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For the contra players....

I don't understand why people want to play contra, with money that you cannot afford to lose. You win big, you lose big too. It's like a zero sum game, since there is always a loser when there is a winner. End of the day, in the long term, only 2 people actually made money, your brokerage and SGX, and somethings, the company's directors and CEO who ran away with your money. 

SGX for pennies is like a casino, with SGX acting like the dealer and the players played against each other. When SGX is happy, they stopped the game and collect money from all players.

I thought Forex will be a better place to play, if one likes the excitement of contra. At least not much people can manipulate the market and there is no such thing as suspension or halt and it trades 24 hours a day. 

 

 

 

Be strong, money can always make back....

paulr0x      ( Date: 07-Oct-2013 13:11) Posted: Bro, how much u lost? I have lost quite a bit too....:( Sofarsogood?      ( Date: 07-Oct-2013 12:24) Posted: This is the time when to live on and face the problems with courage is harder and tougher than to die. Putting repayment of debts aside, I still can't forgive myself for what I have done that directly or indirectly caused to my family. I just can't forgive myself... I am also very lost whether should I leave my family and settle everything with myself, or should I stay. If I stay, my family will be affected too. This is really bad... This is really the greatest mistake that I have made in life!

 

Bro, how much u lost? I have lost quite a bit too....:(

Sofarsogood?      ( Date: 07-Oct-2013 12:24) Posted: This is the time when to live on and face the problems with courage is harder and tougher than to die. Putting repayment of debts aside, I still can't forgive myself for what I have done that directly or indirectly caused to my family. I just can't forgive myself... I am also very lost whether should I leave my family and settle everything with myself, or should I stay. If I stay, my family will be affected too. This is really bad... This is really the greatest mistake that I have made in life!

 

fund the acct and use that as ur trading limits. never use up the limits brokers give u, stick to the amount u have in ur trust balance to trade so u wont have to worry about due dates or worst case... force-selling.

 

be strong,your emotion will settle in a week. as long dont gamble,you should be able to pay your debts within few years.

medivh      ( Date: 07-Oct-2013 00:22) Posted: I also cut and paste here. lol There are many good warnings after last friday.. one guys say lost nearly 200k nearly wan to die.. another one say key wrongly cause broker force him to key in.. Play Contra is so dangerous.. its almost akin to putting lil bro to every hole u see and hoping u wont get aids/VD, just because you think only go in and out very short while, low risk high satisfaction... (," ) Really DON'T RISK IT ALL playing contra, DYODD also means DEFEND YOUR OWN DI DI. (" ,) SFGuyRuleZ      ( Date: 06-Oct-2013 01:03) Posted: Copied and paste from what I posted just now in " Any Stocks Also Can Discuss Forum" , - just for sharing purposes.. " Contra can be really fun and addictive, and can also allow one to earn lots of money out from nothingness. However, it can also allow one to lose more than he/she can afford. True that some traders are really good and can earn alot from contra, but this kind of " game" is really too dangerous for most people. Therefore, in my own humble opinion, even if one is very good in contra, he/she should never promote or emphasize the merits of contra as it is just too dangerous. The gambling addiction will start once a person loses money, and he/she wants to contra more and cover back their losses. Even for those who are really good and can easily win alot from contra, they will have the idealogy that riches come easy. Some may not even want to work for the rest of their life. If everyone just stay at home to contra, what will this world and the economy become? But, I do admit that sometimes, playing contra just abit as a healthy and leisure form of gambling is really alright, like what some said - to earn kopi money. Furthermore, playing with a stop loss and being not greedy, it should really be fine. But trying to make a living out from contra and to get rich super fast is just not too right, in my opinion. You are right when you say that the longer you keep, it doesn't mean the more you make. When back to investing, one should always ask himself/herself the intention in the first place why he/she invested that sum of money in the stock. Is it for capital gain? Or is it for dividend yield? What prospects or fundamentals did he/she see in that business that one is able to invest that sum of money in it? If the fundamentals of the business have changed, whether higher debt, poorer earnings, competitors, outdated technology, overall bad market outlook, lousy management, etc..., and they are no longer in line of what you see when you first invested, one should always start to sell and look for other better opportunities. Having said, for investing for long term, it is always better to invest in companies that are undervalued and gives dividends. For capital gain and growing companies that does not give dividends or that give low-yield dividends, and their earnings are already stable for many years with limited growth, one can then valuate them according to their dividend yield and risk or debt level. If the yield is too poor despite being cash rich and stable earnings, I would also sell for I no longer see the value in that company. Blue chip companies in general give about 3 - 4% dividend yield. Not here to challenge anyone, but after yesterday's bloodbath and some of the new threads here in SJ, I can't help thinking of myself and another older friend of mine who once also contra, trying to get rich fast. I even went to the extreme of tapping into my credit and cashline limits to tank my losses. When you contra, you really do not have the holding power and market is always uncertain. And you can never gauge how market reacts to certain news, or when some news suddenly pop out. I am lucky to lose only a little before I wake up. Anyway I am also not here to preach, and I am actually only 26 (turning 27 this year), despite from some PMs that people thought I am already very old. I don't dare to say I know alot about stocks and investing, but I have taken an interest in investing since young and have done paper trades before I started real investing. I am also lucky to have my uncles who are businessmen  and taught me alot about shares and investing. So this is just to share a little about me also, if that matters. Cheers!! =)"

