Beware to all readers, this blog is made for my stock trading journey. Most of my future posts would contain only about stocks, charts, portfolio, etc.
"Like the legend of the Phoenix, all ends with beginnings." (Get Lucky, Daft Punk)
I was inspired to start a blog because of the first two lines of this song. It feels like today, I'm at the end of my trading "career". Maybe I'm into trading but trading isn't into me, just like singing.
I've been in the market for 1 year and 3 months (since July 2016). I still consider myself as a NEWBIE. From the start I was so excited to trade. I attended a lot of seminars from my broker. I joined a lot of Facebook Groups, listened to the recommendations of the self-proclaimed "GURUs". Look at the charts posted by strangers. Listen to their hype.
For that 1 year and 3 months, I've been trading without purpose. When a stock flies, I trigger the buy button, all-in. I'm 24 that time, single, 50-80% of my salary goes to my Buying Power every month. I thought to myself, "I'm young, I'm a high risk trader. High Risk = High Reward." My thought was wrong. It became my habit though, to buy all-in 100% up to the last centavo possible.
Around April 2017, I traded MRC, all-in. That was my biggest earning 24% in a few days. Followed by APX when it gap upped to 2 pesos. I felt like a GENIUS. The feeling was superb. I said to myself, "you're getting rich, no need to study fundamental and technical analysis, etc., just buy hot stocks, all-in, then voila you will be a millionaire soon". That's when I started monitoring my performance, weekly and monthly.
Then the following months came. Up to this date, I never had a positive month. Recently, PXP is the hot stock. It reminded me of MRC last April. I bought all-in at a decent price. It came to a high and my position is gaining 30%. But at that time I was still asleep. I didn't hear my alarm. That was 3:30 AM, Central European Summer Time. I woke up 2 hours later and my stock is now only 13% gain. I sold it off. I gained a lot from PXP that month but lost it the earning to other losing stocks.
I've been posting a lot on my Facebook account about stocks, even though only 5 out of 900 of my friends can relate. One of my senior in college noticed it and sent me a message. He was our standard back then. A smart and a great leader. We talked about stocks, as usual. He's an investor, but also want to start trading. He has patience, he has knowledge. I was impatient and lazy. I had a book, The Trading Code by Jason Cam, for one year. I just finished reading it few days ago. I was too furious to earn, but too lazy to learn. He quoted a line from the book The Alchemist, "When lead loses its purpose, only then it will become gold". I was reading it that time, and it hit me hard. I asked myself, what is my purpose in life and in trading. Maybe I'm a lead losing its purpose. So I reset my mind, my portfolio. I set my goal which is to become a successful trader, not a "hit or miss, waiting for the luck, praying after the buy" kind of trader.
My one goal, to become a successful trader, starts today. I started with reading books about technical analysis. I'm researching on different kinds of trading set-ups. I'm fixing my trading system/strategy. I'm applying risk management to avoid sudden undecided trades. I'm changing my strategy now, so that the lead before, will now become gold. Today marks the end of the old newbie trader, and the beginning of the journey of the successful trader.
"Because when you want something, all the universe conspires in helping you to achieve it."
-The Alchemist, by Paulo Coelho
I will leave my port snap here, for future reference.
Edit #1: 07 Nov 2017
I have sold off my Mutual funds as the PSEi hits new all time highs and focus now on trading. Good bye to the long term investor part of my self. Will focus now on trading breakouts. I also added more buying power when I received my salary. Will do it again on December. And by the year end, I will reset my port to start anew on 2018. I need to close my 2017 trading performance (which is now -40% as of this writing) in order to reset my mind.
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