My Trading Adventure
Cheap Mindset
CP TEH
Publish date: Thu, 06 Nov 2014, 12:45 AM
CP TEH
0 2,918
All the writings in this weblog are mainly for PLEASURE reading purposes. I am in NO position to recommend a call(BUY/SELL). Please check with those know-hows before you make a decision. Yes, I am just a learner, with only five years experiences in KLSE. So, please BEAR with me.
I started my talk with this clip : GRIT
That is how I am moving ... to be a better trader. And to do that a reality, I have to examine myself --- my weaknesses and seeing if I could do a little better ...
Cheap Mindset
then ... I shared with my audience(online) on WHY we have cheap mindset ... and how it will make more retailers suck into stock-markets ... buying into CHEAP stocks, penny-stocks which are HOT. Sigh .. I was stern and wanting to put the point across so much.
Do not lose money? That is not possible.
To ask retailers and newbies NOT to buy into these penny speculative counters is NOT possible. Many will buy Esceram tmr ... or chase DNex or under-valued IFCA? Haha ... I want to laugh but I am supposed to be stern. A teacher in me ... trying to tell those newbies about what they should not buy? What? Learn first .. buy boring counters, those so called blue-chips?
Learning is NOT in most of traders in markets. Haha .. I want to laugh again. It is because we used 3-4 years to obtain a degree(so that we could work for somebody) but we do not need license or anything at all ... to punt into DNex?
We have to admit that we bought into these counters because it is CHEAP. In our mind, somehow it is embedded inside us(a person said ... DNA ... good word) to get things FREE .... we go to market talk for free makan ... and free tips.
We visited forums/blogs as they are FREE. We want things given to us, information and lessons for FREE. Free is good in our retailers mind. Free warrants attached, we will like. Bonus-issue is good?! Free ma ... right?
So ... it is all about our EMOTION.
It is about HABITS ... one of them : Being CHEAP.
One person asked : How do we change our cheap mindset?
I said : Not possible. Unless u have done what I asked my students to do ... BUY original books instead of photocopying ... BUY an original DVD rather than downloading them? Is that possible?
bear in mind again ... with 80% losers in forums, in stock-markets ... can we afford to be CHEAP, buying lousy counters ... simply because it is penny?
Learn to trade first ... learn about fundamentals of the companies BEFORE we think of buying these cheap stocks.
Time to rest ... and might plan for CHEAP MINDSET talk again for those missed the interesting story I shared. Haha ... I m just a joker ...and entertainer.
Note : I gave examples like Harvest, KNM, Sona, THHeavy ... many more ... and Kinstel
Kinstel : MANY retailers losing money in her ... suddenly they cant find files ... now what? Cut-loss will be too painful
night ... zzz ... DOW at new high.
TEH
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Discussions
3 people like this. Showing 9 of 9 comments
Yes you got a point that newbies should not touch penny stocks.but to buy blue chips you need the correct timing to buy into the stocks which are very expensive if compared to CHEAP stocks.for eg. supermx..in at 2.24 still patiently waiting for the right time to go out.a trader could have in -out many times.
2014-11-06 09:47
one need to have the right culture to trade the markets..be rational,dont be kiasu,got win so must accept loss.do not take big margin to punt..thats how many went bankrupt from the boom of 1993 to their downfall in 1997.
2014-11-06 09:57
disagree..some cheap penny stks have good n developing fundamentals...play pennies with reasonable FAs..many mid caps started as penny stks also..it is all a question of good timing n catching the theme in play..n cashing out in time..play the game..dont blame the game...
2014-11-06 10:02
Good job, Mr Teh. Really appreciate your point of view, about human nature, about investment behaviour, can not be denied.
2014-11-06 10:05
He touched on the nerve of many people. most street player are loser in the market. it can easily tell the moment they buy what kind of stock. The fact is simple. good stock cannot be cheap. good fundamental stock cannot be cheap. there must be a reason for a stock to be cheap. anyway, it is good to have many losers in the market so that the savvy one can make money from them. Without loser, how can there be winner!
2014-11-06 10:17
I think it is a combination of greed, ignorance and a kiasu mentality that shape the culture and behaviour of most of the "investors".
2014-11-06 21:51
the guys at ifca are having a good run..4 wk run 0.375 to 0.765..
u keeps emphasising on " to be a better trader"..but only "trade" blue chips..aka safe stocks..why not then change ur course to be a better investor??..or value investing like kcc...
if u trade.. u need to hv a plan..to take profit or to cut loss..to mitigate the risks..thats trading mah..no risk no gain...mr teh....
2014-11-06 22:41
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