April 7, 2011- Celebrate Successes, Respect Elders and Be a Sponge

Celebrate your successes. – Once you’ve lightened down some of your gains, after an impressive run-up in the markets, I offer my unsolicited opinions.  😀 This is my blog so I can talk whatever I want.

(Understand the difference between selling and lightening: Read “Don’t fall in love“)

To the gentlemen:  Have a good dinner with your wives, or special someones.  Give her a gift.  Money cannot be eaten.  You have to spend it so that it gives happiness to your life.  Sometimes you have to buy yourself a gadget you’ve always wanted, a car you’ve always wanted to buy (just make sure you’ve earned it , and not from loans).  There’s a difference between spending like crazy, and spending just right.  Buy her a designer bag or a simple book that she’s dying to read.  These are simple gestures where money should be rightfully spent.  😀

Enjoy.

Celebrate others’ successes – Don’t be a crab.  When they make good trades, acknowledge that.  Because when they find a good possible trade, they’ll tell you about it.  People generally help other people who help them.  If you don’t trust me, then oh well.  😛

Respect your lolos/ lolas – Trading and real life intersect so much.

I can talk on and on and on every single day about trading, and I hope I don’t suffocate you but I guess that’s what passion really is all about.  You love talking about it.  You love sharing knowledge and giving back.  It’s the same for basketball players.  I know my friends who are past their “peak ages” and they still talk about basketball.  They still play.  They still enjoy.

Enjoy trading (if that’s what you think you love) and don’t ever forget that people are always there to help you, if you are willing to be helped.  I can only share my own stories, but I assure you that I’d love to hear your stories.  (Let’s stick to market-related stories, at least for the purpose of this blog).  Tell me your failures.  Tell me your successes.  I’d love a good story.  Just don’t make up stories alright?  Honesty is the best policy.

I have limited market experience (just 3 years) though I must say that having experienced two kinds of markets (Hong Kong and Philippines), I could have multiplied my experience into 4 years experience (due to different market environments of both).  I’ve always loved listening to older folks because the wisdom that they can impart to me will always be through their experiences.  They’ve underwent many cycles.  I’ll always gain a thing or two from them.  From their gains, and more importantly from their failures, I learn more and more.

Consider yourself lucky for having many lolo and lola market mentors 😀    Instead of dismissing them, listen and learn.  I didn’t know the blessings of blogging in the Philippines until this year.  Thank you.  I’ve met quite a number of passionate traders in the Philippines through this blog.  Now I love blogging, and sometimes my personal life gets sacrificed.  Now, I learned the value of anonymity.  If you know my real name, try not to address me as such 😀

Lastly, be a sponge. 

Absorb. Listen.  Retain what you think is essential.  Leave the residue.

I am a skittish trader.  Konting movement, nilalabas ko lahat.  My mentor told me to make a slight modification.  Sell, but not all.  Lighten your shares.  He doesn’t spoonfeed me.  He just is there, when I ask a question.  He imparts market experience learned through time.    Now, I know the difference between selling and lightening up.

Go guys, lighten up! Mag Sanmig light daw sabi ni Sam Pinto!


Was I right in choosing Sam Pinto as the cover girl feature for this post?  Instead of Mr. Spongebob Squarepants?  Damn, this girl is sizzling hot for summer.

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Comments
22 Responses to “April 7, 2011- Celebrate Successes, Respect Elders and Be a Sponge”
  1. harry says:

    nice one again … ms dimsum 😉

  2. thanks. lagi naman pag gusto mo ginagawa mo…laging gusto mo nice 😀

  3. harry says:

    yes of course. 🙂

    kanina nga may mabasa ako sa isang forum, may isang trader na operahan na at still in recovery pero trading parin laman ng isip at ginagawa…. di naman sya adik sa trade ano? LOL 😛

    syanga pala, i wish some of this days, i can get to see through your way of trading. on how you implement the aspects of entry/exit, your timing, your position sizing, your risk/reward… etc etc etc.

    and speaking of lightening up, i am wishing to my lolo and lolas to grant me strength and courage to keep hold of 20lbs weight loss desires… hehehehe

    • linda raschke, ive heard… is a famous trader who’s a girl. She was pregnant and was trading in the hospital room! There are market addicts. Certified market addict ung kausap mo.haha.

