Tuesday, June 23, 2015

I Am Not Closing My Account

At some point, I made investment mistakes. It was primarily due to the reason of me being financially illiterate. Those traditional businesses that failed eventually because of lack of knowledge on how to properly sustain and grow the business. But hey, I am not giving up. I just learned from those and keep on learning along the process.
 
Some few years ago, I had an office mate who is into trading. COL Financial exactly. Because he seated just apart from me, I was able to take a look a few times on his portfolio which he allowed us to. And even though it was an office hours, he would opened the link to then citisec online and trade at the start of it.
 
He was a generous trader that every time he gained on papers, he would buy the whole team lunch. The curiosity in me kicked in, I started to ask questions with how does it worked. And he would enthusiastically fill in the answers to every questions I asked until such time that I 'felt' like I was more convinced to join the stock market trading than what I thought about it. He offered to process my application to the  citisec office in Ortigas since he would often pay a visit to the office. After some days, I received my application approval and login credentials. I deposited the minimum amount. My very first stock pick was in mining which I chose randomly.
 
Looking back, honestly, I made a mistake opening the account. I do not have an emergency fund built yet then. And though I have added few more amount in the coming months, it just sit there for sometime since I do not how to proceed further. My office mate had then resigned from our work and went oversea. I lost track eventually with changes in course. But I am still thankful to him for introducing me to this investment avenue that I viewed before as for somebody who has big bucks and wealthy enough to enter the trading industry only. It has then changed my perception.
 
Although up to this day, I have not withdrawn any amount from it, and had sold stocks since then, bought some again from my available buying power, it had remained a little amount in my over all portfolio. And yes, I do not sell stocks when it is in red, I only sell when in green. Which means, that I need to wait for such a long time before some stocks will turn green. And I am losing money over time.
 
I just realized these days that I do not actually intend to be a daily stock trader after all. Because, truth is, I am a slow learner and after all these years, my knowledge with stock markets has remained relatively a beginner or as a starter.
 
Had I known about emergency fund first, making savings a habit, protecting our lives, and eventually opening up a mutual fund or uitf before, I could have taken these steps first before actually dipping into stocks. However, no, I am not closing my COL Financial account. I am more eager to take the step up to level up my understanding with how it actually works now. And since, through financial blogs I have learned that stock market is not basically a daily trading business alone, I am more comfortable now to invest in via cost averaging which was the exact contrast of how I was taught about it. Thanks to those eye opener information via forum, financial blogs, and books.
 
It is indeed, that to be better financially, we have to make our own diligence to do our part in understanding each steps to be financially free. And yes, sometimes, we make mistakes but what matters most is how we learned from it and become better.
 
We can when we think we can. Start small. Make no excuses. Dream big. Think of yourself and your loved ones.

Yesterday is a past.

Today is what we have.

Start today. Work. Save. Learned.

Envisioned the future.
 
Just sharing. God Bless. :)

2 comments:

  1. Wow, buti ka pa nkapg start na sa stock market, ako takot pang pumasok dyan e. Nag iipon pa ko ng lakas ng loob, sa ngyon mutual fund muna at saving lng ang inaayos ko.
    Bilib ako sau sis, consistent ang dreamgoal mo.Go go go lng tlga.

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    1. It was a wrong move back then. wala akong idea at all. I was going with the flow. Kaya ngayon pa lang ako nag aaral. Yes, kapag comfortable ka na saka ka lang sumabak sa stock market Miss Grace. I don't recommend it kapag hindi pa comfortable sa papasukan, kahit dito sa office namin. Kasi everytime na nakikita nila binubuksan ko yung COL, nakikitingin sila and nagtatanong, but then, I don't suggest it to them. I recommend na mag basa at mag aral muna sila ng ibang investment vehicles. :)

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