Sunday, 30 January 2022

Why it is important to track your transactions and know the average entry price of each counter

Welcome back to another episode of SingaporeanTalksMoney. Today’s topic is on personal finance and why I find it important to track down your investments and to know your average buy prices.

How I track my investments

For my stocks portfolio, I concurrently use InvestingNote as well as Google Sheets to track my buys. I do track my sell transactions on InvestingNote but not on Google Sheets as I do tend to hold my stocks for the long term. In my google sheets, I track just some basic items so that it is easy on the eye and not too many data to look at.

But of course, the main few data that is important to me are the number of holdings, cost price, current price and total amount in SGD of cost price and current price. These few data allows me to know at what prices I entered or the average price of my current holdings, this will allow me to gauge whether to average up and down and how it would change my cost price. Knowing the total amt of your holdings times the cost price and current prices will let you know if you are in profit or losses.

Tracking my cryptocurrency holdings

I mentioned in a previous post on how I track my cryptocurrency holdings using Blockfolio (now know as FTX App). However, I became a little lazy and did not track my crypto buys as I felt that the small amounts I was buying was negligible. What a wrong thinking that was, as the amounts build up, I realised that I had no clue on my average prices and how much I had put in. This was confusing as when I had extra cash on hand, I wasn’t sure when was a good price to go in due to not being aware of the average price and my buy transactions.

I knew that it will not be good in the long run and so I went back to the different exchanges and keyed in my transactions to find out the details. I am more of a buy and hold investor so it was not very difficult to track back all the transactions but if you do lots of buying and selling, it will be good to start tracking as soon as possible.

Why it’s important to track down my trades and knowing my average buy price

With the recent dip that happened, it was a great buying opportunity and although most were down, there were a few cryptocurrencies that were holding strong. By comparing your holdings and average prices, you can decide on which few you would like to allocate your funds to or to focus on which few.

After figuring the whole tracking system out, you would be able to see all of your holdings at a glance and as you track the current prices, you can also compare it to your average price and see if it is a good time to buy in or to sell.

That's also why some people prefer robo-advisors where reports and the records are done for you and you just have to refer back to the app to see the numbers which I think is pretty neat. 

Moving forward

Even though halfway through tracking my transactions, I was lazy and stopped, I realised the importance of it. Being able to continue on from where I stopped was good for me even though you might find it tedious when you make small purchases per month, in the long run, you will thank yourself as you see how your average price and current price spreads apart haha, the bigger the difference, the better it is.

For me, my stocks holdings, I continue to track them in both investing note and my google sheets. For my cryptocurrency holdings, I use both the FTX app and google sheets, this ensures that I have records on them just in case anything happens to either the app I am using or the google sheet I currently use. Using google sheets also allows me to build charts according to the numbers I have. Hope this has been helpful and what tracking system or apps do you use? Do let me know!

 You can also find me on

► How I Protect My Bitcoin using Ledger: Get your ledger from HERE (Using my affiliate link will help me where Ledger will pay a small incentive that's not from you but from them)
► How I earn interest on my Crypto (Hodlnaut): https://app.hodlnaut.com/signup?r=_JF037Nb0 Get USD20 equivalent for your initial deposit of at least USD1000 on any of the supported asset by using my referral link
►Join Celsius Network using my referral code 1169038ddc when signing up and earn $50 in BTC with your first transfer of $400 or more! https://celsiusnetwork.app.link/1169038ddc
► Where I Buy my Cryptocurrencies: Gemini (Receive $10 of bitcoin after you buy or sell $100 after signing up using https://www.gemini.com/share/558gylyhg)
►FTX: https://ftx.com/#a=41877278
►Use my referral link https://crypto.com/app/evwynu4g57 or code: evwynu4g57 to sign up for Crypto.com and we both get $25 USD :)
► Where I buy my stocks
FSMone Referral: P0364886
Tiger Brokers (Free stock and commission free trades, check out more here
Interactive Brokers (Open an account today and start earning up to $1000 of IBKR Stock for free!*Terms and Conditions apply)
► Google Pay: v89ph61
►Syfe Trade Referral Code (get $10 cash credit): SRPSL8MGX
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Sunday, 23 January 2022

Feeling the burn | What are you doing in this sea of red? Keep calm and buy the dip?

When the market opened on Friday night, wow, my portfolio was a sea of red. Tesla ended the night at $943 and ended at $936 in after hours, both numbers we haven’t seen in awhile and with my majority of stock holdings in Tesla, my portfolio has taken a beating.

