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Something I received today. Enjoy !
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Keeping emotions and investing separate seems almost impossible for
many investors. Yet, it's crucial to keep away from emotions in
order to be successful in investing.
In my last newsletter, I shared on how the herd instinct could make
you lose lots of money in the stock market. Today, I'd like to
share more on the 4 types of emotions that, in addition to the herd
instinct, will also make you lose plenty of your hard-earned money.
The 4 emotions are as follows:
Boredom - You're bored with your cash sitting in your bank account.
You read lots of financial education books out there, and they're
hyping you up to do something about your money. Yes, it's good to
invest, but it's DANGEROUS to invest in something you have NO
KNOWLEDGE OF!
Greed - Yes, you've made some money from your investments. Wouldn't
it be better to make EVEN MORE MONEY in that case? But many at
times, the investments may already be OVERVALUED, but just out of
pure greediness, you're holding the investments and NOT SELLING!
Envy - You saw your friends or loved ones making lots of money
through a particular investment. And according to them, the
investment is still worthwhile getting on to, so you follow them
(herd instinct) because you want to make as much if not more money
than them. Problem is, you don't understand how the investment is
going to generate you cash! This was why Sunshine Empire could scam
MILLIONS of dollars!
Fear - You don't want to put your money into any investments
because you believe that the stock market is risky. So you rather
keep your money in the bank account. But over time, you realize
that your expenses are increasing, while your income stays the same
or if not, goes even lower. Eventually, inflation takes over and
your cash got eroded in the bank!
As you can see, the key to overcoming all of these 4 emotions is to
acquire sufficient knowledge so that you are able to sleep soundly
at night, knowing that your investments will generate cash andcompound your returns for you overtime.
BullishTempo ( Date: 24-Oct-2010 18:20) Posted:
A nice article I received about gauging your own emotions and also market emotions to know whether it is time to buy or sell. Many times people sell too late due to greed and therefore sell after panic selling kicks in due to fear.
Lesson? Unless you are already a seasoned trader and know the right moment to sell together with the BBs, it is better to be less greedy and sell early before fear kicks in and you have to panic sell.
A very nice tool I use to avoid having to deal with greed/fear is to automate the whole process. Once you know the price is near a high and a correction might be coming in a day or two, start using a trailing stop loss or at least move up your cut loss order to a price near the day's closing price.
That way, when panic selling comes in, your system will sell for you without you having to panic and do the wrong thing. When fear kicks in, folks have been known to press the wrong button, instead of selling they buy, instead of buying they sell. Humans make errors, systems don't. Plan your trade the night before, adjust your stop-loss order, put in your profit-take triggers, set-up your trailing stop loss, read your charts, read the news. Do whatever is necessary before the market opens.
A stop-loss order or a trailing stop-loss allows you to leave your desk for a toilet break or smoking break without you worrying that panic selling has kick in. Learn how to automate these processes. If your platform does not provide these features, and you are a regular trader, better switch to a better platform soon! |
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A nice article I received about gauging your own emotions and also market emotions to know whether it is time to buy or sell. Many times people sell too late due to greed and therefore sell after panic selling kicks in due to fear.
Lesson? Unless you are already a seasoned trader and know the right moment to sell together with the BBs, it is better to be less greedy and sell early before fear kicks in and you have to panic sell.
A very nice tool I use to avoid having to deal with greed/fear is to automate the whole process. Once you know the price is near a high and a correction might be coming in a day or two, start using a trailing stop loss or at least move up your cut loss order to a price near the day's closing price.
That way, when panic selling comes in, your system will sell for you without you having to panic and do the wrong thing. When fear kicks in, folks have been known to press the wrong button, instead of selling they buy, instead of buying they sell. Humans make errors, systems don't. Plan your trade the night before, adjust your stop-loss order, put in your profit-take triggers, set-up your trailing stop loss, read your charts, read the news. Do whatever is necessary before the market opens.
