Personal sharing by Round & Surge Course Navigator, Kelvin Yap.
I had lunch with one of our member, Kent yesterday. His objective is to become a full time trader, so that he can spend more time taking care of his family. So I shared my past failure experience as full time trader with him, so that he won’t repeat my fail foot steps again. Like one of the famous quote from Jack Ma when he was asked about the point of view in MBA courses,
“Instead of learning from other people’s success, learn from their mistakes. Most of the people who fail share common reasons(to fail) whereas success can be attributed to various different kinds of reasons.”
I always like to share my failure with traders. Hope that they can learn from my mistakes and speed up their trading goal.
we had conversation about retail traders mindset. But one of most interesting topic that we have discussed is about trader’s ultimate objective in the stock market is to make profit. But many of the traders mindset are not heading to the direction of making consistent profit. Rather they are just looking for excitement in the market, choosing the right stock, hitting jackpot, looking for a stock that can give them huge profit.
Most of the time, this kind of traders end up losing more. Because they put their expectation into the market and expecting it to hit the jackpot, instead of listening to the market and trade accordingly. In this case, there is only 1 outcome, they hit the jackpot in 1 stock but hold a few losing stocks.
Since they are losing, why do they still continue? Answer : The excitement from hitting the jackpot and the satisfaction is enough to blinds them from those losing trades they are holding.
Basically you can call this group of traders, gambler. When they hit the right stock they are happy, when they are in the wrong stock they change to investment. With millions of reason from “Google” to support the losing stocks in long run worth investing or collect dividends.
In this conversation, George Soros famous quote strikes into my mind, ” If investing is entertaining, if you are having fun, you’re probably not making any money. Good investing is boring.”
Ask yourself, are you a gambler who always looking for 7 stars stock everyday or you are a boring and everyday repeating the same trading routine kind of trader?
If you are looking for 1 hit wonder kind of excitement, Round & Surge is not for you. We believe true traders react to the market and we strive to achieve consistency in our trades.
Some traders will still convince themselves that they are not gambler after reading this. The numbers will never lie, look into your trading result, are you consistently making profit every month? You know your answer.