On the other hand, cryptocurrencies has been dipping to levels that are pretty scary, with Ethereum (my biggest holding) breaking below $3000 and Bitcoin in the $30,000 territory. I am ready to do some small buys. nothing too big at the moment as we are not sure if low can go lower. I have also stopped looking at my portfolio ever so often during this period because some times it’s better not to know how low it has gone haha, to allow yourself to still have the courage to DCA in.

More pain ahead

I think we all have to be prepared for the dip to go lower and not to be too affected by it. I will still stick to my DCA plan but will also observe from the sidelines if my cash position is not robust enough and I will build it up further. I mentioned in my end of year portfolio that I am low on cash now and I like to build it up. What a great timing, haha, the dip comes and it seems like a great time to buy but cash is low.....but do always assess your situation first before diving in. So for now, small purchases for me.

Read more: Let's go! 2022 | Financial Goals

Having a peace of mind and the ability to HODL is very important during this period. If you are anxious and don’t want to buy the dip but instead hold more cash, so be it. You do you for the peace of mind but I would slowly buy in small amounts considering the many options where you can buy fractional shares and crypto allows for small amount purchases as well. Do not sell during a market downturn unless you really need to, fear and anxiety might get to you but be calm and know that the markets work in cycles. 2021 was a great upwards and it’s time for the roller-coaster to go down so wait for the next upward ride although no one knows when.

Allocation of cash is important for me, know what you are investing in

I am now building up my cash and stablecoins position which to me is great. My plan is to invest small amounts currently, build up cash and stablecoins and then once that is sizable, I will increase my investment amount. Everyone faces different situation and hence the allocation differs. For me, I really went all out and invested a lot so in 2021 hence I will take it slow in 2022 and invest what I can.

Read more: End of Year Portfolio Review & Reflections | Inching real close to $100,000

Of course, if you have conviction in your investments and have done your research, then it is really a great time to go in. Getting what you want at a good price is not gonna happen every time so if you have been waiting in the sidelines and know what you want to invest in, go for it! You can also make your holding earn you yields while you HODL them eg. using staking or lending to make sure your assets are generating yield even in this red market.

Time to catch up on dramas and buy when my pay comes in

Usually when there is a stock market downturn, I tend to read less news as news outlets would tend to focus on how much has dropped and we tend to remember negative news than good news reported. But I would still read and research more on the current conviction holdings that I have. So move your attention away from the negativity and use the time to learn and understand more. If not, it’s a great time to catch up on dramas or TV shows and when my pay comes in, the allocation begins. Stay safe and get yourself ready!

You can also find me on

► How I Protect My Bitcoin using Ledger: Get your ledger from HERE (Using my affiliate link will help me where Ledger will pay a small incentive that's not from you but from them)
► How I earn interest on my Crypto (Hodlnaut): https://app.hodlnaut.com/signup?r=_JF037Nb0 Get USD20 equivalent for your initial deposit of at least USD1000 on any of the supported asset by using my referral link
►Join Celsius Network using my referral code 1169038ddc when signing up and earn $50 in BTC with your first transfer of $400 or more! https://celsiusnetwork.app.link/1169038ddc
► Where I Buy my Cryptocurrencies: Gemini (Receive $10 of bitcoin after you buy or sell $100 after signing up using https://www.gemini.com/share/558gylyhg)
►FTX: https://ftx.com/#a=41877278 (If a new user signs up with my referral code, I will receive 25%-40% of their fees, and they will get 5% of their fees back)
►Use my referral link https://crypto.com/app/evwynu4g57 or code: evwynu4g57 to sign up for Crypto.com and we both get $25 USD :)
► Where I buy my stocks
FSMone Referral: P0364886
Tiger Brokers (Free stock and commission free trades, check out more here
Interactive Brokers (Open an account today and start earning up to $1000 of IBKR Stock for free!*Terms and Conditions apply)
► Google Pay: v89ph61 
1 comment:

Sunday, 16 January 2022

Let’s go! 2022 | Financial Goals

I am now nearer to the 30s than to being 20 as I will turn 27 in 2022. Shocking how time flies but 2020 and 2021 cannot be considered as being normal (as we stayed at home and time flew past doing nothing) so maybe I am actually still 25 years old? HAHA, I do really get a sense that I have wasted 2 years away because I haven't had to experience many things. I was supposed to fly overseas but that didn't happen as with the other trips that would have normally been planned. As we experience some back to normal (back to office physically), I like to also list down some financial goals for 2022. Just a short one for me to revisit at the mid-year mark and end of year to see how I am progressing.