A stop-loss order or a trailing stop-loss allows you to leave your desk for a toilet break or smoking break without you worrying that panic selling has kick in. Learn how to automate these processes. If your platform does not provide these features, and you are a regular trader, better switch to a better platform soon!
I have always regarded trading, by its very nature,
as a
solitary activity.
Simply because, if others are involved,
that in itself would open oneself to being influenced
by other individuals' views, opinions, biases, etc
bladez87 ( Date: 24-Oct-2010 17:49) Posted:
is that not the same as herd mentality? BT when you conducting course? no need big venue la. i think only a few of us. can improvise on venue, maybe like a study corner in a uni or something. or a place where students will go study, MAC starbucks etc.
BullishTempo ( Date: 24-Oct-2010 14:33) Posted:
Having good EQ is probably just as important if not more important than IQ when gauging market movement. Without good EQ, it will be difficult to gauge market emotions and sentiments. My friends who are good traders are people with high EQ, sensitive to people's needs, emotions, sentiments and moods. These people make extremely good traders, because they know how to swing with the market. Hope you know why I am talking about this  |
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I have always regarded trading, by its very nature,
as a
solitary activity.
Simply because, if others are involved,
that in itself would open oneself to being influenced
by other individuals' views, opinions, biases, etc
STRONG BULL eats JUICY GRASS
GENTING SP is JUICY GRASS
WEAK BULL eats DRIED GRASS
猛牛吃嫩草
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DVD disc player |
DVD disc player |
| Width |
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14.1 inch (360 mm) |
| Depth |
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8.2 inch (210 mm) |
| Height |
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弱牛吃枯草
Buying at $0.85 is not herd mentality. People were selling at that point in time, remember Citi downgrade GSP to $0.75 ? Then suddenly 2nd quarter come out and analysts were all proven wrong and all rushed to upgrade their targets. Buying when a stock is overvalued is herd mentality. Buying when a stock is undervalued is a smart investor, Warren Buffett style.
Remember, July, August, September all broke tourist arrival records, especially September due to F1 racing. Quarter 2 surprised everyone because GSP had a lot of VIP patronage during that time. And going by number of VIP losses at GSP in the newspapers recently we know that VIP patronage volume should be consistent in the 3rd quarter as well if not higher due to higher tourist numbers.
So now the risk factor is as follows : Has MBS caught up with GSP? Is GSP still the market leader? If MBS has captured more market share than GSP in the 3rd quarter then we better run now. However remember the papers state that GSP still has a lead over MBS and there has been bad press about MBS management recently.
So is my bet on Las Vegas Sands or GentingSP?
I will leave it to you to decide
is that not the same as herd mentality? BT when you conducting course? no need big venue la. i think only a few of us. can improvise on venue, maybe like a study corner in a uni or something. or a place where students will go study, MAC starbucks etc.
BullishTempo ( Date: 24-Oct-2010 14:33) Posted:
Having good EQ is probably just as important if not more important than IQ when gauging market movement. Without good EQ, it will be difficult to gauge market emotions and sentiments. My friends who are good traders are people with high EQ, sensitive to people's needs, emotions, sentiments and moods. These people make extremely good traders, because they know how to swing with the market. Hope you know why I am talking about this
iknownothing ( Date: 24-Oct-2010 12:48) Posted:
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haha okie! i think don't post too much here must talk more about genting else forumer see already turn off with motivational stuff haha..
good to have those ignorant folks, for us to earn their money...
Cheers! |
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i not sifu la! i noobie who cant stop talking, the definition of the saying empty vessal makes most noise.
until now i still having a net loss position. currently, my enemy really is myself. lol. most of time too greedy to think straight. i will think that i am thinking straight but i was already blinded by greed.
is akin to a drunkard saying he not drunk. most of us already blinded by greed before we make the decision, and cause of that, we lose.
but i dont understand 1 thing, why would SGX wanna merge with ASX. sing ex merge with aus ex then become what? ausing exchange? i see no reason for 2 exchanges to merge. can someone enlighten? thanks
iPunter ( Date: 24-Oct-2010 14:17) Posted:
Bladez is also a good sifu too, in addition to iknownothing & Bullish Tempo ... :) Trading is indeed war... And most often, for those who have not yet mastered the difficult art of trading, the greatest enemy is not the stock market, but the trader himself/herself.
iknownothing ( Date: 24-Oct-2010 12:48) Posted:
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haha okie! i think don't post too much here must talk more about genting else forumer see already turn off with motivational stuff haha..
good to have those ignorant folks, for us to earn their money...
