I spoke to many people whom wanted to start trading. I find something. They are all very enthu abt trading.Cos they wanna mk money. That a good reason to trade... but not over enthu.1st know the risk then the reward.If you can take the risk then the reward is yours.
Worst thing i found out, they allocate some cash for investing. None for protection.
When ask what if you lost all the cash u allocate for investing. They reply, we are working ...so can earn back the money and invest again....I love this answer man...This are the people that belong to the 95% and i really hope i know what they trade for everything...bcos is so easy for me to guess their thinking and more easy for the big players.These people are the one that constantly providing cash into the market. They work hard and donate them to thse smart mkt player...it is like they are working for the market...hahaha
So plssss....dont do such things.They are basing on hope and luck analysis. They are blinded by the reward of the market and risk to them is not significant.I rather these people put cash onto protection and at least they can get back cash value (which have higher interest than fix D and bank deposit) when old than donating their hard earn money to the market.
For investing, they do not have a plan. They do not have a protection plan and over all plan on their capital for investment.This applies to the same to their life.Which mean their life can be like their investment capital, vapourise, eat up by others.Worst thing they dont seem to mind.To be frank, these are the people that is needed by the financial market bcos they will provide cash for winner.These loser will earn money and get back again.It a vicious cycle. And i would like to say, it the same for life.No protection, no plan for life. When something strike you, you are going to pull your family member into the mess. Pulling down all their financial ability.Then they have to work harder to fill the gap for the next few years.If you have no plan at all, then basically you dont know where you are heading.Maybe working for life, cant retire,furthest country visited is Thailand,paying house loan for life, your next generation is going to be like that too, etc
If financial planning ( not just about protection) is not important, than investing is bound to fail, Even i give you a million, without planning that million is nothing.Nobody plan to fail, but if you dont plan you will fail.And that is your life that you are failing.
Think thru, calculate, chart out, define your financial objective, talk more about money with people,plan and execute...
