Thursday, February 2, 2017

Never say never

I've learnt to not say never because it seems the more I say never I end up doing it or it ends up happening. It's like the law of attraction...of sorts...the more certain you are about a certain attract it to you and ta da before you know it, it has occurred! 

I saw some dips in REITS which I sold off and now it's at a price level which seems more palatable so I bought some lots two days ago and will look to buy more if the price is right. For the rest of my current SG stocks holdings, they are recovering but I'm not inclined to increase my holdings to average down or whatever you would like to call it. I'm still looking to dispose of them once the price is right which is like taking forever!

I'm beginning to favour just holding a few REITS which I'm familiar with for my SG holdings. Most of my time has been spent on trading as my trading strategy seems to be a mish mash of multiple styles and timelines which so far has been working out well for me most of the time. I'm exploring whether I'm to lock it down or delve deeper into one strategy or to continue with what I'm doing with some refinement.

My instinct is to refine what I'm currently doing which is a mixture of multiple trading strategies as it's something I'm familiar with and to good results most of the time. So far I've identified my style to be a mix of reversal, momentum and breakout trading with timelines of a day or more. I've yet to day trade but it is something I'm looking forward to doing in the end as it appeals to me in the sense that my work is done for the day and I can start a new day with no baggage.

This year shall be dedicated to trading and trading well. My aim is to report good results come Christmas this year! Huat ah! 

Monday, January 2, 2017

Reflections and Resolutions

I sold off some of my investments in REITS once they broke even a few months ago and am still on the lookout to sell off more but it is really far from its cost price and with the pittance of dividends, I don't know when I can see the light at the end of the tunnel. Recently their prices have dropped so it was a good move to sell them earlier on. 

On the other hand, my trading has improved in the last few months and I'm booking higher profits with no losing trades so that's great news in the sense that I'm slowly but surely getting better. I've yet to fully optimize each trade's profits as I'm still very much a novice but am learning along the way so that's an area I need to work on. Definitely need to work on exits more than entries it seems. 

I think the greatest lesson so far for me would be the fact that I continue to trade even if my current positions are in a loss making position or if I cut loss. Previously, I would fret and be upset and fearful of taking on new positions which are right calls due to existing loss making positions which just needed more time to turn positive or the pain of cutting loss is too much to bear.

I guess the key is to not be emotional about money because it clouds my mind and hence affects my decision. To not be emotional about money is not easy regardless of whether you are rich or poor. If you are always in fear of money and worried about spending money, it would be hard to grow your money because you would not be thinking of multiplying money but am instead concerned of rationing money.

I've not been blogging much and have been guilty of 'consuming' by reading other blogs etc instead of 'producing' content on my blog. It is so much easier to consume than to produce so while I may get ideas for new posts, I hardly pen it down. It is similar to investing and trading, we may read and consume many ideas or opinions about different stocks but when it comes to executing or producing results with our picks, we hesitate and wait instead.

In 2017, I intend to just focus on JPY market. I hope to produce rather than consume as I'm still in the game as 2016 comes to a close. My goal is to end 2017 on a positive note and a positive mindset is key as I've been hatching Lapras, Pikachua, Dratini, Elekid, Magby etc just by thinking how nice it would be to have them to complete my Pokedex. I'm thinking of not playing it after I heard that there are more than 700 monsters and a region exclusive could be based in Antarctica! Now if only I apply that positive thinking to thoughts like how nice it would be to become a millionaire through trading ;D