Cheers! |
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If I can recoup all my losses and be in the profitable zone in less than 6 months, it shows how important the right knowledge and skills is for trading. But I have to admit there was some luck in finding the right stock to trade at the right time. GSP was in bull run after May, and I was trading it since that time.
BullishTempo ( Date: 24-Oct-2010 15:08) Posted:
It was sometime between january and march. Traded the hong kong market.
Noob79 ( Date: 24-Oct-2010 15:00) Posted:
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O.Olll 8mth ago u lost 80% of ur capital??.... but i thought the bullish market already start in march 2009...so should start earning since then le mah...may have some correction in between but will tend to trade higher mah...
More too got burn during 2007-2008... but that was history le... Finally 2010 i saw profit le...but i am stil learning too...Is there any other course beside chartnexus for better learning? Can recommend? |
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It was sometime between january and march. Traded the hong kong market.
Noob79 ( Date: 24-Oct-2010 15:00) Posted:
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O.Olll 8mth ago u lost 80% of ur capital??.... but i thought the bullish market already start in march 2009...so should start earning since then le mah...may have some correction in between but will tend to trade higher mah...
More too got burn during 2007-2008... but that was history le... Finally 2010 i saw profit le...but i am stil learning too...Is there any other course beside chartnexus for better learning? Can recommend?
BullishTempo ( Date: 23-Oct-2010 19:36) Posted:
After I lost about 80% of my capital about 8 months ago, I stopped trading, invested $20,000 to attend a series of trading courses before coming back to the market. So yes, I agree learning trading skills is necessary. Why? Because you need to know what the pro traders are doing out there, and as retail investors we cannot trade against them as that would simply be suicidal. We need to know what they know, the tools they use, technical charting analysis, the news channels they use, the trading psychology methodologies (greed, fear) they use. How do the BBs make retail investors dump stocks so they can buy and consolidate cheaper? And of course understand that manipulations are rampant in the market. The more you know the more you will trade like them, and not against them. Usually one course will not cover so much, which is why I had to attend several until I was satisfied enough was learnt. Once you know enough to stop trading against the BBs, you will naturally make less losses. Even though you know it is virtual money it still helps a lot. Aircraft pilots have to go through hundreds of hours of simulation training using their virtual flying cockpits that look a lot like video/computer games. Does it help to them fly a real aircraft next time? It certainly does. Is it necessary for everyone to attend courses? For traders probably, less so for long term investors. I knew I was more of a trader than a long term investor, so I had to invest more in my education. So the first question for you is, What kind of investor are you? And then you will know what the next step is. Hope that helps |
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BT, understood
Thanks! haha must add 1 more Strong heart!
O.Olll 8mth ago u lost 80% of ur capital??.... but i thought the bullish market already start in march 2009...so should start earning since then le mah...may have some correction in between but will tend to trade higher mah...
More too got burn during 2007-2008... but that was history le... Finally 2010 i saw profit le...but i am stil learning too...Is there any other course beside chartnexus for better learning? Can recommend?
