System Or Luck!

You will get to meet all sort of trader/investors when you start trading! Ok, below are two friends whom I knew that trades.

Lady Luck
A friend of mine Mr A, have made a hugh profits of out luck. Let me give you a general description of him, he is a person that does not do analysis to buy shares, always hantam any particular counter ask me for opinions. This happens often and is very frustrating! I have preach him to read up on books attend courses etc but he does not make the effort.

2 Weeks ago, he brought LC Dec and told me it a good counter to buy. I then question him what made him buy the share? Did he look up on the fundamentals, or basic on technical indictors to buy? And he gave me an answer mentioning it has good prospects as LV Dec is doing properties.... this kind of answer is well... like going to a food court with 3 fried kway tiao stall and one of them has the yummy food posters so it will be nice that kind of answer...

After hearing the answer, I just ignore him and dun even bother to look at the counter. Lately, LC Dec has been appearing in top vol for a few trading sessions and drew attention to me but is too late... it has risen 30 cents from the time I heard from him...

Doing a research on it, I found out this company has udnergo a demerger from Lum Chang Holdings and focusing onto its hotel business. It is asset rich with stakes in the three holiday inns hotels and some other hotels in china and london, it also has a land parcel in koh samui where they are planning to developed into a resort and some residential properties to sell. It a turnaround company!! Argh miss the boat!!! I doubt A know what the company protential the company has... Lady luck has just gave him a smile!

Unbeatable System!
Then there is B, who buys on financial institutions/brokerage firms coverage that yields high returns. He is disciplined to follow his system and now is enjoying the fruits of joy with more then 50% returns from the capital in half a year!

Me
Well as for me, I am still searching for a right system and gaining more experience to time my entry/exit to and from the market! On and off, I still tried my luck on contra trades out of greeed, but going to cut down as it only have 50% -50% chance and is mentality taxing . I hope to be more emtionally discipline to do my trades. I have been interacting with other investors/traders getting to know their past experience. These sharing are valuables as not people are willing to share out their trading methods.

Conclusion
It will be advisable for beginners to interact more with other investors/traders as you can learn much more from their experience! Here is this blog named GrowMoney where i frequents. A group of experience and amatuers traders/investors gather and interact daily. Its a good learning ground as the owner often shares his analysis/methology with us. Do take visit there.