Do you think is losing $35,000 in stocks over an 11-year period a lot of money lost?

[houses]

I just heard this from my colleague yesterday.

He said he started trading/buying shares in 2002 March and had been trading/buying shares for the past 11 years. He said he treat the stock market as some form of excitement/entertainment.

He said he kept a record of all his profits and losses and he said overall for the past 11 years till now he had net lost $35,000.

I'm just curious, do you chaps think losing $35,000 in stocks over an 11 year period is a lot of money lost for a working-class sporean?

He is a average typical working-class sporean.

 

[Leongsam]

Re: Do you think is losing $35,000 in stocks over an 11-year period a lot of money lo

$35,000 is small change in a country that has more millionaires per capita than anywhere else on earth.

I have working class friends who have lost $35,000 in 2 minutes.

One of my colleagues lost $90,000 in one minute trading gold futures. He was a supervisor in a factory.

 

[Brubeck]

Re: Do you think is losing $35,000 in stocks over an 11-year period a lot of money lo

I just heard this from my colleague yesterday.

He said he started trading/buying shares in 2002 March and had been trading/buying shares for the past 11 years. He said he treat the stock market as some excitement/entertainment.

He said he kept a record of all his profits and losses and he said overall for the past 11 years till now he had net lost $35,000.

I'm just curious, do you chaps think losing $35,000 in stocks over an 11 year period is a lot of money lost for a working-class sporean?

He is a average typical working-class sporean.

He is doing it the wrong way.

 

[houses]

Re: Do you think is losing $35,000 in stocks over an 11-year period a lot of money lo

$35,000 is small change in a country that has more millionaires per capita than anywhere else on earth.

I have friends who have lost $35,000 in 2 minutes.

Walan you keling kia don't digress lah!

My post said he is a working-class typical sporean.

Don't digress to compare with those multi-millioniares lah!

 

[Leongsam]

Re: Do you think is losing $35,000 in stocks over an 11-year period a lot of money lo

Walan you keling kia don't digress lah!

My post said he is a working-class typical sporean.

Don't digress to compare with those multi-millioniares lah!

I already said that the guy who lost $90,000 was just a supervisor in a factory. His salary plus overtime and shift allowances couldn't have been more than $3,000 per month.

He was as working class as they come.

 

[ZorrorroZ]

Re: Do you think is losing $35,000 in stocks over an 11-year period a lot of money lo

So how does he do it? Does he have funds stashed in some cayman islands account? Where does he get $90k to blow in a single minute?

 

[chootchiew]

Re: Do you think is losing $35,000 in stocks over an 11-year period a lot of money lo

$35,000 is small change in a country that has more millionaires per capita than anywhere else on earth.

I have working class friends who have lost $35,000 in 2 minutes.

One of my colleagues lost $90,000 in one minute trading gold futures. He was a supervisor in a factory.

Did he have suicide thoughts when he lost that $90k ? Once I lost $10k in 3 hrs I almost couldn't forgive myself and jump.

 

[houses]

Re: Do you think is losing $35,000 in stocks over an 11-year period a lot of money lo

Did he have suicide thoughts when he lost that $90k ? Once I lost $10k in 3 hrs I almost couldn't forgive myself and jump.

so that 10K you lost in what type of gambling? soccer bets or short-selling stock or what??

 

[Leongsam]

Re: Do you think is losing $35,000 in stocks over an 11-year period a lot of money lo

So how does he do it? Does he have funds stashed in some cayman islands account? Where does he get $90k to blow in a single minute?

When you do margin trading, you don't need to have 90k in order to lose 90k.

 

[Leongsam]

Re: Do you think is losing $35,000 in stocks over an 11-year period a lot of money lo

Did he have suicide thoughts when he lost that $90k ? Once I lost $10k in 3 hrs I almost couldn't forgive myself and jump.

No but he was in debt for a long time. Luckily he was a good supervisor who was later promoted to production manager so he managed to clear his debt over time. He also learned his lesson.