BullishTempo ( Date: 23-Oct-2010 19:36) Posted:
After I lost about 80% of my capital about 8 months ago, I stopped trading, invested $20,000 to attend a series of trading courses before coming back to the market. So yes, I agree learning trading skills is necessary. Why? Because you need to know what the pro traders are doing out there, and as retail investors we cannot trade against them as that would simply be suicidal. We need to know what they know, the tools they use, technical charting analysis, the news channels they use, the trading psychology methodologies (greed, fear) they use. How do the BBs make retail investors dump stocks so they can buy and consolidate cheaper? And of course understand that manipulations are rampant in the market. The more you know the more you will trade like them, and not against them. Usually one course will not cover so much, which is why I had to attend several until I was satisfied enough was learnt. Once you know enough to stop trading against the BBs, you will naturally make less losses. Even though you know it is virtual money it still helps a lot. Aircraft pilots have to go through hundreds of hours of simulation training using their virtual flying cockpits that look a lot like video/computer games. Does it help to them fly a real aircraft next time? It certainly does. Is it necessary for everyone to attend courses? For traders probably, less so for long term investors. I knew I was more of a trader than a long term investor, so I had to invest more in my education. So the first question for you is, What kind of investor are you? And then you will know what the next step is. Hope that helps
iknownothing ( Date: 23-Oct-2010 18:57) Posted:
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BullishTempo, it was really a good post from u, but there is 1 thing that i wanna share as a beginner, also must go for courses and buy/borrow books to read + paper trading will be effective. if just paper trading, when it comes to actual trading the feelin is definately different, fear/greed all will starts to appear and it will bring u down terribly. paying more than 1k for a course or buy of books is better than paying 1k to the market and learning abit/nothing..
referring to red field; because some people never learn and kept getting burn and by learning abit will still lose out to those pros out there.
my point of view base on my personal experience, anything abv correct me if i am wrong.
Cheers!  |
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Should be 2nd largest after Hong Kong, not Japan.
BullishTempo ( Date: 24-Oct-2010 14:29) Posted:
Merger news was released after market closed on Friday. SGX shares are suspended from trading pending merger results. Once confirmed, the market will view it as positive news. SGX will then become the 3rd largest exchange globally, and the 2nd largest in Asia after Japan.
bofbof ( Date: 24-Oct-2010 14:06) Posted:
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BT, if its positive impact, why did SGX price fall 27cents on Fri?
i have read the SGX forum (within sharejuction) that price will fall further to the $8s, what's your view. |
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Having good EQ is probably just as important if not more important than IQ when gauging market movement. Without good EQ, it will be difficult to gauge market emotions and sentiments. My friends who are good traders are people with high EQ, sensitive to people's needs, emotions, sentiments and moods. These people make extremely good traders, because they know how to swing with the market.
Hope you know why I am talking about this
iknownothing ( Date: 24-Oct-2010 12:48) Posted:
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haha okie! i think don't post too much here must talk more about genting else forumer see already turn off with motivational stuff haha..
good to have those ignorant folks, for us to earn their money...
Cheers!
BullishTempo ( Date: 24-Oct-2010 11:54) Posted:
LoL no, I am also learning like everybody else, but I just happen to be very passionate about trading, because in my opinion it is a very interesting business. I agree that trading is highly risky, and there is a possibility for loss every single time we enter a trade. However if we have put in our stop loss, done our research and analysis on a company's performance, monitor the market consistently, then we have done our part to cut down our risks. In my definition, having done all that, we should not consider trading as gambling, but as having invested and owned part of a profitable company. As a profitable company grows, naturally a share price will also grow. People who gamble are folks who just trade base on rumour or base on a friend's recommendation without doing one's due diligence. Just my 2 cents. Cheers  |
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Merger news was released after market closed on Friday. SGX shares are suspended from trading pending merger results. Once confirmed, the market will view it as positive news. SGX will then become the 3rd largest exchange globally, and the 2nd largest in Asia after Japan.
bofbof ( Date: 24-Oct-2010 14:06) Posted:
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BT, if its positive impact, why did SGX price fall 27cents on Fri?
i have read the SGX forum (within sharejuction) that price will fall further to the $8s, what's your view.
