I discovered the stock market around May 2012 because I wanted to be financially free. I've read somewhere from some financial gurus ( I forgot the name, sorry! ) that there are only two real businesses where you can earn money, in real estate or in the stock market. I chose the latter because it requires only a small capital to start with.
I started with Mutual funds before, maybe around 2006, but this time I wanted to manage my money. I opened an account with an online broker, COL Financial at 5,000 pesos and started building up my portfolio. I did this with a mindset of a long-term investment because I really wanted to retire young and travel the world. I've had my share of wins and losses from blue chip companies. I relied mostly on the fundamental analysis of my stock broker. When my broker said a stock is a buy then I buy, then wait for my gain and sell if they said I should sell my shares. During those years, technical analysis is too much for me to absorb so I never tried to understand.
During this pandemic, no matter how I want to stay strong and have faith that everything will be alright, I came to a point where all my anxiety kicked in and I worried about the future. There's a realization that life is too short so do whatever makes you happy. As for me, when things are back to normal, I want to travel the world with my family. But travelling involves quite a sum of money so I need to increase my income stream. But we are limited to do so due to the community quarantine. So what to do?
I started exploring the stock market trading when my sister shared about her gains on some of her stock positions and how she maximized her earnings by doing the 8k rule. I was curious so I watched the video of MoneyGrowersPH on Youtube then I watched the next video on how to earn 50k to 100k in the stock market and the next video... and the next. And boom! My brain was lit! That was my turning point.
Last October 13, 2020, I decided to learn more about the fundamentals of technical analysis. What is a support and resistance? How do you know when to buy or sell your stocks? How to plan your trades? What are the winning strategies? How to cut losses? There's so much questions in my head and I wanted to learn more. There's a lot of video content on Youtube University. ^_^ And they are just out there for free. Yes, for free! (Well, there are paid trainings if you want to dig deeper)
I started watching the free training videos of Investa to learn more about trading and investment foundation. I focused more on the technical analysis. I also watched videos about Price actions, Japanese candlesticks and patterns, some of the market indicators like MA, MACD, RSI, Fibonacci, Ichimoku and a lot more! I learned how to read and use the Chart by Investa. I also learned about virtual trading where you can execute your plan and strategies with a virtual money amounting to 100k. (More like of a practice account.)
By November 17, 2020, after five weeks of intensive learning, I executed my strategies on my real portfolio and I can say that 20% realized gain in one week is not bad at all. I'm still learning though and the best teacher is through experience. My goal is to gain 25% in 100days or at least double my money to fund our future travels. ^_^ (So, let's pray for guidance!)
Just sharing my stock trading journey. If I can do it, then you can do it too. As the saying goes, NEVER STOP LEARNING!
^_^
By the way, here's one of my technical analysis with ACEN.
