Why this moomoo user traded 'impulsive investing' for long-term wealth creation

The Mooers’ Stories series charts the trading journey wins and learnings of members of the moo community. Get an insider look at how users are navigating market challenges, their most used tools on the moomoo platform, and their advice for anyone wanting to start investing.

After more than 30 years of trading stocks, moomoo user George Lee came to a realization. Until now, much of his trading strategy had relied on reacting to swift market changes and buzz generated by online traders. Ultimately this led to more losses than gains.

Now, Lee is using moomoo’s trading tools and community to shape a more sustainable trading strategy that aims to generate long-term wealth and greater financial stability.

We caught up with Lee to find out the significant lessons he has learned, his favorite moomoo tools, and the advice he’d give to first-time investors.

Shifting focus from ‘FOMO’ to financial stability

Initially reliant on mass media platforms like YouTube, Yahoo, CNN, Bloomberg, for market insights, Lee's trading approach has since transformed. He now embraces a more sustainable and structured strategy, fostering independent thinking and minimizing reliance on herd mentality.

“My trading strategy has shifted away from trading on hype and focuses more on long-term investments and swing trading supported by company fundamentals and technical analysis. By eliminating the noise, I can maintain a clear mindset.

“I came to recognize that ‘FOMO’ or the ‘Fear of Missing Out’ is a very real phenomenon. It can often lead people to overtrade or make trades for the sake of trading, ultimately resulting in more losses than gains.

“Nowadays, if the market is unfavorable or sluggish, I've learned to divert my focus by working on my cars, which provides a good distraction.”

Lee now uses the moomoo platform to research potential opportunities and plan his trades.

“Moomoo provides valuable information for informed trading. It's like having TD, TradingView, Bloomberg, and Twitter all in one.”

Investing in sectors with long-term potential

Lee invests in industries such as EV (electric vehicles) where he sees long-term potential.

“This is just the beginning of the EV market. In the coming years, many of the current startups may either be consolidated or go into bankruptcy. What will remain are the survivors, each carving out their own specific market segment. Competition will likely become less fierce, allowing for more aggressive growth.

“Some people believe that Tesla will be the sole survivor in the EV market, but have you ever seen a single company dominate an entire industry?

“Perhaps Tesla will dominate in the USA, but just like Google, there will be equivalent foreign versions. I believe these foreign EV companies will experience significant and sustained growth for many more years to come."

Gaining a comprehensive view of a company's well-being. Lee uses moomoo to ensure any stock he plans on investing in meets a criteria that aligns with his overall investment strategy.

“If a stock doesn't meet my investment criteria, I either avoid it or allocate only a small portion of my capital to it. I've learned the importance of quality over quantity.”

Realistic expectations + healthy mindset = potential for long-term success

Lee is an active member of the moo community, which connects the platform’s 20+ million users*.

"Being part of the moo community has taught me the invaluable lesson of balancing realistic expectations with a healthy mindset. There are no overnight millionaires or shortcuts to riches, and it's important to approach trading with realistic expectations.

"The moo community has provided me with a platform to share my perspective on stocks. Any potential flaws in my assessments are often identified by fellow key members within the moo community. This interaction has helped bring out the experience that I have acquired over many years of trading.

“This community support has been instrumental in my journey. I'm dedicated to nurturing a healthy environment within the community because I know that the moo community has helped unlock my success in trading."

Want to share your trading story? Send us an email at marketing@us.moomoo.com.

*User data as of 9/14/2023.

Disclosure: This content is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investing involves risks. Moomoo is a financial information and trading app offered by Moomoo Technologies Inc. Securities are offered through Moomoo Financial Inc., Member FINRA/SIPC.