Been going to JB alot recently. Friend drives and so we go for makan, shopping and movies.
The whole premise of JB is that we'd spend less because of the favourable exchange rate.
How ironic that we end up spending more by buying durians, groceries, watching movies, eating cze char by the bucketload.
Can this be said the same of commission charges? With SCB, I've seen people making more reckless trades as the commissions are much lower. Eventually, what is premised to be a money saving exercise actually cost people more in losses....
Hi Isaac,
ReplyDeleteI believe that ultimately, it boils down to discipline and self-control in ALL aspects of our life, not just trading.
Regards,
Musicwhiz
Haha so in that sense HSBC is the best brokerage with its $35 minimum and 0.30% rate.
ReplyDeletestudent
When usually we think we have a good deal, we end up paying more out of the pocket. This is how businessmen twitch our mentality. Buy 10 durians get 1 free. SO if even u cannot finish 10 durians, u die die want to buy 10 for that 1 free since cost less per durian.
ReplyDeleteLikewise, many investment courses and seminars ask u to attend to make your million. Of course u need to pay your thousands to make the organiser reach their millions as they don't show u how they actually make their million by collecting fees of a few thousands from 30-50 students every few weeks.
Hello Isaac,
ReplyDeleteWell, you had fun in JB! Never mind even if you had spent more in total.
The same goes for trading/investing. Not everyone does it for the money... Addiction to the thrill of trading and investing for our future is not that easy to separate.
People come into the market for different reasons. The top most one being satisfying their ego. Buying 10 durians and getting one free, shows that the buyer is shrewd. Every trade, whether a loss or a gain, is for feeling good.
ReplyDeletehi MW,
ReplyDeleteyes, I think you hit the nail on it's head!
hi Student,
Haha, well, I'm just saying that lower costs make people more reckless! Having said that, still think the local brokers charge too much :(
Hi financialray,
well, that's life and we just have to be smart enough to see thru all their antics.
Hi SMOL,
We should call a spade a spade. if someone is gambling, by all means, but don't say you're investing. hehe!
Hi futures-explained,
I certainly hope we feel good whether loss or win ;)
Another informative post.
ReplyDelete