I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!


Click to email CW8888 or Email ID : jacobng1@gmail.com



Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down



Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Monday 9 July 2012

He won $70K in a day; but lost so much more

Sat, July 7, 2012, ST

Sleepless. he had gone to the casino one night in Jun 2010. He won $1,000 that night and another $1,000 the following day. On the third day, he won $70,000 and "it changed my life, he recalled.

But his winning streak quickly turned into a long run of losses, and soon, he was steeped in debt, owing $70,000 to banks, money-lenders, friends, distant relatives and family members.

Createwealth8888:

Sometime in life, our easy and big winning may not turn out to be a good thing; but may one day come back to haunt us even more.

In 2007, I bet big and won big. Of course, I thought I finally discovered the Secret of making money in the stock market and become rich from stocks.

Feb 07: $36K
May 07: $23K
Jul 07: $28K
Oct 07: $16K

Lowest win was $2.6K

But in 2008 I lost all back to the market and even more just like the man above.


The Moral of the Story

It is usually our initial big winning that may eventually lead us to our SUPER losses when we think that we may have found the SECRET.

Our initial big losses may actually be a blessing in disguise to prevent us from doing more foolish thing in the future.
















1 comment:

  1. thats a very common thing amoung traders. the way i handle it is not to get excited at the time of winning, no matter how much. so when the losing comes which guanrantee it will come, i can handle it better and not got wash out.

    ReplyDelete

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