 

This is the time when to live on and face the problems with courage is harder and tougher than to die. Putting repayment of debts aside, I still can't forgive myself for what I have done that directly or indirectly caused to my family. I just can't forgive myself... I am also very lost whether should I leave my family and settle everything with myself, or should I stay. If I stay, my family will be affected too. This is really bad... This is really the greatest mistake that I have made in life!

 

I also cut and paste here. lol

There are many good warnings after last friday.. one guys say lost nearly 200k nearly wan to die.. another one say key wrongly cause broker force him to key in.. Play Contra is so dangerous.. its almost akin to putting lil bro to every hole u see and hoping u wont get aids/VD, just because you think only go in and out very short while, low risk high satisfaction... (," ) Really DON'T RISK IT ALL playing contra, DYODD also means DEFEND YOUR OWN DI DI. (" ,)

SFGuyRuleZ      ( Date: 06-Oct-2013 01:03) Posted: Copied and paste from what I posted just now in " Any Stocks Also Can Discuss Forum" , - just for sharing purposes.. " Contra can be really fun and addictive, and can also allow one to earn lots of money out from nothingness. However, it can also allow one to lose more than he/she can afford. True that some traders are really good and can earn alot from contra, but this kind of " game" is really too dangerous for most people. Therefore, in my own humble opinion, even if one is very good in contra, he/she should never promote or emphasize the merits of contra as it is just too dangerous. The gambling addiction will start once a person loses money, and he/she wants to contra more and cover back their losses. Even for those who are really good and can easily win alot from contra, they will have the idealogy that riches come easy. Some may not even want to work for the rest of their life. If everyone just stay at home to contra, what will this world and the economy become? But, I do admit that sometimes, playing contra just abit as a healthy and leisure form of gambling is really alright, like what some said - to earn kopi money. Furthermore, playing with a stop loss and being not greedy, it should really be fine. But trying to make a living out from contra and to get rich super fast is just not too right, in my opinion. You are right when you say that the longer you keep, it doesn't mean the more you make. When back to investing, one should always ask himself/herself the intention in the first place why he/she invested that sum of money in the stock. Is it for capital gain? Or is it for dividend yield? What prospects or fundamentals did he/she see in that business that one is able to invest that sum of money in it? If the fundamentals of the business have changed, whether higher debt, poorer earnings, competitors, outdated technology, overall bad market outlook, lousy management, etc..., and they are no longer in line of what you see when you first invested, one should always start to sell and look for other better opportunities. Having said, for investing for long term, it is always better to invest in companies that are undervalued and gives dividends. For capital gain and growing companies that does not give dividends or that give low-yield dividends, and their earnings are already stable for many years with limited growth, one can then valuate them according to their dividend yield and risk or debt level. If the yield is too poor despite being cash rich and stable earnings, I would also sell for I no longer see the value in that company. Blue chip companies in general give about 3 - 4% dividend yield. Not here to challenge anyone, but after yesterday's bloodbath and some of the new threads here in SJ, I can't help thinking of myself and another older friend of mine who once also contra, trying to get rich fast. I even went to the extreme of tapping into my credit and cashline limits to tank my losses. When you contra, you really do not have the holding power and market is always uncertain. And you can never gauge how market reacts to certain news, or when some news suddenly pop out. I am lucky to lose only a little before I wake up. Anyway I am also not here to preach, and I am actually only 26 (turning 27 this year), despite from some PMs that people thought I am already very old. I don't dare to say I know alot about stocks and investing, but I have taken an interest in investing since young and have done paper trades before I started real investing. I am also lucky to have my uncles who are businessmen  and taught me alot about shares and investing. So this is just to share a little about me also, if that matters. Cheers!! =)"

