Day 1 at the stock market

so, i have thought about this a lot of times in the fast. i have heard stories- both good and bad- about their experiences with the stock market. i blocked the horror stories out of my mind, reminding myself that i am in this for the long haul.  as exciting as trading is- and my banker often tells me that- i do not have the stomach for that one yet. i am into this for the long haul, i reminded myself again as i looked at the list of stocks i would be buying for the day.  though, i found myself thinking, it wouldn’t hurt to be trading on the sides.

this is exactly how people get burned. all the accounting bones inside me twitched. anything it cannot measure, worries it. i waited two years since i put in some money in mutual funds (which gave me a fat, unhealthy return of 84% at the present, by the way) before i dove my nose right into the stock market naked- i am not going to gamble my money on things i do not know a lot about.

the accountant in me likes that line of reasoning.  anything it cannot explain, it repulses. stock market is a foreign territory it does not like exploring; too many noises and they are all very distracting, it reasons. i like that consistent, reliable voice inside my head- it makes everything about my life simple.   it doesn’t quite like me at this point, though and looks at this entire exercise of building my wealth through stocks as a sign of abandonment and breach of trust. i will handle her later; first, the market just opened and i have to start shopping for stocks now.

I have seven companies in my list, three of which were recommended by Bo Sanchez (i have subscribed in his truly rich club program- and yes, i really am serious about this wealth building program), two of which were my banker’s picks and two of which were my own. I got the order for four of these stocks completed: Jollibee (JFC), BPI, Petron (PCOR), and Energy Development Corp (EDC). Aboitiz Power (AP), First Philippines Holding Corp (FPH), and Zeus Holding, Inc (ZHI) orders remained uncompleted up to the time the market closed at 1PM. no one was willing to sell their shares at the price I want to buy it and a lot of other traders are buying them at a higher price than i want.  oh well, I found myself thinking, that would be the stocks I can buy for another day. 

a few hours later when the market closed, i checked my portfolio and found out that on my first day at the start market, i lost 0.54% of the value of the stocks I bought on the same day.  I bought shares of pretty solid companies- i am not that worried.  my banker has taught me that I should set a threshold for my tolerance on losses (and conservative i may be, 0.54% is not that number; it is not even close to that at all).  He also told me that i should be disciplined enough to decide what I want to do with the stock before I do any buying or selling activities with it.  that does make sense, if you really think hard about it.  the worse thing you can do at the stock market is buy or sell a stock because everyone else is doing it, without you understanding why they are doing it.

how do i rate my first day at the stock market? well, seeing as i am now one of the owners (albeit, insignificant) of a successful food giant, a huge corporate bank, an oil company owned by one of the largest conglomerate in the country and an energy corporation that are all going to be around for a while….it wasn’t so bad. i do not know about you, but it turned out to be quite a productive morning.


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