I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!

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This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

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Sunday, 15 January 2012

How to know when I am wrong?

Read? Buy and hold??? Take a good look and seriously think over it.

It is very important to track and measure our performance closely so that we can objectively know when we are wrong.

e.g. I will know that I am wrong if I don't make any money from the market for three consecutive months. I will stop and stay sideline. LOL!

Posted by Createwealth8888 at 20:53
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3 comments:

  1. Kyith15 January 2012 at 20:57:00 GMT+8

    thats not really helping! what do you mean by not making money? no div no cap gains?

    ReplyDelete
  2. Createwealth888815 January 2012 at 21:30:00 GMT+8

    When I was doing contra trading, I never have any consecutive months of losses. Once I have three consecutive months of contra losses in 2008, I stopped doing contra trades anymore.

    Since Nov 08, I didn't have any consecutive months of not making money from short-term trading. When I have three consecutive months of not making money from short-term trading in 2011, I knew that I was wrong. I stopped too.

    We can't know where the market is going; but we will know how are we doing based on our own past performance.

    Self awareness is very important if we want to know whether we are right or wrong.

    ReplyDelete
    Replies
    1. Anonymous16 January 2012 at 04:58:00 GMT+8

      To me, self awareness is NO 1 if you want to be successful in your life; especially investing life.
      Like:
      We all can't know where the market is going; but we will know where the market is after it has gone to either one extremes. The question is do we chickened out at one extreme and too piggy at the other? To me the real reason market timing don't work is we are chickened and piggy at the wrong time.

      Delete

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