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Mooers' Stories | Investing while young: A 21-year-old's stock market journey guided by a father's wisdom
Hi, mooers. Welcome back to Mooers' Stories, where we present mooers' insights and experiences. At the crossroads of education and real-world experience, @LiangShen, as a 21-year-old university student, made a mark by securing fourth place in the moomoo US stock paper trading competition for Malaysian users last month.
What’s behind his impressive showing in the paper trading competition, and how does he balance the books of study with the charts of trading? Join us as we unpack his journey, a blend of a father's seasoned insights and a young trader's eager exploration of the stock market.
📚 Brief introduction: A student in accounting trades in the stock market, learning from his father and seeking hands-on experience alongside his studies.
🔍 What is your educational background? Do you have formal training in finance or economics?
Basically, right now I am pursuing Accounting courses but have free time, I will do my own trading.
🔍 What initially sparked your interest in the stock market and investing?
Most importantly, you can earn more extra money during your free time while studying at university. Basically, my father also does trading (I learned from my father - that’s also my starting point for my trading adventure) Right now I just invest a little money, and most importantly I want to gain more experience first.
📈 Investing Journey: Forging his path in trading, LiangShen applies a FIFO approach to swing trading, blending lessons from his father with his own market observations.
🔍 How did you learn to invest at the beginning?
My father taught me the basics. But he mostly uses fundamentals and news indicators to trade, while I focus more on using technical analysis. I also do my own research and learn from Bursa Academy. Every morning I must look at the morning news first before starting a new trading day.
🔍 How would you describe your investing style? (For example, are you a value investor, growth investor, swing trader, etc.?)
Right now, swing trader. But in the future, I also will choose to be a value investor. (if I have enough extra money )
🔍 Do you have a specific risk management strategy?
Don’t have a hope strategy during trading. If you have already touched the profit point, just take profit, and don’t be too greedy. If you have already dropped below the cut loss point, just stop trading, learn from your mistakes, and take note next time.
🔍 Are there any impressive cases you can share? Like your best trade ever?
Have 1 stock, if I don’t make a mistake, I think it is YTL.
At that time (April/May), I used technical and news indicators. I saw YTL's comment on the KLSE screener (it says that it will relaunch HSL), and I also saw big volume trading after this news came in.
My father also told me not to miss the changes, and I also invested at 0.59, but unfortunately, I exist too early at around 0.9 but my father still holds until now. My father baru adalah my sifu 🤣 (My father is my master)
🏆 Competition journey: Engaged in moomoo's paper trading challenge, using FIFO and market indicators like MACD/EMA to navigate and master market trends.
🔍 How did you get started in stock trading and what led you to join the moomoo paper trading competition?
I saw the Shane Choo Facebook page has been promoted, and I participated in it. Heard that the moomoo trading fee is quite low compared to others, that’s why I tried to participate moomoo paper trading competition. Moomoo has also already launched in many countries (has a lot of promotion haha)
🔍 How was your experience using the moomoo platform?
I think the moomoo app is OK because I can always read the news and report the same as the KLSE screener and see the live earning conferences from the US directly compared to others that just provide trading services only. Most important is the ability to see the comments (everyone can also exchange opinions about certain stocks).
🔍 Can you describe the main strategy you employed during the competition?
For US stock competition, I mainly see the volatility of the market because the US market is very active. I used my own trading strategy (FIFO Entry Signal) Fast in First Out. ENTRY SIGNAL VALID = Close above breakout point. Because only 1-month competition, need to earn more faster. I also relied on MACD and EMA 20/40. The volume also needs to be considered.
🔍 How do you balance trading or investing with your daily life, work, and other commitments?
I set my trading limit to maybe only 1 time per day. If we always monitor, I think that’s no chance for us to win. But US stock TNC is OK because they must trade above USD 5.
🔍 Which trade was the most successful or decisive one to make you win the prize?
I only choose stocks that seem to have breakouts and also have a big trading volume because I want to earn more money faster in a day. Like my FIFO trading plan. Because of volatility, I only trade 2 to 4 trades. I monitor the TOP GAINERS during the first 1-2 hours after the open market. CCG Cheche Grp (18 Sept). FBYD Falcon (18-24 Oct).
🔍 How do you plan to adapt or change your strategies for real-world trading based on your experience in this paper trading competition?
Basically, I just put my entry order point (if my order is filled, I will put my sell order), and set a reminder if I drop below the stop loss point. And let it be (have class, cannot always monitor). Also, keep learning.
📑 Lessons Learned: Always follow the trend (Trend is your best friend). I always say this. :)
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