 

Thanks Bro WanSiTong. Do also keep up with your jovial postings. Wish everyone a better week ahead. Cheers!!

WanSiTong      ( Date: 06-Oct-2013 18:00) Posted: Ya, I tot that you are in mid 30! Keep it up ........ young man! Oldbird      ( Date: 06-Oct-2013 08:43) Posted: I am astonished to learn that you are only 27 after reading your post, you seem not only having knowledge n experience, you also have the good heart. Keep up.....young....young brothe

 

Ya, I tot that you are in mid 30! Keep it up ........ young man!

Oldbird      ( Date: 06-Oct-2013 08:43) Posted: I am astonished to learn that you are only 27 after reading your post, you seem not only having knowledge n experience, you also have the good heart. Keep up.....young....young brother SFGuyRuleZ      ( Date: 06-Oct-2013 01:03) Posted: Copied and paste from what I posted just now in " Any Stocks Also Can Discuss Forum" , - just for sharing purposes.. " Contra can be really fun and addictive, and can also allow one to earn lots of money out from nothingness. However, it can also allow one to lose more than he/she can afford. True that some traders are really good and can earn alot from contra, but this kind of " game" is really too dangerous for most people. Therefore, in my own humble opinion, even if one is very good in contra, he/she should never promote or emphasize the merits of contra as it is just too dangerous. The gambling addiction will start once a person loses money, and he/she wants to contra more and cover back their losses. Even for those who are really good and can easily win alot from contra, they will have the idealogy that riches come easy. Some may not even want to work for the rest of their life. If everyone just stay at home to contra, what will this world and the economy become? But, I do admit that sometimes, playing contra just abit as a healthy and leisure form of gambling is really alright, like what some said - to earn kopi money. Furthermore, playing with a stop loss and being not greedy, it should really be fine. But trying to make a living out from contra and to get rich super fast is just not too right, in my opinion. You are right when you say that the longer you keep, it doesn't mean the more you make. When back to investing, one should always ask himself/herself the intention in the first place why he/she invested that sum of money in the stock. Is it for capital gain? Or is it for dividend yield? What prospects or fundamentals did he/she see in that business that one is able to invest that sum of money in it? If the fundamentals of the business have changed, whether higher debt, poorer earnings, competitors, outdated technology, overall bad market outlook, lousy management, etc..., and they are no longer in line of what you see when you first invested, one should always start to sell and look for other better opportunities. Having said, for investing for long term, it is always better to invest in companies that are undervalued and gives dividends. For capital gain and growing companies that does not give dividends or that give low-yield dividends, and their earnings are already stable for many years with limited growth, one can then valuate them according to their dividend yield and risk or debt level. If the yield is too poor despite being cash rich and stable earnings, I would also sell for I no longer see the value in that company. Blue chip companies in general give about 3 - 4% dividend yield. Not here to challenge anyone, but after yesterday's bloodbath and some of the new threads here in SJ, I can't help thinking of myself and another older friend of mine who once also contra, trying to get rich fast. I even went to the extreme of tapping into my credit and cashline limits to tank my losses. When you contra, you really do not have the holding power and market is always uncertain. And you can never gauge how market reacts to certain news, or when some news suddenly pop out. I am lucky to lose only a little before I wake up. Anyway I am also not here to preach, and I am actually only 26 (turning 27 this year), despite from some PMs that people thought I am already very old. I don't dare to say I know alot about stocks and investing, but I have taken an interest in investing since young and have done paper trades before I started real investing. I am also lucky to have my uncles who are businessmen  and taught me alot about shares and investing. So this is just to share a little about me also, if that matters. Cheers!! =)"

 