BullishTempo ( Date: 23-Oct-2010 09:59) Posted:
| Positive impact for SGX. A merger like this will make SGX the 2nd biggest exchange in Asia after Hong Kong. SGX has currently suspended its trading pending the result of this merger. I expect a 10% to 20% rise in SGX after merger talks are confirmed and trading is resumed |
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Bladez is also a good sifu too, in addition to iknownothing & Bullish Tempo ... :)
Trading is indeed war...
And most often, for those who have not yet mastered the difficult art of trading,
the greatest enemy is not the stock market, but the trader himself/herself.
iknownothing ( Date: 24-Oct-2010 12:48) Posted:
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haha okie! i think don't post too much here must talk more about genting else forumer see already turn off with motivational stuff haha..
good to have those ignorant folks, for us to earn their money...
Cheers!
BullishTempo ( Date: 24-Oct-2010 11:54) Posted:
LoL no, I am also learning like everybody else, but I just happen to be very passionate about trading, because in my opinion it is a very interesting business. I agree that trading is highly risky, and there is a possibility for loss every single time we enter a trade. However if we have put in our stop loss, done our research and analysis on a company's performance, monitor the market consistently, then we have done our part to cut down our risks. In my definition, having done all that, we should not consider trading as gambling, but as having invested and owned part of a profitable company. As a profitable company grows, naturally a share price will also grow. People who gamble are folks who just trade base on rumour or base on a friend's recommendation without doing one's due diligence. Just my 2 cents. Cheers |
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BT, if its positive impact, why did SGX price fall 27cents on Fri?
i have read the SGX forum (within sharejuction) that price will fall further to the $8s, what's your view.
BullishTempo ( Date: 23-Oct-2010 09:59) Posted:
Positive impact for SGX. A merger like this will make SGX the 2nd biggest exchange in Asia after Hong Kong. SGX has currently suspended its trading pending the result of this merger. I expect a 10% to 20% rise in SGX after merger talks are confirmed and trading is resumed.
bofbof ( Date: 22-Oct-2010 23:08) Posted:
BT what's your take for the acquisition of ASX by SGX? impact on SGX share? |
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haha okie! i think don't post too much here must talk more about genting else forumer see already turn off with motivational stuff haha..
good to have those ignorant folks, for us to earn their money...
Cheers!
BullishTempo ( Date: 24-Oct-2010 11:54) Posted:
LoL no, I am also learning like everybody else, but I just happen to be very passionate about trading, because in my opinion it is a very interesting business. I agree that trading is highly risky, and there is a possibility for loss every single time we enter a trade. However if we have put in our stop loss, done our research and analysis on a company's performance, monitor the market consistently, then we have done our part to cut down our risks. In my definition, having done all that, we should not consider trading as gambling, but as having invested and owned part of a profitable company. As a profitable company grows, naturally a share price will also grow. People who gamble are folks who just trade base on rumour or base on a friend's recommendation without doing one's due diligence. Just my 2 cents. Cheers
iknownothing ( Date: 24-Oct-2010 11:24) Posted:
| nono i not sifus...i just add something that base on my past experience..the whole contribution is from Bullish Tempo..<--- the real Sifu!
Cheers! |
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hahaha good post but i always consider BB as allies..they got bigger and better weapon..so with my small weapon, i also will win.
as i no need to chiong the front to fight, got BBs all around no need scare!..don't go against them when they start pushing..not worth.
So my enemy = uncle/aunties/newbies/amatuer/my babies carrier!
My 2 cent worth. Cheers!
bladez87 ( Date: 24-Oct-2010 12:34) Posted:
trading is WAR! the stock market is the battleground. only when we know thy enemy and thy self can we win every battle!
enemy = BB
self = ... self
tian = timing of trade
di = opportunity to trade
jiang = leadership or BB i think
fa = your system
dao = everyone wanna make money!
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trading is WAR! the stock market is the battleground. only when we know thy enemy and thy self can we win every battle!
enemy = BB
self = ... self
tian = timing of trade
di = opportunity to trade
jiang = leadership or BB i think
fa = your system
dao = everyone wanna make money!
