Yes, I've heard other versions of similar quotes...
When STI around 1,500 in 2009, some were waiting for it to go below 1,000 before buying. Needless to say, these people were those who have experienced the 97 meltdown...
That's not patient. It's being blinded by anchoring bias...
patient means want to do something but can't cos you wait, you put presure onto yourself, the more patient you are, the more presure you got, thats negative for trading and in certain extent, to investing as well.
that is why it is so bloody important that you take out money out of the equation in trading so that you do not need to presure yourself into being patient.
and don't mistaken that when you see someone buy at the bottom (like in my case of asiason) means i have lots of patient to wait for the right moment to get in.
thats absolutely nonsense! i don't care a bit of where these stocks were traded. i don't wait for them.
We should watch we do not hide behind "patience" for our inability (fear, ignorance, etc) to squeeze the trigger - that again is the Mind part that differentiates good traders from retail wannabes.
Opportunity comes to those who are PREPARED.
Being prepared means we recognise the "right moment" has arrived ;)
Those who believe STI will zoom to 4,000; and those who believe STI is topping out and going back down to 2,800 are both patiently waiting.
One is to buy the break-out; the other to fade the rally.
Some analysts said, look at the chart and do not obstinate. That’s why most ends up procrastinate.
Are you ready to commit? Just do it?
People on the other side (Dow Jones) are having fun. But STI is still in the dun.
It is all about timing. All because STI is going through priming.
Invest, if you must. Just make sure not getting crushed. Do remember to book the profit. As it is a good habit. Cut loss, if it’s a strategy you must take. When too much is at stake
Patience is not a nasty word. It is probably the way forward.
By observation l have my reservation Day by day l will do it my way
How to measure the Level of Patience?
ReplyDeleteIn weeks, months, years or decades?
Someone told me she has been waiting for it to happen since Oct 2010?
So what is exactly Patience?
CW,
DeleteYou tell me, you're the fisherman ;)
Well, Nasdaq took 13 years to recapture 4,000.
For those who bought low cost passive index funds or ETFs at 4,000, is that enough "I am a long term investor" thinking for you?
It's not fun when the goal of long term investing is to breakeven... (we be nice - we use nominal terms, not inflation adjusted)
Patience to buy good.
Patience to sell good.
Hoping and praying not so good.
my buddy famous quote "SIA once was $2", so he patiently wait for the price haha.
ReplyDeletei hear so many people quoted this in trading, patience pays. if i apply this to my trading all the time, i long long went out of business!
patience is a double edge sword my friend!
Deletehaha carpet booming!
DeleteYes, I've heard other versions of similar quotes...
DeleteWhen STI around 1,500 in 2009, some were waiting for it to go below 1,000 before buying. Needless to say, these people were those who have experienced the 97 meltdown...
That's not patient. It's being blinded by anchoring bias...
i'll put it in trading terms.
Deletepatient means want to do something but can't cos you wait, you put presure onto yourself, the more patient you are, the more presure you got, thats negative for trading and in certain extent, to investing as well.
that is why it is so bloody important that you take out money out of the equation in trading so that you do not need to presure yourself into being patient.
and don't mistaken that when you see someone buy at the bottom (like in my case of asiason) means i have lots of patient to wait for the right moment to get in.
Deletethats absolutely nonsense! i don't care a bit of where these stocks were traded. i don't wait for them.
unless you are talking about CW waiting for his next dividend payout which always be late and not enough.
Deletethat one you need patient haha.
coconut,
Delete2 sides of the same coin - patience and right moment.
For Asiasons, you were focusing on the right moment ;)
Too much planning is like too much patience; no action...
I abandoned goal settings as I discover I am being shackled by them.
I focus on AWARENESS in the here and now.
Where I will end up depends more on the decisions I make (or fail to make) today ;)
That's the reason for this post to remind myself:
Do the RIGHT thing at the RIGHT moment.
Patience. Sit tight. Do nothing. I should do more of these!
LOL!
so long as you know what you are doing, and not looking at others, it will be fine.
Deleteno mistake (not no losses), no regret and don't look back.
oh and i don't care what others think, this is absolutely my best version of all!
Deletehttp://www.youtube.com/watch?v=PyBS_1vGwpU
why? cos you never says things like
Delete"my light bolt is better than the eddision invented one"!
coconut,
DeleteI still prefer our SG versions of wanton noodles even if they are not "original as Guangzhou's or HK ones ;)
The purist in HK must be choking to learn we have "dry" wanton noodles!? LOL!
SMOL,
ReplyDeleteSometimes with too much patience it can translate into inaction... no?
ckw-I99,
DeleteWe should watch we do not hide behind "patience" for our inability (fear, ignorance, etc) to squeeze the trigger - that again is the Mind part that differentiates good traders from retail wannabes.
Opportunity comes to those who are PREPARED.
Being prepared means we recognise the "right moment" has arrived ;)
Those who believe STI will zoom to 4,000; and those who believe STI is topping out and going back down to 2,800 are both patiently waiting.
One is to buy the break-out; the other to fade the rally.
Patience ;)
Some analysts said, look at the chart and do not obstinate.
ReplyDeleteThat’s why most ends up procrastinate.
Are you ready to commit?
Just do it?
People on the other side (Dow Jones) are having fun.
But STI is still in the dun.
It is all about timing.
All because STI is going through priming.
Invest, if you must.
Just make sure not getting crushed.
Do remember to book the profit.
As it is a good habit.
Cut loss, if it’s a strategy you must take.
When too much is at stake
Patience is not a nasty word.
It is probably the way forward.
By observation
l have my reservation
Day by day
l will do it my way
Money Honey :)
DeleteRoom! Poet in the house!
I salute (with my right hand OK? Don't give me that look..)!
Cheers!
Hi SMOL,
ReplyDeleteTeo Chew saying:- "Tan Koo Koo Choo Hoo" ? Please explain Hoo Ahsi Boh? Forgive me for my lousy Hanyi Pingin.
temperament,
ReplyDeleteIt's tough to write in Teochew using England!
Dan Gu Gu Tsu Wu? Wait long long will have?
Wu Ah Si Bor? Have or not?
Well, it depends whether you treat this Teochew saying as a "poke" or an "advice".
LOL!