Hi Oldbird. Thanks for your compliment. Everyday, I am still learning from many sifus here in SJ. And to some other sifus I may have rashly offended in the past, once again, my sincere applogies. Cheers and have a lovely Sunday everyone!! =)

Oldbird      ( Date: 06-Oct-2013 08:43) Posted: I am astonished to learn that you are only 27 after reading your post, you seem not only having knowledge n experience, you also have the good heart. Keep up.....young....young brother SFGuyRuleZ      ( Date: 06-Oct-2013 01:03) Posted: Copied and paste from what I posted just now in " Any Stocks Also Can Discuss Forum" , - just for sharing purposes.. " Contra can be really fun and addictive, and can also allow one to earn lots of money out from nothingness. However, it can also allow one to lose more than he/she can afford. True that some traders are really good and can earn alot from contra, but this kind of " game" is really too dangerous for most people. Therefore, in my own humble opinion, even if one is very good in contra, he/she should never promote or emphasize the merits of contra as it is just too dangerous. The gambling addiction will start once a person loses money, and he/she wants to contra more and cover back their losses. Even for those who are really good and can easily win alot from contra, they will have the idealogy that riches come easy. Some may not even want to work for the rest of their life. If everyone just stay at home to contra, what will this world and the economy become? But, I do admit that sometimes, playing contra just abit as a healthy and leisure form of gambling is really alright, like what some said - to earn kopi money. Furthermore, playing with a stop loss and being not greedy, it should really be fine. But trying to make a living out from contra and to get rich super fast is just not too right, in my opinion. You are right when you say that the longer you keep, it doesn't mean the more you make. When back to investing, one should always ask himself/herself the intention in the first place why he/she invested that sum of money in the stock. Is it for capital gain? Or is it for dividend yield? What prospects or fundamentals did he/she see in that business that one is able to invest that sum of money in it? If the fundamentals of the business have changed, whether higher debt, poorer earnings, competitors, outdated technology, overall bad market outlook, lousy management, etc..., and they are no longer in line of what you see when you first invested, one should always start to sell and look for other better opportunities. Having said, for investing for long term, it is always better to invest in companies that are undervalued and gives dividends. For capital gain and growing companies that does not give dividends or that give low-yield dividends, and their earnings are already stable for many years with limited growth, one can then valuate them according to their dividend yield and risk or debt level. If the yield is too poor despite being cash rich and stable earnings, I would also sell for I no longer see the value in that company. Blue chip companies in general give about 3 - 4% dividend yield. Not here to challenge anyone, but after yesterday's bloodbath and some of the new threads here in SJ, I can't help thinking of myself and another older friend of mine who once also contra, trying to get rich fast. I even went to the extreme of tapping into my credit and cashline limits to tank my losses. When you contra, you really do not have the holding power and market is always uncertain. And you can never gauge how market reacts to certain news, or when some news suddenly pop out. I am lucky to lose only a little before I wake up. Anyway I am also not here to preach, and I am actually only 26 (turning 27 this year), despite from some PMs that people thought I am already very old. I don't dare to say I know alot about stocks and investing, but I have taken an interest in investing since young and have done paper trades before I started real investing. I am also lucky to have my uncles who are businessmen  and taught me alot about shares and investing. So this is just to share a little about me also, if that matters. Cheers!! =)"

 

fund the acct and use that as ur trading limits. never use up the limits brokers give u, stick to the amount u have in ur trust balance to trade so u wont have to worry about due dates or worst case... force-selling.

 

Alot of times... Say is easy...
And I also very sure many people here are not stupid, in fact many stock players are smart people and know contra etc is dangerous ...
End of the day say is easy but practice is hard lol
Many of us knows deep down....

