Money management: Stock market is best school to find my weakness - Ameritrade.com

 Sept. 17, 2020

Introduction

I like to write down my money management lesson - stop big loss starting from March 27, 2020. 

My lessons

I did not learn how to manage my money in the last 30 years. All problems show up through my stock investment account. 

I invested in SABR starting from June 8, 2020. Loss is $700.00. 

                Loss

SABR     -$700.00

INTC      -$550

June 8 $13,000 dollars purchase - loss of over $2000 in three days

Sept. 11, 2020

I started to learn how to stop big losses. As a beginner, it is important for me to learn how to stop big losses. In real life, as a 53-year-old, I must save and avoid big expenses as well, until I can make sure that I can have a roof over my head, and car to drive, and a place to go to work. As a single person, I do not have family life with children. I must stay away from relatives, avoid taking advantage of my weakness. 

Money management is tough for me to correct my bad habit in such a brief time. 

I got up at 6:00 AM, stayed at home, sat all the time, studied market, my positions. I like to write down what I learn, and what I can investigate. 

April 2010 - Sept. 2020

I spent over $5000 dollars on a vacation trip to China, airline ticket in 2011 over $1300 US dollars; I have impulsive shopping and spent over $5000 dollars for one month vacation. I love to have parties with relatives, I will spend one year salary for local person in the city of Yichun just for my vacation. 

I do not save long term for my home in the city of Vancouver. I try to avoid investing in real estate since I know the challenge of handling a big mortgage. I still had over $30,000 US dollars home equity in Florida from 2010 to 2018. 

I spent seven vacations in China, and then over $20,000 Canadian dollars. The real estate price - surrey condominium went up in 2017 from $160,000 to $300,000 dollars. 

Follow up 

Nov. 10, 2023

I should be able to compare Suncor stock I invested for a short term to other stocks I invested. I should invest on those stocks with over 40,000 employees like Suncor back in 2020. 

To be frugal is the start to build wealth. I have to learn how business works and take some risk to learn and invest on stock market during pandemic. 

It is not easy to find my own bias, and it takes hard work to learn how to find good opportunities in the US stock market in 2020.