Reflections and Resolutions

I sold off some of my investments in REITS once they broke even a few months ago and am still on the lookout to sell off more but it is really far from its cost price and with the pittance of dividends, I don't know when I can see the light at the end of the tunnel. Recently their prices have dropped so it was a good move to sell them earlier on. 

On the other hand, my trading has improved in the last few months and I'm booking higher profits with no losing trades so that's great news in the sense that I'm slowly but surely getting better. I've yet to fully optimize each trade's profits as I'm still very much a novice but am learning along the way so that's an area I need to work on. Definitely need to work on exits more than entries it seems. 

I think the greatest lesson so far for me would be the fact that I continue to trade even if my current positions are in a loss making position or if I cut loss. Previously, I would fret and be upset and fearful of taking on new positions which are right calls due to existing loss making positions which just needed more time to turn positive or the pain of cutting loss is too much to bear.

I guess the key is to not be emotional about money because it clouds my mind and hence affects my decision. To not be emotional about money is not easy regardless of whether you are rich or poor. If you are always in fear of money and worried about spending money, it would be hard to grow your money because you would not be thinking of multiplying money but am instead concerned of rationing money.

I've not been blogging much and have been guilty of 'consuming' by reading other blogs etc instead of 'producing' content on my blog. It is so much easier to consume than to produce so while I may get ideas for new posts, I hardly pen it down. It is similar to investing and trading, we may read and consume many ideas or opinions about different stocks but when it comes to executing or producing results with our picks, we hesitate and wait instead.

In 2017, I intend to just focus on JPY market. I hope to produce rather than consume as I'm still in the game as 2016 comes to a close. My goal is to end 2017 on a positive note and a positive mindset is key as I've been hatching Lapras, Pikachua, Dratini, Elekid, Magby etc just by thinking how nice it would be to have them to complete my Pokedex. I'm thinking of not playing it after I heard that there are more than 700 monsters and a region exclusive could be based in Antarctica! Now if only I apply that positive thinking to thoughts like how nice it would be to become a millionaire through trading ;D

Comments

  1. Joyce

    Greetings and a Wonderful New Year to you!


    Feels good right?

    When we treat trading as a craft and give it its due respect, there is pleasure and fulfilment when we see our skills improving.

    Improving our entries; improving our exits.

    Everything else will take care of themselves ;)


    ReplyDelete
    Replies
    1. I treat trading with tons of respect because if I'm not careful I go from a plus to a minus and I don't want that! Yes get the basics and foundation right and everything else will be alright

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