Oldbird      ( Date: 06-Oct-2013 08:43) Posted: I am astonished to learn that you are only 27 after reading your post, you seem not only having knowledge n experience, you also have the good heart. Keep up.....young....young brother SFGuyRuleZ      ( Date: 06-Oct-2013 01:03) Posted: Copied and paste from what I posted just now in " Any Stocks Also Can Discuss Forum" , - just for sharing purposes.. " Contra can be really fun and addictive, and can also allow one to earn lots of money out from nothingness. However, it can also allow one to lose more than he/she can afford. True that some traders are really good and can earn alot from contra, but this kind of " game" is really too dangerous for most people. Therefore, in my own humble opinion, even if one is very good in contra, he/she should never promote or emphasize the merits of contra as it is just too dangerous. The gambling addiction will start once a person loses money, and he/she wants to contra more and cover back their losses. Even for those who are really good and can easily win alot from contra, they will have the idealogy that riches come easy. Some may not even want to work for the rest of their life. If everyone just stay at home to contra, what will this world and the economy become? But, I do admit that sometimes, playing contra just abit as a healthy and leisure form of gambling is really alright, like what some said - to earn kopi money. Furthermore, playing with a stop loss and being not greedy, it should really be fine. But trying to make a living out from contra and to get rich super fast is just not too right, in my opinion. You are right when you say that the longer you keep, it doesn't mean the more you make. When back to investing, one should always ask himself/herself the intention in the first place why he/she invested that sum of money in the stock. Is it for capital gain? Or is it for dividend yield? What prospects or fundamentals did he/she see in that business that one is able to invest that sum of money in it? If the fundamentals of the business have changed, whether higher debt, poorer earnings, competitors, outdated technology, overall bad market outlook, lousy management, etc..., and they are no longer in line of what you see when you first invested, one should always start to sell and look for other better opportunities. Having said, for investing for long term, it is always better to invest in companies that are undervalued and gives dividends. For capital gain and growing companies that does not give dividends or that give low-yield dividends, and their earnings are already stable for many years with limited growth, one can then valuate them according to their dividend yield and risk or debt level. If the yield is too poor despite being cash rich and stable earnings, I would also sell for I no longer see the value in that company. Blue chip companies in general give about 3 - 4% dividend yield. Not here to challenge anyone, but after yesterday's bloodbath and some of the new threads here in SJ, I can't help thinking of myself and another older friend of mine who once also contra, trying to get rich fast. I even went to the extreme of tapping into my credit and cashline limits to tank my losses. When you contra, you really do not have the holding power and market is always uncertain. And you can never gauge how market reacts to certain news, or when some news suddenly pop out. I am lucky to lose only a little before I wake up. Anyway I am also not here to preach, and I am actually only 26 (turning 27 this year), despite from some PMs that people thought I am already very old. I don't dare to say I know alot about stocks and investing, but I have taken an interest in investing since young and have done paper trades before I started real investing. I am also lucky to have my uncles who are businessmen  and taught me alot about shares and investing. So this is just to share a little about me also, if that matters. Cheers!! =)"

 

I am astonished to learn that you are only 27 after reading your post, you seem not only having knowledge n experience, you also have the good heart. Keep up.....young....young brother

SFGuyRuleZ      ( Date: 06-Oct-2013 01:03) Posted: Copied and paste from what I posted just now in " Any Stocks Also Can Discuss Forum" , - just for sharing purposes.. " Contra can be really fun and addictive, and can also allow one to earn lots of money out from nothingness. However, it can also allow one to lose more than he/she can afford. True that some traders are really good and can earn alot from contra, but this kind of " game" is really too dangerous for most people. Therefore, in my own humble opinion, even if one is very good in contra, he/she should never promote or emphasize the merits of contra as it is just too dangerous. The gambling addiction will start once a person loses money, and he/she wants to contra more and cover back their losses. Even for those who are really good and can easily win alot from contra, they will have the idealogy that riches come easy. Some may not even want to work for the rest of their life. If everyone just stay at home to contra, what will this world and the economy become? But, I do admit that sometimes, playing contra just abit as a healthy and leisure form of gambling is really alright, like what some said - to earn kopi money. Furthermore, playing with a stop loss and being not greedy, it should really be fine. But trying to make a living out from contra and to get rich super fast is just not too right, in my opinion. You are right when you say that the longer you keep, it doesn't mean the more you make. When back to investing, one should always ask himself/herself the intention in the first place why he/she invested that sum of money in the stock. Is it for capital gain? Or is it for dividend yield? What prospects or fundamentals did he/she see in that business that one is able to invest that sum of money in it? If the fundamentals of the business have changed, whether higher debt, poorer earnings, competitors, outdated technology, overall bad market outlook, lousy management, etc..., and they are no longer in line of what you see when you first invested, one should always start to sell and look for other better opportunities. Having said, for investing for long term, it is always better to invest in companies that are undervalued and gives dividends. For capital gain and growing companies that does not give dividends or that give low-yield dividends, and their earnings are already stable for many years with limited growth, one can then valuate them according to their dividend yield and risk or debt level. If the yield is too poor despite being cash rich and stable earnings, I would also sell for I no longer see the value in that company. Blue chip companies in general give about 3 - 4% dividend yield. Not here to challenge anyone, but after yesterday's bloodbath and some of the new threads here in SJ, I can't help thinking of myself and another older friend of mine who once also contra, trying to get rich fast. I even went to the extreme of tapping into my credit and cashline limits to tank my losses. When you contra, you really do not have the holding power and market is always uncertain. And you can never gauge how market reacts to certain news, or when some news suddenly pop out. I am lucky to lose only a little before I wake up. Anyway I am also not here to preach, and I am actually only 26 (turning 27 this year), despite from some PMs that people thought I am already very old. I don't dare to say I know alot about stocks and investing, but I have taken an interest in investing since young and have done paper trades before I started real investing. I am also lucky to have my uncles who are businessmen  and taught me alot about shares and investing. So this is just to share a little about me also, if that matters. Cheers!! =)"

