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very depressed after losing $13K in stocks.

agree, dont look back, also lost about 10K+ in clob shares and then was bitten badly on chartered & stats. almost gave up on share trading. but i'm making good profits of 10K+ again this year :)  no choice got to spend on lesson learning. impt is to learn new things constantly, & also learn more abt self too.

 

Hi guys, I lost in Clob shares too. Don't look back. Moving forward, trade within your means. As lewsh88 has mentioned, try not to borrow from bank to trade, it is to risky. If you have the holding power, do not panic. Usually all the tips or information given are already belated. Do not jump in blindly upon receiving the so-called insider info or tips do some homeworks. Cheers!

 

Hi robinpang,don't need to be sad. I lost 50K in Clob shares during the 90' and i manage to make back 30k during 1999 bull run at SGX.

 

Hi folks:

I have been dabling in stocks for a long time.

My Turnover: About 200K to 800K per year.

My Balance sheet: About break even to date. (very, very lucky).

My Biggest loss: OTC Malaysian stocks - about 300K.



Lessons learnt:

1. I strongly believe that trading in stocks is like going to the casino. According to experts: In poker, it is more technic than luck. In roulette, it is mostly luck than technic.  



2. Everyone who wants to trade must understand all the terms in stock trading such as "short selling"; "contra"; "warrants"; "structured-warrants"; etc...

In this forum I frequently notice members who are asking about the meaning of the above terms. Some people assume that warrants and structured warrants are the same. They are not. They are as different as heaven and hell.



3. It is good to attend lessons in TA. I attended one that I considered good and I am now more careful before I jumped in. Good TA instructors teach you the basics of when to jump in and when to jump out - like rope skipping. If you jump in or out at the wrong time, you get your legs caught.



4. I always buy what I can pay in cash. I never borrow from banks to buy. If I get stuck, I wait. Unless you are very unlucky and bought stocks such as L & M, I believe what goes down will eventually go up.

I have friends who bought Singtel many years ago at 3.60 and still holding. Well, they are quite near now! They may not make plenty of money, but at least they can recover their money back. It is their trading style.



5. If people tell you they are making a lot of money or they have "lobang" or insider information, just take the information as information. Don't take them as advise or tips to buy. In this world, I believe there are no saints who will teach you how to make money. They will keep their secrets of making money to themselves. You can read all of Warren Buffet's books but you may not make money like he does.



6. Always bear in mind that fund managers make their profits from fools like most of us who panic and sell when there is a downturn. They just mopped up shares at a discount and sell them back to us at a premium when we rush in just because everybody is rushing in.



Cheers and good luck.

 

Just a little to share with you guys... I am currently renting a SGD 370 common room at Jurong East. My landlord had a early retirement at age 43... He played stocks at age 24. right now, staying at Jumbo flat at Jurong East, currently, he paid off 2 units of 3-bedrooms Carribean condo, (drawing SGD 4500 monthly rental for each 2 units). He made one -time cash payment for these two units condo, that's nearly 2 millions, cash from stocks earning... on top of that, he got another 2 units of condo at the East, these two are under bank loans.. I tried to learn some skills from him, but hey.. the way they play might not suitable to you. He plays warrant, which I have NO IDEA what's the hell is that.. He never play tech stocks (sound like warren buffet), but recently he sold ALL his singtel stocks.. He is heavily bought in bank stocks and one tip from him. BUY CONSTRUCTION stocks... but, that's the way he play.. One stock he loves now is Yongnam.... But, I just don't dare to buy what he buy because he can cut loss.. but, I am not willing to do so... so, I still take his as reference but made decisions on me... But, its good to know someone who is really keen in playing stocks... maybe he can give us some courses? ha ha..

 

oh, same age as me... I am 26 too..  I don't play contra, because "boh ji" ha ha.., but "very short term" and mid term, as for this year I made 8 transactions in total, not many... 7 of them are sold , so far 0 lost.. (1x Genting, 2x Hyflux, 2x UTAC, 1x Singpost, 1x starhub), right now, I am holding Bio-treat at price 0.845. I am just too gam chong, bought it the day it drops from 1.22, who knows it drops further all the way to 0.54... but I believe it will rise again (since I don't use the money urgently, why not just keep it until it comes back to "better price")

I read stocks in year 2004, but never go in until this year... right now... I am more eyeing on Bank stocks, but they are way too expensive! (that's why rich people getting richer!) and SPC... I am going in soon... heee... again, I wish to know all the TA skills... as I only read warren buffet books...

