Avoid this cardinal sins of trading!!

AH, so like many traders, I too made this mistakes from time to time. If you feel better, blame it on the media. What you are reading the most often (or what is published more often) had your attention.

Our human mind is made to avoid crisis like this as we seek protection (think the Croods movie - run to the caves). In short, we tend to avoid pain more than gaining pleasures.

So, I promise myself to read less of coronavirus news and its impact on the stock market. Rather, I want to be pulled to the pleasure side and think and act more on the other side.

In psychology, they called it Negativity bias. You can read more here.

It can be so serious that it clouds your judgement, make you hesitate and procrastinate on your action steps and delay your financial goals. Do not make this cardinal sins.

Of course, there are always 2 sides of a coin. Some savvy investors are quick to jump to the bandwagon and short down airline stocks and scoop up biotech stocks to make extra money (triple digit returns within a short time frame).

So, here I hope to present you with a buying opportunity. The e-commerce business has really change the retail scene globally. Over in Singapore, you can read here that many popular brands have vanished from the retail scene.

Before, we think that only books and CDs can survive in online retail but look what happened now. A good example is my own home, we got all our brand new furnitures (80%) from online - Taobao in China. For smaller accessories and soft furnishing, we prefer to go down to IKEA store.

So, I am still bullish on many tech stocks like BABA, 9988