Invest Like A Shark

I recently read a book that really put me into technical thinking. It's titled "Invest Like A Shark", thus my blog name.

I was a fundamentalist. I mean, I always think that the stock market anywhere should not be treated technically. So, I basically buy and hold only a very few stocks and hope it will go up in price over time. But, as I dwelve into the charts, given the ability now to do it by IPOT (Indo Premier Online Trading), I started to appreciate the beauty of technical analysis.

Now it is time for me to put the lesson into practice. Vier in his blog says that don't think "High Risk, High Return", but think "High Return, Manage Risk". A good advice.

Back to the book in question. The book was written by James "RevShark" DePorre, and I bought it in the imported books section of Gramedia in Mal Taman Anggrek, West Jakarta. It mainly talks about mindset, not of the tools. But it's argumentative at best that technical analysis and money management hand in hand can make you able to control your financial destiny (in the stock market).

The book is well written like a good fiction, so that I can read it in two days eventhough it's about 200 pages thick. What I can share from this book, it's... well, act aggressively, but patiently. Follow the crowd. Try to learn crowd psychology. Control your own emotions. And most of all, don't try to hit home run, but try to stay in the investment game for a long run.

Afterall, experience is everything, even in the investment world. So, try to read a lot. There are many talks here in internet about investment. I spent my Saturday morning reading many of these stuffs. And, let's trade. Practice your skills.

I recently sign up with IPOT and they are still offering free trial of their software until 15 April 2008. It's a risk-free endeavour. Maybe you can catch them at Mall Puri Indah until this Sunday (30 March 2008) or in GKBI, their office.

I'd like to see many sophisticated new-era younger traders in Indonesia, not some bunch of so-called traders that don't even understand their own tools and mindsets.

And this blog, it's for the younger and new ones. Don't learn anything from me. This is just a musings anyway. But maybe you can give me inputs so that we can share ideas.