Set new goals, take action, and start moving forward

This year, my goal is to make 20% of my jnvestments in the financial market. You will need to be damn steady to manoeuvre the various markets. The political and economic uncertainties can always derail your investment plans. Therefore, we will need not only to dump more on investment funds randomly but to take calculated risks and must really cultivate good investment strategies and learning habits to upgrade our knowledge in the financial world. For a start, I will take the following actions :-

1) SET aside and ALLOCATE my surplus funds for investments in the various financial instruments on a monthly basis. Reduce unnecessary spending and entertainment so that I could have more funds for investment purposes. Remember that every dollar saved is a dollar earned! In addition, putting in the extra dollars saved into an investment will see more returns!

2) Continue to have one or more investments in the regular savings (investment) plan investing in unit trusts to benefit from the dollar cost averaging effect, dividends and appreciation of the funds.

3) Learn and learn! Yes, never stop learning! Learn more about other instruments other than equity, bonds, unit trust but also investment into FOREX, FUTURES, OPTIONS etc. Have a paper account, practice before putting in your hard earned money to trade.

4) When you lose, do not hold on to your portfolio. The stock may even go lower or stagnant at that price for years! Cut loss and use the remaining capital to reinvest and move on. Don't get stuck and lose your opportunity to regain your losses by investing in other more profitable stocks.

5) Always trade that we to WIN, not to "PLAY NOR GAMBLE." So we need to do our homework and think twice before clicking the "SELL" OR "BUY" button. Don't just trade from heresay, tips or articles. Do more research before dispensing your funds into each trade.

6) I believe in a diversified portfolio. So I will continue to invest across markets, regions, commodities, forex market and also will try new investment instruments like options and futures this year.

7) Always be watchful and alert. Watch out for geopolitical events that could rock the stock market. Sometimes, we may take advantage of such situations to profit from it. Always keep abreast of the latest news so that we can re-balanced our portfolio.

8) We have to stay invested no matter how the matter is headed. You can reduce your portfolio and wait for opportunity. You still can also reap from dividends from some good dividend stocks and Reits; and also hedge against the falling market.

These 8 points should make me "Huat Ah" for this year. I hope and pray that you will HUAT too with your own plan and strategies! May all the LUCK BE WITH YOU. GOD BLESS US ALL!