Interview with Millionairemind

Re: Interview with Millionairemind

Postby LenaHuat » Sun Mar 14, 2010 9:24 pm

Hi MM :D
You've ventured and you've gained. All's not toil when you enjoy what you are doing.......it's unconventional indeed. Thanks a mllion for sharing your 'mind' with us. :D
Please be forewarned that you are reading a post by an otiose housewife. ImageImage**Image**Image@@ImageImageImage
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Re: Interview with Millionairemind

Postby sidney » Sun Mar 14, 2010 10:29 pm

Hi MM, i enjoy reading and learning from you. Keep it up:)
Tempered.
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Re: Interview with Millionairemind

Postby Aspellian » Sun Mar 14, 2010 10:46 pm

Hi MM,

Its of great pleasure to know an unassuming man like you! Thanks for ALL your selfless sharing! :lol:

PROMISE, PASSION, PEACE, POWER, PURPOSE, PLAN, PATIENCE, PERSEVERANCE, PROTECTION
DELIGHT, DISCIPLINE, DILIGENT, DETERMINATION, DESIRE

"Its not whether you're right or wrong thats important, but how much money you make when you're right and how much you lose when you're wrong." - Warren Buffet
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Re: Interview with Millionairemind

Postby bulltick » Mon Mar 15, 2010 12:11 am

Hi MM,

I enjoy reading your posts and have learnt a lot from you since you started posting in Wallstraits. I also learn a lot from those investment books that you have recommended. They are really classic.
Thanks a million!!
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Re: Interview with Millionairemind

Postby lithium » Mon Mar 15, 2010 6:59 am

millionairemind wrote:L bro - I have made so many stupid mistakes, you will laugh when you learn of them. :D

I can't really say for certain the %tage return one can expect consistently. There are good years and so-so years.

As for the amount of money to REALLY start, I guess one has to have enough money set aside for a couple of years of living expenses and then you can use the rest for trading.

One good year can really wash out all the bad years and allow you to make several years of living expense. ;)

The most important is to always cut losses short. Avoiding a major bear market like 2008 with your capital intact is already half the battle won.

If you need $100K to live on yearly, then you better have at least $1MM before you contemplate trading.

If you need only $40K to live on, perhaps you can start considering when you have $500K.

Paiseh, all I am trying to say after all these words is it depends ;)


Thanks bro, I got your point. You are estimating a rough 10% return per annum. I think that's very conservative. Thanks! :) The best time to start a career may be a recession year like 2008 and 2009 where the huge profits can be made.

My plan is save and learn trading as much as I can until the next recession, invest and experience a complete boom and bust cycle is important I think. Get VSS, and start a new life from there :roll:
"Play Great Defence, not Great Offence "
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Re: Interview with Millionairemind

Postby Musicwhiz » Mon Mar 15, 2010 7:12 am

Haha wah, 10% per annum consistently is not easy leh!

For me, my current target is at least 5% yield on my investments, and hopefully the final figure will be higher than 5%....hehehe :lol:
Please visit my value investing blog at http://sgmusicwhiz.blogspot.com
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Re: Interview with Millionairemind

Postby millionairemind » Mon Mar 15, 2010 8:58 am

Musicwhiz wrote:Haha wah, 10% per annum consistently is not easy leh!

For me, my current target is at least 5% yield on my investments, and hopefully the final figure will be higher than 5%....hehehe :lol:


Chin Chye la... as long as you are happy with your returns, can liao.. :D
"If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he has been wrong" - Bernard Baruch

Disclaimer - The author may at times own some of the stocks mentioned in this forum. All discussions are NOT to be construed as buy/sell recommendations. Readers are advised to do their own research and analysis.
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Re: Interview with Millionairemind

Postby millionairemind » Mon Mar 15, 2010 9:08 am

bulltick wrote:Hi MM,

I enjoy reading your posts and have learnt a lot from you since you started posting in Wallstraits. I also learn a lot from those investment books that you have recommended. They are really classic.
Thanks a million!!


BT - I am glad that you enjoyed the books. Do recommend some of your reads in the book thread so I can go pick them up. :D

A Bro/Sid - Always a pleasure. We are all here to learn from each other. I may be the biggest idiot of them all. :mrgreen:

Lithium - There are good years and so-so years. It all depends on your skills and strategy. If you make 50% in one year, that will last you for the next 3 years. You can go home and shake legs liao. :D
"If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he has been wrong" - Bernard Baruch

Disclaimer - The author may at times own some of the stocks mentioned in this forum. All discussions are NOT to be construed as buy/sell recommendations. Readers are advised to do their own research and analysis.
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Re: Interview with Millionairemind

Postby lithium » Mon Mar 15, 2010 9:13 am

millionairemind wrote:
Lithium - There are good years and so-so years. It all depends on your skills and strategy. If you make 50% in one year, that will last you for the next 3 years. You can go home and shake legs liao. :D


How about 400% in 2008~2009? Can shake leg for 40 years? :mrgreen:
"Play Great Defence, not Great Offence "
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Re: Interview with Millionairemind

Postby Cheng » Mon Mar 15, 2010 8:15 pm

MM ge,

I was just wondering... Do you keep proper trading records?

Eg. The reasons why you are buying/shorting. Why you win, why you lose. The mistakes. What could you have done better. Before you enter a trade, do you plan your stops, plan when to take profits before the trade etc? Do you record it all down in a spreadsheet and organise yourself? Do you review your previous monthly records? Or do you just trade and keep minimal records?

Thanks
Cheng :D
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"Risk no more than you can afford to lose, and also risk enough so that a win is meaningful." Ed Seykota

Scan with FA, Time with TA, Volatility is my Friend. :)
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