Last week, we saw bloodshed in the Singapore markets, especially for those punters gambling on penny stocks. Fortunes that were built up over months and years were wiped out in a single day.
This is very typical of all get-rich-quick schemes – you get lucky and win a few times, then you get greedy, and eventually a big one comes and wipes out your account.
I am pretty certain many punters have been burnt by this episode, especially those who follow tips/calls blindly and did not manage to get out in time. In fact, if someone gives you a tip to buy a penny stock, they may actually be unloading to you, and making money at your expense.
This proves once again that punting is simply a game of musical chairs for adrenaline action, while on the other hand real trading skills are essential if one intends to trade for long-term success. I have attached a screenshot of my diversified portfolio below, and I will share more about it in the upcoming seminar next Wednesday.
Are you one of those burnt by recent hot tips? Or are you stuck holding large losses?
And more importantly, how will the market fare after this bloodshed?
Join us this coming Wednesday for a live market outlook. Limited to the 1st 30 sign-ups.
Check availability: https://www.eventbrite.sg/event/8233808543