Interesting situation now. Bidders waiting at 1.48 for other to sell. Volume getting thinner. Cleaning up weak holder and getting ready to push up to next level ? Clean up the weak holder stage by stage ?
Myself and a group of my friends have written letters to the Boards requesting total capital repayment/dividend sum to be higher than 45sen. Just pray hard that our voices are heard . If it comes it is bonus .
I bought my 1st shrs in 2015 & 2016, then sold in 3 rounds in 2017 when the price nudged above $1.70 & then $1.80 @ the highest & out completely @ $1.57 in Jul. Re-entered in 2018 below $1.20 & re-sold part @ $1.40+, averaged down in '20 in the low $1.00+ then re-sold everything in stages last year from $1.50-1.60 & as low as $1.34. Unfortunately, my stakes weren't big so the total gains was only $1,313.29. Today I re-invested 90% of this profit by re-entering this stock yet again...
Nothing wrong with trading small...gives me the chance to average down at a lower price. Trading small actually saved me from the FATE of so many others who committed all their bullets @ one shot & are now STUCK like a p*g in a poke. Also, if I can earn over $50 a day to cover my modest expenses, what is there to complain about? Most ppl are like my friend who bought 4,000 petronm @ 4.50 in Mar then sold one shot @ 6.04, earning 6k BUT missing out on 1.6k extra profit even after petronm tumbled so much.
203k of investible cash is my current reward for conservatism & in a bear mkt like this, where there's a 80% probability that whatever you buy will lose you $ as soon as you buy it, better to be super defensive when buying. Used to own over 200 counters spread over 4 countries but now I've cut that down to well below 200. In Japan, just one lot of 100 shrs costing me $4.5k earned me $6.8k when the co. was taken over last Nov. Managing risk is the #1 priority for a full-time mkt trader like me & buying small is part of that. Also, there was at least one capital gain for me daily, non-stop, going back to Jul 29th 2020. 211 winning counters in 2021 & already 80 this year, with Orient contributing 8x so far. Buying & selling small offsets the frequent sin of buying too early & selling too early.
Even without a salary for the past 14 years, the net gains I made in the stockmarket since 2013 is more than enough to buy an average condo(& many houses in the country, even in KL suburbs) BUT I'll let the property market stagnate or decline further as the latest QE is unwound & when 'blood is on the streets' & firesales are aplenty. Many of my peers & family caught in property loans taken over the last 15 years & don't even have enough spare cash to buy shares!
My Japanese portfolio alone(incl cash of 857k yen) is worth over 100k & dividend income fr '13 - '21 is over 113k.
It seems the trend now is to tell the world that one is making tons of money in the stock market. How about the losers? Are they going to tell their sob stories? I made peanuts, hence I won't say anything.
I'm OK with paper losses. One Japanese stock I bought for ¥1,191 in 2018 dropped to ¥253 last year despite my doing all due diligence but was rescued by Nidec & I finally sold it lately for ¥1,302 after missing the 1st spike to ¥1,346 in Jan. If co. really goes bankrupt then I write off the amount which is easily covered by the realised gains of $40-103k per year since I usually buy small amounts to spread the risk.
Of course, I may be biased agst others' advice to cut losses fast because of my experience of a 34k punt on Sino Hua-an declining until a max. paper loss of 14k but eventually realising 58k of gains. I'm still learning every day & will continued to learn until my last breath in this lifetime.
In fact I would estimate that >90% of my long entries show a paper loss for up to 2 weeks or longer before the gains eventually come, sometimes taking 7 years(Teo Guan Lee), 8 years(Cepco & Oriental) or even 14 years(Wong Engineering,Woodlan & Uchitec) before I'm able to close the entire position profitably.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Opportunate
204 posts
Posted by Opportunate > 2022-05-25 15:14 | Report Abuse
Interesting situation now. Bidders waiting at 1.48 for other to sell. Volume getting thinner. Cleaning up weak holder and getting ready to push up to next level ? Clean up the weak holder stage by stage ?