Just one day ago, I blogged about my purchase of China Everbright Environment 257.HK. I bought 257.HK one trading day ago.
I am delighted to see that 257.HK surged 14.02% today. Is it luck or skill? Of course, it's mostly luck.
When I am lucky, I will admit I am lucky. Although this blog is about market timing, this kind of timing does not happen most of the time. Someone who tries to impress you that he can do it is probably a snake-oil salesman trying to sell you some expensive formula or course to help himself (not you) get rich. I have nothing against financial-freedom/become-a-millionaire courses as long as they set realistic expectations and do not take advantage of the common man's psychological weakness to get-rich-quick.
The purpose of this blog post is to set the right expectations for readers when they get lucky sometimes like I did today.
Financial markets are dangerous and it takes a lot of hard work to make money from them. When someone has no respect for Mr. Market, he will be taught a very painful lesson to learn respect.
Most people who are in the market long enough will sooner or later enjoy a lucky break like what I have just experienced today. In fact, I enjoyed an even bigger lucky break in the form of averting massive losses on 16Aug2021.
It was such a close shave that some luck had to be in play. Nanofilm (MZH.SI) crashed 28.81% today. Exited the day before. Rex International(5WH.SI) crashed 8.84% today. Exited the day before. Golden Energy (AUE.SI) crashed 15.94% today. Exited the day before.
When you do encounter lucky breaks, please don't get complacent. Be honest and admit that you happen to be lucky.
Luck is something to hope for but never to be depended on.