As I mentioned in my end of year portfolio review, I am at about $80,000 in total for my investment portfolio so hoping to have some form of growth (capital injection + growth of current holdings)

  • Have my investment portfolio break $100,000 or best case scenario, $150,000

As I also mentioned that I like to have some cashflow build up through my portfolio, I will also be aiming to:

  • Have at least $100 in passive/interest per month using various methods

My cash position have been reducing at a fast pace that is pretty astonishing to me. Although this has helped my investment portfolio to accelerate, it does feel scary seeing my low balances. So for 2022, I like to also build up a larger war chest aside.

  • Build up a larger war chest, at least minimally 10% of total investment value. (Currently, I hold $0, DCA every month and just throws in everything except emergency fund)

Don’t want to set too many goals as most of it will involve an increase of cash which I think if I remain in my current job, there won’t be much increase in my monthly salary except for bonuses which depends as well. So let’s keep it at 3 goals. See you in mid 2022 again for a review! Thank you and subscribe to my channel for more content! Been a little lazy since 2022 started but I do have many things to write about!

You can also find me on

► How I Protect My Bitcoin using Ledger: Get your ledger from HERE (Using my affiliate link will help me where Ledger will pay a small incentive that's not from you but from them)
► How I earn interest on my Crypto (Hodlnaut): https://app.hodlnaut.com/signup?r=_JF037Nb0 Get USD20 equivalent for your initial deposit of at least USD1000 on any of the supported asset by using my referral link
►Join Celsius Network using my referral code 1169038ddc when signing up and earn $50 in BTC with your first transfer of $400 or more! https://celsiusnetwork.app.link/1169038ddc
► Where I Buy my Cryptocurrencies: Gemini (Receive $10 of bitcoin after you buy or sell $100 after signing up using https://www.gemini.com/share/558gylyhg)
►FTX: https://ftx.com/#a=41877278 (If a new user signs up with my referral code, I will receive 25%-40% of their fees, and they will get 5% of their fees back)
►Use my referral link https://crypto.com/app/evwynu4g57 or code: evwynu4g57 to sign up for Crypto.com and we both get $25 USD :)
► Where I buy my stocks
FSMone Referral: P0364886
Tiger Brokers (Free stock and commission free trades, check out more here
Interactive Brokers (Open an account today and start earning up to $1000 of IBKR Stock for free!*Terms and Conditions apply)
► Google Pay: v89ph6
No comments:

Sunday, 9 January 2022

Am I doing enough? | Feeling if I have accomplished enough in my 20s

Came across The WokeSalaryman cute drawing on how life is a path we all walk along. This got me into some reflecting and thinking. As another year passes, I have been doing a lot of thinking on what I have been doing, will continue to do and most importantly what have I achieved and what is my direction for my late 20s as I progress towards the wonderful 30s, haha.

A lot of reflection so not so much of finance today, although I would touch a little on it. Reflection to me usually means comparison although I try not to do it because comparison kills, I will never be the best nor the worse and comparing just sinks me into more depressing stuff if I get too much with the comparing. I would say 20s is really a time when there are many changes around your life and if not, you would see the changes or developments in the people around your age.

Work

In my early 20s, I transited from being a student to working adult and you kinda lose the freedom of scheduling your time. When I was in school previously, I would schedule my timetable to be packed on a few certain weekdays and this would leave 1 or 2 weekdays free for me to do my own things. This meant that I had a lot of flexibility over my time and what I wanted to do during my free time.

Then after graduating, work suddenly takes up most of your time on weekdays from 9am - 6pm and your annual leave becomes the only way for you to properly take a break besides the weekends and after office hours. I took awhile to adjust to that schedule and I really wanted to have more free time on hand but well, I am exchanging time for money. I slowly got used to it and with colleagues that were great, it seems like everything was going well although some times the workload was heavy. Now, into a new job, I haven't got to physically meet my colleagues yet and working from home changes your whole perspective of working.

I have to say that our generation or the current workforce would have a lot of adapting and change to handle in terms of our work styles and also just what we envisioned work to be because this whole pandemic changed how work is defined and certain industries really went through an overhaul as physical labour is reduced and automation starts taking over.

I do question myself at times whether do I see my current role being automated in the future and I have to say, "Yes, I do see a high possibility of it" and this kind of makes me think much deeper about my future and what should I do? Although currently, I am not making much changes in terms of my career though I see impending disaster coming haha.