      As for the weight loss desires – discipline daw katapat. mahirap pero if u can be disciplined in ur trading, u can also be disciplined in losing weight.

    • Ronald Ong says:

      harry, ako yan no. (opedration thing) hahahaha adik ba?

      hi ms dimsum, nice blog.

      • hello addict! hehe 😛 Thanks… share your stories. I promise I’ll put it as Aliases 😀 Send me a message via facebook. I’m sure other addicts would love hearing your stories:D

  4. As for how I trade, sige. ok lang I’ll try to share it through a post. Minus the numbers. Pero once I’ve exited the trade na lang 😛 While I’m in the trade, I’ll always be biased. haha.

  5. harry says:

    hmmmm… now i wonder,

    how will a not yet married girl or a man keep up with a relationship with a certified market addict who’s mindset and interest is much preoccupied with everything that is trade related…. if the other party is nowhere near the level of interest or even of zero knowhow. makes me think on how to keep the spark of mutual admiration kept lit…

    ooppps, am i getting offty?

    • two things. all relationships seem to have a balance. If I talk about trading endlessly, he’ll get tired of me. If he talks about non-trading … at least I get some diversity. All’s fair 🙂 Tska honestly, I don’t like talking about trading – as in stock markets kung anong binili, anong hawak ko etc. It’s more of mga education… 🙂

      well ewan, ako lang siguro. Pero I know of many good traders and fathers…who’re actually happy that their wives have no knowledge of trading whatsoever- It gives them the relaxation refuge. 😀

      • harry says:

        yes you are right on that, even livermore tried to shoo away his wife from trading.
        although if it’s the other way around, whereas it’s the wife that’s into trading…. i wonder na.

        anyway, balanced life should be more prioritized and must be on top of all things.

        BTW, may i ask where is the best dimsum in town? i’m not really aware of all good food that spells chineese on it ….

        TIA

      • sige id make a post next few times of the best Chinese restos in Manila (pero personal opinion ko lang haha)

        Ying Ying Tea House dito sa binondo area masarap na and mura pa. Try mo 🙂 Gloria Maris dimsums sa Greenhills okay – Get their shrimp hakaw. Choi Garden- sa Greenhills din 🙂

        Xiaolongbao- masarap din sa SzeChuan house along roxas boulevard

        Obvious ba na malakas ako kumain? hahaha.

  6. spyfrat says:

    i dont find sam pinto sizzling hot, am i weird?

  7. sandra says:

    Trading styles have become more sophisticated and one must keep up with it. Yes being teachable and flexible likewise, being humble to ask for mentoring and that is what we are doing. We want to sharpen our skills so as not to rely all machines to tell us next step. This is one way to help the mind be active and not retrogress. Make the most but not let health suffer.

    Clients have taught me that I should be aware of what is going on thus i need to keep myself updated from all sources of information plus learning new things –

    Hi dimsum, thank you for generously sharing insights and being upfront in correcting our thinking. Yes we learn from the experienced traders.

    • nah. I’ve learned from the giants ahead of me who were generous to lend me not just their time, money but mostly their wisdom. For those who know how to listen well, sharing knowledge is more valuable than sharing stock tips 😀 hahaha. Do remember me when you’re making lots of gains, and remember that we have a God who’ll give us blackswans (both in good nature and bad natures) 😛 Temper your greed madames. Control risk management. Know when to be aggressive and when to lie down. Sige. 🙂

  8. TaroPUFF says:

    hi dimsum trader, nice name btw, it makes me hungry for i myself am a dimsum and market addict hehe. Nice blog btw, i found out about your blog thru MM, your infamous tirade against someone hehehe but i salute you for your courage. Anyway, can you tell me the diff between lightening up and selling if your sell signal triggers? I bought a stock and that’s exactly what i did. Lightened up. my TP did not get hit which was 7cent shy, so i lightened up, knowing there will just be a slight correction. My sell signal was triggered but ignored it thinking slight correction lng naman n it will bounce back and break new highs. in hindsight, i should’ve sold everything when my sell signal got triggered although im still up over 5% on that stock, it got shaved by over 7%!! SAYANG!! hahaha anyway, i hope we can have interaction thru ur blog or maybe we could YM in the future. Keep the dimsum comin =)

    PS. Are you based in manila or hk?