 

Just to share some pointers before investing in a company:

1) Chart and technical analysis, support and resistance levels, uptrend/downtrend, ascending triangle, descending triangle, double peak, double bottom, etc?

2) Acid Test ratio

3) Current ratio

4) Net Debt to Net Income(excluding any extraordinary gains and deducting income taxes, interest expense, etc?) ratio

5) Debt to equity ratio

6) How much of revenue is in the form of trade receivables? How long does it take to receive back those money? Is there any bad debt that cannot be recovered?

7) Dividend yield

8) Discounted Cashflow Valuation (DCF), earnings per share, free operating cashflow, etc?

9) Industry outlook or prospects


10) Supply/demand underpinning the goods/services

11) Currency effects ? costs of imports from other countries and revenue from where goods are produced and later sold. What kind of currency is the revenue and profits denominated in?

12) Type of business, market, market share, competitors, etc?

13) Can company maintain at least same revenue and profit, or is it cyclical?

14) When results are not as good as expected, what?s the underlying cause? Will it affect long-term profitability?

15) Does the annual report sound convincing to you? Is it in line with what you see and believe also?

16) Shareholders and shareholdings. How much is public float? Is a large percentage of shares in the hands of one shareholder only?

17) For yearly revenue taken into account for DCF valuation, is order book > yearly revenue used?

18) Volatility of the stock and how strongly it reacts to news, especially negative news

19) Average volume traded 

Thanks.. =)

 

Copied and paste from what I posted just now in " Any Stocks Also Can Discuss Forum" , - just for sharing purposes..


" Contra can be really fun and addictive, and can also allow one to earn lots of money out from nothingness. However, it can also allow one to lose more than he/she can afford. True that some traders are really good and can earn alot from contra, but this kind of " game" is really too dangerous for most people. Therefore, in my own humble opinion, even if one is very good in contra, he/she should never promote or emphasize the merits of contra as it is just too dangerous. The gambling addiction will start once a person loses money, and he/she wants to contra more and cover back their losses. Even for those who are really good and can easily win alot from contra, they will have the idealogy that riches come easy. Some may not even want to work for the rest of their life. If everyone just stay at home to contra, what will this world and the economy become?

But, I do admit that sometimes, playing contra just abit as a healthy and leisure form of gambling is really alright, like what some said - to earn kopi money. Furthermore, playing with a stop loss and being not greedy, it should really be fine. But trying to make a living out from contra and to get rich super fast is just not too right, in my opinion.

You are right when you say that the longer you keep, it doesn't mean the more you make. When back to investing, one should always ask himself/herself the intention in the first place why he/she invested that sum of money in the stock. Is it for capital gain? Or is it for dividend yield? What prospects or fundamentals did he/she see in that business that one is able to invest that sum of money in it? If the fundamentals of the business have changed, whether higher debt, poorer earnings, competitors, outdated technology, overall bad market outlook, lousy management, etc..., and they are no longer in line of what you see when you first invested, one should always start to sell and look for other better opportunities. Having said, for investing for long term, it is always better to invest in companies that are undervalued and gives dividends. For capital gain and growing companies that does not give dividends or that give low-yield dividends, and their earnings are already stable for many years with limited growth, one can then valuate them according to their dividend yield and risk or debt level. If the yield is too poor despite being cash rich and stable earnings, I would also sell for I no longer see the value in that company. Blue chip companies in general give about 3 - 4% dividend yield.

