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Tuesday, 22 August 2017

Leslie Kee - From Rental Flat To $40K Daily As Top Photographer


Finally an article from our "nation building press" that resonates in my heart:


It Changed My Life: How Leslie Kee went from living in rental flat to earning $40k daily as top photographer 



The "ugly" side of our "financial freedom" (formerly aka I want to be a millionaire) community is the frequent obsession with money. 

Crass. Banal. Bourgeois.



Especially when I read those "financial advice" to youths who have asked the "wrong" question about life. 


 
Of course there is bias in highlighting this article. 

We tend to identify with others with similar backgrounds and experiences.

Compared to Leslie's childhood, mine would be like to be born with a silver spoon!

Talk about playing the cards you were dealt well...

If you were in his shoes, would you have just rolled-over and gave up?

Many did.

Drugs, gangs, crime. 



There's some take-aways that I would like to share with youths who have gotten the "wrong answers".

Remember, if the answers did not came from within you, they are usually platitudes parrot by drones and mules. Full of sound and fury, signifying nothing...



1.  We got to pay our dues

Michael Leong - founder of ShareInvestor.com also washed dishes while taking his medical classes in Northern Ireland.

No, I don't mean literally you have to wash dishes... I didn't either!

But I too had to put in my fair share of blood, sweat, and toil just to be able to to afford the learning of my craft.

This is before the 10,000 hours needed to master our craft. 

Huh?

Yes. Don't huh me!

Unless of course you were born with a golden spoon. Grades lousy but parents can afford to send you overseas to get a degree with little academic respect... But you're a "graduate" still mah!



2.  Success is what we have to sacrifice to achieve it

If you can't spot it, don't worry.

In time you will. Especially when it comes to relationships.



3.  Life is a series of decision points

If you ask anyone who have lived life a little long than you, you'll often find them regretting more on the decisions they did not make over the ones they have made.

Would you make that move to New York, if given the chance?

Would you suffer for your craft even if it costs you your freedom?

Of course "New York" and "personal freedom" are metaphors again.

Tip: If no one asks or headhunts you in your industry, I think you know the reasons why... Its either you are very mediocre, or super brilliant but clueless on "personal marketing"!



4.  A scholar in every profession

Trust in our 5,000 years of collective Chinese wisdom: 行行出状元!

There's another Chinese wisdom that says women afraid to marry the wrong man; man afraid to enter the wrong profession.

If you decide to choose Money, I can understand. 

Its easier to aspire to be a "prostitue". Who wants to toil for our craft?

I understand. I'm a man-whore myself.



 



Wednesday, 16 August 2017

Why I Use Stop-Loss


One reason we keep a record of our trades is so we can make logical decisions based on real data - not our biases or what other people say.

You know what?

7 out of 10 trades I've made, if I stomach the unrealised losses and "cheat" as in wait-and-hope for weeks, months, and years (let a trade turned into an investment), these losing trades will eventually be money making ones.

So why do I still use stop-loss to realise the actual loss?



Its because I remember vividly those 3 out of 10 trades that almost killed me! 

I've let a small paper cut turned gangrenous...

Eventually having to chop off my fingers...

Better this than to lose a whole arm or leg right?

Some traders never do and let the poison reach their hearts. And they are heard no more...



So whether to use stop-loss or not for you is not through listening to others or reading books.

You have to experiment for yourself and let your track record tell you - based on hard data. 

Crash got sound.



If you are so good at stock-picking (just lousy at entries) and all your trades will eventually make money, why use stop-loss to protect yourself?

Or if you are skilled at finding 10 baggers to dilute out those occasional small losses like Peter Lynch, why use stop-loss indeed!



That's why whenever I'm in a new job, I prefer to ask for forgiveness than permission. This way, I can flush out the unwritten law of the land - when I still have my honeymoon period!

Crash got sound!

LOL!




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