 

wow thanks to the Master and the Veteran. You guys are really "lau jiao". I hope to complete my website and so hopefully you guys can can post yr advice there.

Sadly even before having fun trading, i have already been destroyed by contra. Yes i thought i was a pro, but no matter how pro, the only thing in my mind was to cover my losses. That is how i grew desperate and things got out of hand. My main enemy is myself, greed + desperation. I guess no matter what age, this will experienced by all.

Wow and i thought i was the only one who lost $13+ k. Thanks for sharing. I feel better knowing that people really do lose momey too.

btw how did u lose $15k Cashiertan ? haha, very funny right, Singapore gov allow. In a way, we already have our own casino here. If gov dun allow, then no punters and no SGX already right?

Sigh, $13K, when i think of it, the things i can do with it, like makan, travel, .... all for gambling. damn me,

 

well for me, i was allowed to open an poems acct during my ns days with just 400 basic pay... WTF spore system for allowing me, an ns guy to buy stocks worth up to 15k...

well, i lost around 15k in total before i started my Reversal like MACD. the most impt lesson you and i must learn from losing 15k is

1)never give up. yes u lost 15k, but if u quit, this 15k will be wasted and lessons not learned.

2)never never trade unless u graduated from whatever stock schools u choose. Be it TA or FA school.

3)never never never change your system of trading that u are taught. stick to them, Proven and reputable trading systems are made to win in the mid to long term. however, do note that some system dun work in SG market.

4)never never never never forget to learn from mistakes or bad trades u made. Write it down in a notebook of every reason that coz u to made that bad trade and never commit them again.

5)DUN ever contra unless u are PRO enough. make sure u only buy within ur means.

now, i make less and lesser bad trades and more good trades. 

Last but the most impt. have a cut lost % or something which u stick to it till u die or stop trading..

Note: for a start on noobie like Robinpang, get a good trading book to learn the TA and basic FA of stocks and economy. Remember, the easier the trading system/strategy the better.  

 

U r oni 26yrs, a long long way to go and a long road is always awaiting U, plenty of choices out there memm... don said 1.5 yr to pay back, start with 1-2 lots tikam tikam, afew hundred dollars will turn afew thousand, not in day or week or even months, in years.U must always do your home work and always remember not to be over come by greed even 110% sure.Yahh... GREED. Your greatest enemies.

 

IPO stocks. Tikam tikam kena keep your  one lots for good. I mean good fundamental strong, basic, genius, transparent business record even though it has short histroy but with proper model to relay on it continue business model. Trust those parent who built up their (baby) companies to this ipo level  is not fly by night business. 

 

There are many stocks available from ipo points of view, recent offer good fundamental ipo stock like eg: Epure ($0.65c), Ouhua ($0.38c), Swiber ($0.355c), Synear ($0.54c), SinoTechfib ($0565c), so many newly ipo out stock out there for U. kena 1-2 lot keep for long long term and U will win and win, just do not over come by greed.

 

Thanks teethmaster, i feel better know knowing that people lost more than me. But i still feel like crying.

i should create a website where all losers of stocks can go and tell how much they have lost. You can reply without letting known yr identity, which is a good thing too.

I always believe that you can be superrich from stocks. Damn, i should also know that it can make u superpoor! Especially with contra and/or leverage involved.

teethmaster, maybe u would like to be the first post there? you can start the trend? put yr age too.

i;ll start 1st,

i am 26, lost $13K from contra, 1.5 years to earn that money. Currently still indebted. Paying by installment to brokerage firm. So nice of them to allow me to do this. Thank you to my broker too for all the arrangment that you have made. F***er

 

Hi, RobinPang. Get into safe stock and yet safe stock may not be safe enough, hope U can recover back ur confidence slowly but surely. One thing i alway like to mentioned here is greed, alway remember not to be over come by greed even if one is 110% sure it can make alot of $$$. Good ipo (FA) stocks (through my very personnal trading experience) will one day even with one lot will carry you a long way through diffcult time. Yahh....Personnally i also gone through it, lossing alot more then U for sure plus, plus 30 over k.

 

http://g0500332.googlepages.com/theexperiment

i guess its a dangerous world. Do support my blog and read about how i am overcoming this gambling bout. Also will i get into more gambling debts or make good from here? I dunno...plz advice the wiser ones.