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What is your WORST trading experience....

That's it...

A healthy self-inspiring outlook and sound philosophy of living (which includes stock market trading, of course) is absolutely a must. ... :)

 

clob, chartered, stats assy. abt 20K

 

Thanks iPunter,

Larry Williams book is pretty good not only because of the technique but also he dwells a lot on trading philosophy.

 

And also... if you are really serious about trading the stock market and want to acquire the maximum knowledge on good trading technique, you certainly  will also find  Larry William's Books  desirable and extremely useful... :)

The first step towards successful trading is education.

Don't let the stock market beast whack you left and right !!!

 

Hi Daaweee,



It's good to know you are already have one of  John Murphy's Books about TA.

That's in fact the defacto bible/scripture for all TA practitioners throughout these years. I've  had my copy since so very long ago. It's a bit thick and the price is somewhat high, but worth it....I am sure you agree with me... :) 

 

Today (28/12) i bougth ocbc at $7.65 n allgreen at $1.30. can s'poregal or anyone analyse and comment my action. thanks. hope to learn from experience trader here.

 

Or will bunbun really strike "bun bun" (2 Ace) in this forum.....

 

Hi Bun Bun,

You have got a really cute nick:). Maybe you will strike "bun luck" through this forum:). 

 

bunbun... You are very right and you have just struck upon a very fundamental rule in stock market play. But many people don't like it when the defensive rule is mentioned, especially the majority who want to use the stock market to get rich fast... so they bet very big... like at Genting... and quite a few made it to be millionaires. But a lot of them also became permanently disabled in a financial sense. But human nature is hard to change. It is like this forever.

 

thanks ipunter. bunbun easier to remember and not tongue-twisting ;-)

ya you guys are right, cannot follow what others are buying. i've long given up doing that. now learning as i trade. am bound to make mistakes here and there, but reckon if i learn my mistakes, then at least it's worth it, coz hopefully i won't repeat these mistakes again.

but most importantly, at least to me, muz control greed :p

 

I have given up on Analysts reports already... not much use to me at all

 

Not just forum but the analysis as well. Some of them issue buy and sell call like nobody business. Example DBS issue a Buy call on DMX with a TP of $1.08. Next day it issue a hold call with a TP of $0.65.

Singaporegal - Thanks. Will try to learn some TA from you as well. Been reading the TA book from John Murphy.

 

Yeah... iPunter is right. Don't trade based solely on what you read in the forums. Its good info to have but ultimately, its your decision and responsibility to check and confirm that its the right decision.


Welcome daaweee! This site will definitely benefit you!

 

bunbun (nice name.. hehe),

Jargon is one thing... all that can be picked up as you go along. But underlying truth is more important. There's really no cheap way to learn about the stock market. If you buy just because you love the style of any particular person or persons, then it is too simplistic a view of things. It is so pitiful to see newbies going in to buy when 'on uptrend' is announced by someone, for example. As there are more than one trend in effect at any one time, money can be easily lost immediately you buy in. I repeat, money is lost the moment you bought. It is a very common occurrence.

 

guess my worst so far is the buying of one of STI put warrant. bought at 31cts now worth only 3 cts!!!!

*faints*

i am still learning how to read charts, so hopefully that will help me along in my shopping of counters in the future. also, am learning alot from the experts here (though sometimes blurred by all the jargons u guys used) - thanks to all :)

 

Hallo everyone,

I am new here and this website is loaded with a lot of awesome features.

For me, the worst experience is wrong timing. I was buying stocks that already ran up high...etc C&O, Man Wah and DMX. Then the crash in May 06 and none of those stocks I brought ever regain. Lost of almost $20K.

During this time, I have also learnt that cutting loss is impt. I have  failed to cut loss during the Crash partly due to my ego. The death of my beloved dog in June totally paralysed me and I just didn't do anything and day by day my stocks just kept on dropping.

If I have cut loss early I can use the remaining capital and invest on other stocks that are enjoying the bull run..etc Sino Enviro.

So cutting loss and timing are very impt IMHO

 

lost + 100k in 1996 on CLOB shares bought in 1995.

(see "What is your Best experience")

 

If I spent another 4K, my name will be listed in the annual report of Liang Huat. In all, I have lost close to 40K because of insider info in 2000 when I was very green... 

 

Hi giantlow,

I contributed an article recently. Its still on the front page of ShareJunction - called "Confessions of a TA purist". I have listed the charts I use.

Hi Livermore,

Glad to hear that TA works for you. Yah... Bollinger Bands are very useful for giving early notice of sudden price changes. I love those BBs!

 

Hi Singaporegal,

Hey thanks for your advise. I am slowing learning the TA stuff. Maybe I was lucky but I timed my buy for some stocks quite alright this year:). Now I watch carefully for those tight bollinger bands you mentioned.

But as I mentioned previously for some stocks, I might not want to exit. However I will still monitor and act accordingly if neccesary. Looking at Sincere Watch's (another one I lost patience) price today has Sincerely reminded me again to be patient and patient.....