 

[HK14K]

Re: Do you think is losing $35,000 in stocks over an 11-year period a lot of money lo

Simple, blamed PAP for allowing futures, gold n share trading in SG....

Just like many losers who lost their fortunes in the casinos, instead of blaming themselves, they blamed the govt for allowing casinos into SG!!!

 

[chootchiew]

Re: Do you think is losing $35,000 in stocks over an 11-year period a lot of money lo

so that 10K you lost in what type of gambling? soccer bets or short-selling stock or what??

spent 2 hrs inside RWS Livewire lost $2k in soccer, came out and lost another $8k in casino in an hr. I turned into zombie that day I took half a yr to save that $10k. Is a lesson but I find myself trying to chase the lost even upto now. I estimated total lost abt 70k so is not possible anymore to chase :(

 

[Leongsam]

Re: Do you think is losing $35,000 in stocks over an 11-year period a lot of money lo

Simple, blamed PAP for allowing futures, gold n share trading in SG....

Yes many who lost money in gold futures trading started cursing the government for allowing these bucket shops to operate.

However, for some reason, I realised early in life that I was 100% responsible for my own actions and it was my greed and my desire to make a quick buck that drove me into making poor investment decisions. The PAP had nothing to do with it at all. I was my own damned fault.

 

[kezgtree]

Re: Do you think is losing $35,000 in stocks over an 11-year period a lot of money lo

... I only say he's FT before, how you know he is keeling kia...??

 

[PrinceCharming]

Re: Do you think is losing $35,000 in stocks over an 11-year period a lot of money lo

Aiyoh, what is losing S$35,000 over 11-year period?

Our grand lady of Temasick has lost at least S$35 million over 11-month period....

Huat Ah!

 

[UltimaOnline]

Re: Do you think is losing $35,000 in stocks over an 11-year period a lot of money lo

spent 2 hrs inside RWS Livewire lost $2k in soccer, came out and lost another $8k in casino in an hr. I turned into zombie that day I took half a yr to save that $10k. Is a lesson but I find myself trying to chase the lost even upto now. I estimated total lost abt 70k so is not possible anymore to chase :(

Sympathies and empathies, bro. After I hit a net total of $33k loss (mostly chasing losses, same as you, and also at RWS... what bittersweet memories RWS now holds for me), I've finally accepted that, it's ultimately better to faster lose and move on (and never go back into any form of gambling ever again), then to continue wasting the rest of my life being stuck in the false illusion of gambling.

 

[Scrooball (clone)]

Re: Do you think is losing $35,000 in stocks over an 11-year period a lot of money lo

It is almost impossible to trade stocks from 2002 and still make net loss.

Unless.....he follows the Ho Jinx way of investing. Buy high sell low.

If he pick any stock, and kept it for 11 years, surely got 80% chance of making money.

 

[Leongsam]

Re: Do you think is losing $35,000 in stocks over an 11-year period a lot of money lo

Aiyoh, what is losing S$35,000 over 11-year period?

Our grand lady of Temasick has lost at least S$35 million over 11-month period....

Huat Ah!

You obviously haven't heard of "Micropolis".

 

[laksaboy]

Re: Do you think is losing $35,000 in stocks over an 11-year period a lot of money lo

Seems like your colleague doesn't know how to play stocks.

Dunces such as him exist and serve a valuable purpose: whatever he's buying, you don't buy.

 

[Clone]

Re: Do you think is losing $35,000 in stocks over an 11-year period a lot of money lo

I just heard this from my colleague yesterday.

He said he started trading/buying shares in 2002 March and had been trading/buying shares for the past 11 years. He said he treat the stock market as some form of excitement/entertainment.

He said he kept a record of all his profits and losses and he said overall for the past 11 years till now he had net lost $35,000.

I'm just curious, do you chaps think losing $35,000 in stocks over an 11 year period is a lot of money lost for a working-class sporean?

He is a average typical working-class sporean.

Your colleague got a good deal. That's about $10 per day over 11 years. Cheap cheap for all the thrills.