Yesterday my friend told me about the phenomenm rise of Adam Khoo, a forex trader.
Today my friend forwarded me an article of the fall of Boaz Weinstein, once one of Wall Street's hottest traders, speaks volumes about why financial firms still are reeling from the shattered global markets.
Again it is proven that trading cannot really works over long term. one big fall will wipe off profit accumulated over the years. Bob is a brilliant man, as shown in his resume
- chess master, poker and blackjack devotee and top trader at Deutsche Bank AG, Mr. Weinstein made big bets using complex financial instruments, generating large returns for the bank and about $40 million in annual pay for himself. But in 2008 the group he ran saddled the bank with $1.8 billion in losses, erasing more than two years of trading gains.
to me, trading is still beyond my comprehend and my taste.For layman investor, i still prefer just choose and hold. The Haio debacle last month really gives me some shock, when it fell heavily. Today, it has recovered to RM7.48 again. I'm again the paper profit region. i happy to stick with this model as of now. more important is to continue my income stream as 'bullet' to buy up more stocks along the way
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