Not here to challenge anyone, but after yesterday's bloodbath and some of the new threads here in SJ, I can't help thinking of myself and another older friend of mine who once also contra, trying to get rich fast. I even went to the extreme of tapping into my credit and cashline limits to tank my losses. When you contra, you really do not have the holding power and market is always uncertain. And you can never gauge how market reacts to certain news, or when some news suddenly pop out. I am lucky to lose only a little before I wake up. Anyway I am also not here to preach, and I am actually only 26 (turning 27 this year), despite from some PMs that people thought I am already very old. I don't dare to say I know alot about stocks and investing, but I have taken an interest in investing since young and have done paper trades before I started real investing. I am also lucky to have my uncles who are businessmen  and taught me alot about shares and investing. So this is just to share a little about me also, if that matters. Cheers!! =)"

 

Looking at his concerns n complains, i think it is better he stops trading. he is complaining because, the brokers force buy his shares too early n that resulted in him having a lesser profit to cover his losses.

knowing that stocks can go up n down, one will wonder, whats if the stock goes up against him n end up further losses... n come to think for those who long instead, how they wish their brokers called them and force sell, so they end with lesser contra lost.

want to play contra or shorting the market, be prepared for losses,as winning money in the stock market is only 9.7%. so move on as people like him can never last long in such market... better leave the market than one day, you end up losing your life. 

Jacques      ( Date: 05-Oct-2013 02:12) Posted: I calling it quit. Already lost all savings :( Peter_Pan      ( Date: 05-Oct-2013 02:08) Posted: next week new trading week, trade with care, china will be back online..

 

Hi bro sofarsogood,

Once I was like you. When I started trading, the market was so good that you just anyhow buy you will any how huat.
Then it came to a day where thing changed, I lost so heavily that can remember the date. I could only linked it with Anwar. The day Anwar was arrested is the day I Toh. My parents was heart broken but they still standby me, it took me years to recover. At that time I cut everything, stock, 4D, horses etc. I told myself my luck had used up, money scare cold... time to work and pay back......

Recently I re-enter the market with some capital to invest and with a different mindset. I told myself that I'm not trading for a living, I ask my broker to set a limit to my account. I will refrain myself from short selling and not touch those counter that went up to fast and furious.....

Bro there're many out there just like us, is good that you've cut all your position which is the first step and is also the most important step. and next, never think of stock again until you have settle everything,

I've been through......
It not an easy path but with your family behind you, I'm sure you will make it.

Sofarsogood?      ( Date: 04-Oct-2013 14:56) Posted: Dear all, thank you very much for all your advice. I have just cut all my contra position. Although I should have cut yesterday than today. I seriously can't afford to take anymore exposure. I don't want to leave it open over the weekend. Yes - my goal now is repay all my debts and stand up again. I know it is going to be very very extremely tough and sour. My wife used very very nasty words to me, nonetheless, she help me to pick up some of my contra position too to reduce my loss. My mom cried and told me not to do anything silly. If I did, she will do the same. All of my family members decided to keep this apart from my father as afraid that he will get heart attack if he knows this. It is really very very bad. I promised my family members I fell down, cried, but I will stand up again.  All the best everyone. Take care and God bless.

 

no. it was just wasnt shorted by big players. not a target for sgx. was just collateral damage

Jacques      ( Date: 05-Oct-2013 02:29) Posted: Actually did Sgx forget to suspend innopac, which also drop more than 50%... broker also told me it is linked with blumont

 

Actually did Sgx forget to suspend innopac, which also drop more than 50%... broker also told me it is linked with blumont

 

yes better take a break from trading and focus on other things for now.

money can slowly earn back from work. 

Jacques      ( Date: 05-Oct-2013 02:12) Posted: I calling it quit. Already lost all savings :( Peter_Pan      ( Date: 05-Oct-2013 02:08) Posted: next week new trading week, trade with care, china will be back online..