Everyone has a story to tell. We are easily inspired when we hear rags to riches story. First Million Journey. Well, mine is not like Warren Buffet’s.
Beyond everything I was able to succeed, I did get important lessons learned: investing for the long-term always pays off and smart investing keeps the wheel going…
How to make my first Million?
I strongly believe that stock market is one of the best avenues that you can create your wealth over time if you will put your heart into it (other than having a successful business).
I won’t change my mind to this day.
Let me bring you back a few years ago when I started hearing that word “stock market”. A strong curiosity hits me like never been before and a question I asked myself “What is in it for me?”.
Out of extreme interest, I started to devour books and watched videos every single day. I even have tons of books that are as old as time!
I can still remember, my friends were asking to go to a party and I quietly skipped just to finish the pages of books. This could be an answer!
I was still on “after-effects” from failure after failure. I started a couple of businesses but it failed due to lack of experience and finance.
I thought I was running out of time!
When I was younger, I promised to earn my first Million before 25 and I announced it to the entire family just to make sure that I was serious about it.
My motive was selfless and innocent, my relatives took it the other way. That was my big mistake! I ended up not reaching it, too far from being possible. I ended up broke!
That was funny enough to ridicule me. It feels like a big stone have hit me and people were making fun of me! There must be a way out! I spent months so disappointed but I was able to manage to pick up myself.
That was what I’ve got of dreaming big…
“You’re too ambitious! You can’t get there! We’re only poor”. Noise was still on the air!
One day, I decided to go back to my hometown. We have a vast farmland, an inheritance from my “tatay” before he died. I’m the only son so that’s always a default. I toiled it every morning and did my best to develop it.
Good thing I grew up all my life in agriculture and literally I was brought up surrounded by rice field! After saving much, I was able to open an account with a brokerage firm. My very first investment!
I’ve read a book from William J. Oneil, “How to make money in stocks” and that’s always my favorite book. It has been my guiding principle on stocks picking to this day.
That was even harder since our “barrio” was too far from the town and we had poor mobile connection and no internet. I have to go to the city just to put my order to buy stocks and also to watch videos.
I downloaded it from youtube and brought it home. I knew that time, to be successful in this field, it was not enough. I have to do the extra mile.
And so I did.
I sold some of our property and went here in the metro. I knew here, opportunities are much bigger. I have to be focused on my main goal. I easily got a good-paying job and I consistently saved up at the same time, I did small businesses and other income streams.
I always take out 30-40% from my income and put to it my investment portfolio. I also set aside to give to our local church. Saving has been my healthy habit and investing made it more exciting! I was so amazed that I was able to save that much for many years.
I added small cap stocks or second-liners because they are the ones which are growing and promising. I put big amounts on DNL, Double Dragon, Puregold, Cebu Pacific, etc… That move was very crucial but it pays off.
I was able to maximize it just using fundamental analysis I’ve read from books. I was a fan of Warren Buffet. On my fifth anniversary in the stock market, I was able to hit my very first Million…
however, it only lasted for few months…
I was able to sell small-cap stocks to reinvest it in blue-chip stocks, thinking it would be much safer there, and it’s less volatile. A good way for capital preservation! “Giants do tremble sometimes” and it went so true, to date some of the blue chips haven’t recovered yet because I’ve invested to some even though they are still bearish (downtrend).
I was so frustrated that I was looking for answers on how to protect my funds in a very volatile world. I can barely see my hard-earned money went down that much! There must be a better way!
My frustration leads to wisdom-seeking and bears results! I took the time to learn more about in depth studies and research, attended free and paid seminars and learned from veteran traders and brokers.
I have found the answer! I’ve learned that we have two aces in the market: TIME and TIMING!
Although I’m only practicing technical analysis for a year now, the results are tremendous. I’m more confident and ready to face challenges with one thing in mind: minimize risks and maximize profits!
Not only that, I can already manage my stocks very well on things that I can control. Now, I’m also trading third-liners stocks and penny stocks to maximize good profits.
However, I never lost a glance on my original purpose- I will always do it for the long-term goal. To date, I have never withdrawn a single centavo from my portfolio.
I still have my daytime job, small businesses, and other income streams. I will always set it aside for my retirement and for my future family.
Now, Engaging in the market has never been so exciting… There’s still a lot to learn.