time) And another 7 books I bought from Amazon and Boaders while I was in USA last December 08.
All these books are around 3 main areas. 1) Money management 2) Trading 3) Internet marketing.
My Model to be successfule; 2 Local Singapore GURUS
My Belief will be to provide a carefree and comfortable environment for my dearest wife and my children (in the making) without the worries of money and time. In fact time is the only thing we had to worry.
And my GOAL are;
1) Start a passive income stream by 2009 end
2) Start losing money consistently in trading by 2009 end
Well, this is the longest post I had so far and I hoped this will be a record for myself to check back in a few months time on my progress.
Saturday, December 6, 2008
Protect Your Eggs
Thursday, December 4, 2008
Is the worst here yet?
Monday, December 1, 2008
Something interesting in youtube
1) Lance Beggs from "Your Trading Coach"
http://www.yourtradingcoach.com/
2) David Waring from "Informed Trades"
http://www.informedtrades.com/trades.php
Sunday, November 16, 2008
What a mess of information I received....
You know what, I had attended 3 seminars in 3 weekends. And YES that was 6 days full blown times on 3 different seminars. My wife was screaming at me when I told her I had to attend another "talk" this weekend and she replied "I do not want to talk to you anymore." Anyway, I assured her this 3rd is the last but I did not mentioned to her last of the many to come.
Ok, so what have I learnt from these 3 seminars ?
1) A super conference of technical analysis gurus from USA.
- mind blowing & eye opening to me
- there is everything under the sun about TA to be learnt and studied
- it forced me to relook into my stocks education
2) A wealth generating courses from Local guru
- again mind blowing & eye popping to me
- It made me think and relook if I should be concentrating on stocks trading to earn my passive income
- In this course there are 2 gurus: 1 millionaire & 1 fallen angle and millionaire-to-be
- 1 said "In long term, stock market is moving up" (he supported this with 50 yrs charts)
- 1 said "In long term, stock market is moving up but most of the time it is moving sideways" (he too supported this with 150 yrs chart)
- So what the hell are they trying to tell us??
- I have found the following video in YouTube to figure out these 2 statements (still thinking after viewing that)
3) A Internet marketing seminar
- message I got from the gurus is "You can make money from the Internet, buy my products to cut short your learning curve"
- I agree to them totally since we do not have the time in the world to get going
- Anyway I have another plan for that with my new found friends I met from my seminar #2
Lastly, I am committed to myself to totally learn and re-learn all my skills on investment. True investing this time. My previous trade I will term it as "gambling". So as to remind me of my errors. I am reviewing my holdings and to post out why I bought them and why I did not sell them last year when it is on the BULL run. As many had guess by now... GREED is the killer here.
PS: Last that I checked, my paper lost for my "long term" investments of local shares stands at $20K. SH*#%@... Be patient, apply what I had just learn and this numbers will get smaller ... COOL MAN ... COOOOL
PSS: Why COOL ?? That's the only thing I can do now ...
Thursday, October 30, 2008
Mad Days and Madness Everywhere
- Attend financial education
- Read books on financial education
- Read all the MB I had in my PC on Fundamental & Technical Analysis
- Take Actions to be successfully
- Start a online business
- Treat trading as my business
Sunday, May 4, 2008
Getting ready to get into the "feel"
News and numbers from last week suggested that the coming week will be exciting one. The market has been reacting well to positive news (especially in USA and they cast the financial crisis aside for now). I have spotted a few counters as well and will see what tomorrow tells me. If the condition are good I may pick up some trades but as a test water style. Putting my TA skills to serious test. REAL SERIOUS this time.
1) Market conditions - checked
2) Counter conditions - checked and spotted
3) Entry price - well not so checked yet but have an idea
4) Most important of all, is the money there for me to invest ?? - checked checked checked
5) Am I focus on these ?? - not so focus but somehow there
Conclusion:- I am not so ready after all but I have an idea of what to look out for. So will see how I perform tomorrow (5 May 08)
There have been a lot of disturbance these days and I cannot get focus of what I am going to do in the stocks market. But I am trying to focus on that, therefore I only mention I will look out for what is coming and not totally dump into it (as I almost did).
So uncertainty, here I comes... HUAT AH !!!!!!!