Experience is important in trading/investing? The longer time u inside the investing world, the higher probability for you to success? I would say, certainly no, not at all.
When I start full invest after I work on 2006, I always ask myself, can I escape from the next financial crisis, since I already knew it too much during Asian Financial Crisis on 1997. The answer is no, although I earn some during 2007 bull, but almost all my money are inside Malaysia stock market now. Although I have good confident they won't go bankrupt, and is a good company, but seeing -40-50% in the paper lost is not a good feeling.
Can I pick a good buying point when crisis come? Seems like I failed again. I bought too early, when the 2008 subprime financial crisis start to burst, and certainly, I get burst also. Money and confident lost, when the market is panic, I am like the others. And miss the strongest rebound ever, from 9 March, 30% rebound from the bottom, and i din pick up any.
The most upset thing in trading, is not stock price down, is when the market up, and u are not in the boat. It really killed. Nothing to do now, just trying on paper trade, and wait patiently. Still a bit bearish about the market, at least not the bullish. I must earn back all my money in US, then I can consider pump in more into there.
Again, position sizing is important. I bet too big previously, which killed me when I missed once. And is a bit hard to recover, when ur capital and confident hurt. Thanks Tze, for keep on reminding me about position sizing. Thanks Lion, for accompany me on paper trade, your blog is awesome.
What is the most important in trading/investing, is discpline, determination, confident. Not how long u are in it. Some people, no matter how long they play dota, they are still NOOB, same in trading. We must learn from it.
