Read? My Thought On Leveraging To Power Up Trading Income From SGX
You made money in days i.e. T+3.
Uncle8888's friendly broker was so good to him and power up him with more with T+5, commission rate of 0.22%, Buy Limit @ $300K and Sell Limit @ $400K. Shiok man!
That was the fateful day when the call from his broker offering him the above; it was shiok for sometime transforming from itchy hand to greedy hand. Who doesn't want to become rich from stock market faster? Not enough capital? Never mind! Just power up on OPM! When the Greedy hand took over control of our rational mind in the market; we no longer be Fearful! So, it is a matter of time this Greedy hand will soon turn into Nervous hand! Mr Market will show us the types of hand in the market!
When the Nervous hand started shaking badly; we will soon develop nightmares and have sleepless night. Losses escalate and now we become Fearful and cut losses and The Greatest Relief Is I have Sold!!! (2)
No more escalation of losses! No more Nervous hand!
Painful lessons learnt in GFC 2008 and it really help to move forward with preferred hands in the market!
No more Greedy and Nervous hand across future market cycles!
It will be just Steady hand and Itchy hand! Lesson well learnt!
Posts
CW,
ReplyDeleteYour broker is also making a speculative bet on you.
By giving you these "generous" terms, he expects to earn more commissions from you.
On the other hand, if you blew up and cannot pay up your contra losses, your broker is liable for them!
No free lunch.
Success is what we have to sacrifice to achieve it!
Hi Createwealth8888,
ReplyDeleteI spoke out against contra trading once in an online forum. Someone was not happy and told me "you don't know, don't talk so much and misinform".
A stock broker later told me most of his customers lost money in the stock market. I asked him why. He revealed that contra trading was one of the reasons.
I commented about the self-destructive behaviour of customers who contra-trade and that they should have been better advised. He replied, "I make most of my money from them". Ahh .... You don't expect the casino to advise their customers on the destructive consequences of gambling. Especially their most profitable customers.
Oh, by the way, that stock broker has made enough money and has retired. That's why he can be so honest with me. If he was still a snake oil working hard for his first pot of gold, he'll probably be attacking people who spoke out against contra trading. Like that person who told me "don't talk so much and MISINFORM" or your friendly broker who was so good to you. Heehee...
Panda and Koala still surviving until now
ReplyDeleteUncle8888,
ReplyDeleteCashing in on some Rounds 1, 2, 3 today? :)
Not yet!
Delete