Friday, February 14, 2014

Trait #2 : Be Passionate

By Koon Yew Yin

Trait 2.

A great investor is one who is obsessive about playing the game and wanting to win. 

These people do not just enjoy investing; they live it. They wake up in the morning and the first thing they think about, while they are still half asleep, is a stock they have been researching, or one of the stocks they are thinking about selling, or what the greatest risk to their portfolio is and how they are going to neutralize that risk.

It is 12.45 am now ... Happy V-day, if you are celebrating.

I slept early today as I am very tired, after a whole week of classes and paper-work. Then, I am awake ... to do some readings, checking on the markets and my trades.

GAB : Bought her after sold off my AEON for profits. Heavy as it is, but the movements are strong too. 10% profits? KLCI came down sharply today.

Yes, being passionate about whatever we are doing ... including trading/investing. If we are going to trade well, it is definitely need many of our hours to research ... and learn more about strategies, trading set-up, news related ... etc etc. It takes me hours in daily basis. Yes, daily ... for past 6 years. Without passion ... and motivation, it is difficult to last long. Simply put, nothing great being achieved without great efforts done.

Certainly we need to ENJOY whatever we are doing ... otherwise, the hours we spent with 'markets' will be a drag. In daily basis, they will always some interesting stories related to stock markets ... from the bird-flu, USD ... QE tapering drama ... to the step down of Swak CM. From some cooperate exercises, M&A of companies ... quarter reports, dividend declaration, announcement of change of CEOs ... to any insiders buying/selling ... we have to be alert and aware of them.

These certainly takes a lot of our TIME and EFFORT. For that, I do believe we need to have the passion to continue to probe, learn, listen ... share ... etc etc. Without passion, many things will become a drag ... and it won't last.

IF money is the only motivation to be in market, one tends to give-up when he/she starts to lose money. The 'instant gratification' ... instant profits, instant easy money kinda mentality stays in MANY of those in stock markets.

Did we knew the statistics of 80% losers in stock-markets?

Because most of them want to profit ... and seeing it instantly. That explains why many punt into those penny-speculative counters. Little knowledge needed in punting ... but we do need 'LUCK'.

So, we should be motivated to learn more about trading markets. We should attend many of those talks(many are free ... organised by IBs) and do our own researches.

We need to be consistent in our trades and learning ... so that we could see to be a better trader. We cant do that ... without passion.

I am going to drive up to IPOH on Sunday morning for KYY's talk. I heard that he has changed venue due to overwhelming responses. Great ... I will try to record his talk and post it here.

 For those going to his talk, great. Do take the opportunity to know great-man's views. Learn from those done well, rather than from forums or your friends.

See you all there.


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