I started blogging in 2004 and had a blog on sify ( see here)
I was just browsing through my old blog to see what i had written then and see how my thinking has changed since then. I came accross this post which i had written then (more in jest than anything else). This was the time i think the market had just crashed.
Wednesday, May, 19th, 2004
trader or investor ...who should i be ?
Let me see .....
-> read the papers every day
-> watch cnbc full day for each development
-> sit in front of the trading screen watching the price ticker
-> try to see which party may get elected ( depend on the exit poll ??!!!)
-> have the courage to watch the market fall by 500+ points ( and go nearly bankrupt)
-> then watch the market go up by 200+ points ( and wonder what will happen next)
-> have the courage to lose big money or the courage to bet big
-> has a strong stomach for this kind of swings
-> read annual report at leisure
-> analyse the company and industry over a long term
-> make a piddly 20 % p.a but not lose more that 5 %
-> less blood pressure
-> more time to watch other channels other than cnbc ( maybe discovery ??)
guess i am not cut out to be a trader .... dont have courage to bet big / lose big , like to sleep peacefully at night , politicians make my life miserable enough ...dont want them bankrupt me ...naah ...not for a lazy guy like me