It has been seven months since I embarked on a journey to learn stocks trading in the Philippine Stocks Market. I started this journey in March 2019. I've written my declaration [here]. From the start, I wanted to share this journey with those OFWs who shared the same goal -- to retire rich and go back to the Philippines for good. To those OFWs who wanted to utilize the capital market through stocks trading to achieve the above-mentioned goal.
I may or may not succeed in stocks trading. But I'm stubborn with my goal. I wanted to retire with "something" from "nothing'. I don't want to end up begging from someone for my needs during my retirement days. Not even to my relatives. Not even to my kids.
Stock Trading is just one vehicle to achieve this goal. The main vehicle, of course, is my monthly paycheck as an OFW, which will be gone during retirement. I need sources of income after retirement. It could be a passive or active income in nature. Stock trading could be one, and I'm still learning/searching for other sources of income.
This blog is my journal and documentation of my success or failure in my stock trading journey. If you are an OFW who embarks on the same journey, then join me and let's learn together.
So far, I lost a total of 30% of the capital I allotted to stocks trading. In my own assessment based on the current PSE market conditions, and as a newbie, I'm still happy I survived without wiping out the whole account. What about you? What is your assessment based on your own trading performance in relation to the current market condition? I'm listening to your assessment too. Feel free to comment below.
I would like to thank Traders Lounge, a facebook group I joined. I followed the 8K challenge to minimize risk while still learning to trade. This group's advocacy is super! They wanted to help traders for free. Absolutely free. A few words from Ms. GandaKo or Nadie Importante, the leader of Trader's Lounge.
"Everything I do is for free. I was once a newbie. I went to a whole lot of depression and crying my first three years due to losses and someone helped me out for free. So everything I do now is me paying it forward," GandaKo wrote on her FB post.
So, if you wanted to learn for free and know the gruesome truth about stocks trading... Go and join the group. Below are the links.
Although I lost 30% of my portfolio in return I learned the following so far from my own research, readings, and learnings from Trader's Lounge.
- Risk management.
- Solid trading system.
- Trading strategies.
- Trading Psychology.
- Indicators.
- Patterns.
- Time Frames.
I also created a YouTube channel so that I can share charts of my every trade. Win or Loss trades I will be sharing. I assure you. Unlike those mentors, gurus luring newbie traders to their paid seminars only showed the winning side of their trades.
Lastly, in this coming new year, my focus would be the following:
- Trusting the system I learned.
- Fine-tuning execution, with the goal to eliminate emotion.
- Backtesting, forward testing, screening.
- Risk management first.
Merry Christmas and a happy new year!
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