    • dimsumtrader says:

      TaroPuff,

      You can message me online. I have a facebook friend account- just search for DimsumTrader.

      Selling is something that can never be perfected. Please don’t look up to me as though I’m like some “sent from heaven” angel who’d help you become a market wizard or get better in trading. Truth be told, I’ve been trying to adjust myself and learning just like you are on just plainly improving and getting better in the craft of trading. Hindsight is not important in the trading field. We base our decisions with unknown outcomes. If our system of trading tells us to sell, because our stops are hit…we sell. There’s no such thing as a winning trade or a losing trade. There’s only either a good trade or a bad trade. We can make good trades, but end up losing money on it, mainly because trading, in the long run, is merely a numbers game. The key is to not lose much. We can make bad trades and end up making money , but if it reinforces a chasing prices attitude or calling/predicting tops and bottoms without any basis except our intuitive feelings, in the long run, we’ll end up giving our gains back to the market. I firmly believe it’s easy to make money, it’s harder to keep it. I’ve been busy the past few weeks learning a few things for an upcoming exam, aside from doing my normal routines. No problem interacting, just message and I’ll try to reply when I can 😀

      P.S.
      I’m based in Manila 😀
      -DT

      • TaroPUFF says:

        thanks for the quick reply Ms D.T. Yes, I do not expect you to mold me or change me. But merely exchanging notes so we can help each other sharpen our swords in preparation for battle. Before I was too naive to think that the only thing that matters is what i think. What my system thinks. I secluded myself from others, thinking my system works perfectly, why would i let other system influence my work. Well, i must admit,when my system don’t work anymore, I lost every profit i made in my career in less than 1 month. I feel defeated. I feel like a complete schmuck. I hated the market! I want to strangle her if i can! I got depressed. I feel my life ain’t worth living anymore. Though suicide didn’t past thru my mind, as i am a Christian and i have a day job. Eventhough I have a real job, I have the wrong notion that stock trading IS my real job. so everytime i lose money, I get affected. Anyway, sori, nuff of my boring story of myself HAHAHA.

        ” I firmly believe it’s easy to make money, it’s harder to keep it” This is esp true in my case. I don’t know why i’m good at squandering profits! lumalakas loob ko when I earn big money and end up giving all back to the market in a jiffy. What can you advice with that matter? Don’t be oblige to reply ASAP as you are studying for your exam.
        Good luck on your CFA exam! =)

        BTW, how can you monitor 2 markets at the same time?

        -TP

      • dimsumtrader says:

        Sorry quite late to reply. Email dimsumtrader @ gmail for quicker responses and I feel most questions here are personal in nature so just send it there.

        Monitoring two markets , – you can though it’s true that it’s harder when both markets are quite strong and you have lots to do, but it can be done, sanayan siguro.

        I just squandered half of my hardearned profits yesterday by not squaring a trade when it was going against me – going near my cost. The only way to stop ourselves from losing the money we’ve made is through a strict execution on our trading system. No hoping or anything. Easier said than done. It’s natural to be overconfident and give back your profits in a jiffy because stocks fall faster than when they move up, hence a strict adherence to selling while it’s in your favor should be part of your trading process. When a trade is going in my favor, I sell portions of it on the way up. I never mind not selling everything at the top because I just want to ride the meat of the move so I sell 25 pct then 25- 50 pct of my size until most shares of mine are sold… Insuring myself from giving back my profits. Being conscious helps. Having a journal or someone checking on your trades can help.

        Hope this proves useful. You can send me trading journals, delete the amounts. I’ll try to help. Analyze your largest profits, largest losses, the ratio of the two, your hit ratios and your average win and average loss. If you want to improve your trading, these are necessary steps. I have not really paid much attention until I was already so lubog in my losses and had to do something else , capital is just going to get more depleted unless you fix your selling system rules.

        Squaring a trade is important.

        Wikipedia my terms if not understandable. Thanks 🙂

        – dt

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