Read more: Will there still be a job for me after the age of 40? | Job security and uncertainty

Finances

I would say I got 'woke' about my finances pretty early on but I did not have a large capital saved up and also my salary is not as huge for me to invest as much as I want. Of course, I would say I am doing pretty all right but when you see friends or acquaintances of similar age and having saved or invest much more, you do question yourself on whether can you do better. But in terms of finances, I am all right as I have the basics/foundation done up and I just need to build on it. I believe it just needs time and capital.

Read more: End of Year Portfolio Review & Reflections | Inching real close to $100,000

Relationships

I have to admit, I don't have many friends and not to mention I am an introvert. It really takes a lot of effort for me to even start a conversation with people or even to continue the conversation. It's really no good because you start to realise the importance of communication skills as you grow older and how a wider social circle can help you in anything and everything. Job opportunities or even chances to grow your fortune, a wider network is what gets you opportunities but sadly, I am far from it.

My social circle has really reduced ever since my university days, even meeting up with some of my friends seems so troublesome as we all have our own commitments. Finding time to connect is difficult and then having to catch up on each other's life is one other thing. Coupled with the pandemic + restrictions, it seems to widen the distance between us. Even though I really cherish some of the time spent with them, it is difficult to keep that same closeness we had.

What am I doing or wanting to achieve?

Often, I would see celebrities around my age and looking their successes, I would feel a little underachieving. But I know we all have our struggles and face different difficulties. I always am grateful for the things I have. I have to admit I am so much luckier than many people, having a roof over my head, having a job and just being able to have my freedom, I would say I am in a better position than many around the world. It's just the constant thinking if I am doing enough as I see others advance ahead. All right, too much thinking. I am grateful for everything that I have and I think I should give thanks to that.

You can also find me on

► How I Protect My Bitcoin using Ledger: Get your ledger from HERE (Using my affiliate link will help me where Ledger will pay a small incentive that's not from you but from them)
► How I earn interest on my Crypto (Hodlnaut): https://app.hodlnaut.com/signup?r=_JF037Nb0 Get USD20 equivalent for your initial deposit of at least USD1000 on any of the supported asset by using my referral link
►Join Celsius Network using my referral code 1169038ddc when signing up and earn $50 in BTC with your first transfer of $400 or more! https://celsiusnetwork.app.link/1169038ddc
► Where I Buy my Cryptocurrencies: Gemini (Receive $10 of bitcoin after you buy or sell $100 after signing up using https://www.gemini.com/share/558gylyhg)
►FTX: https://ftx.com/#a=41877278 (If a new user signs up with my referral code, I will receive 25%-40% of their fees, and they will get 5% of their fees back)
►Use my referral link https://crypto.com/app/evwynu4g57 or code: evwynu4g57 to sign up for Crypto.com and we both get $25 USD :)
► Where I buy my stocks
FSMone Referral: P0364886
Tiger Brokers (Free stock and commission free trades, check out more here
Interactive Brokers (Open an account today and start earning up to $1000 of IBKR Stock for free!*Terms and Conditions apply)
► Google Pay: v89ph6
2 comments:

Sunday, 2 January 2022

End of Year Portfolio Review & Reflections | Inching real close to $100,000

Bye 2021! It has been a huge year for me as I experienced changes in my career, finances and also on a personal level. Of course, this post will very much be on my finances and portfolio updates as I think overall it has performed pretty well.

In terms of my investments this year, I have really increased my risk tolerance and went ahead to allocate more into cryptocurrencies as I find out more about the used cases and how it can provide a better growth rate for my money due to the many various reasons (mainly due to cutting out the middleman). I got the chance to explore DeFi as I joined the Chain Debrief community and it’s been a journey of discovery. Although I have discovered many ways to grow my money, there is a lack of funds as there is only so much I can work with on my monthly income. I try to maximise it as much as I can but am still building the funds up. It’s like there is so much on my mind that I want to do but there is only so much I can do, haha, the contradiction.

*Data and numbers are accurate as of 31 December 2021 as value does fluctuate quite a lot due to the price volatility.

Stocks Portfolio

My stocks portfolio was on a roller coaster ride as well as Tesla is about more than half of my stocks portfolio value. Considering the ride to $1200 then back down and slightly up again, every night was interesting and exciting. Besides adding onto Tesla, where my average cost currently is about $544, I also added QQQ in. I found VOO and VT to be a little too diversified for my liking. QQQ is more concentrated as the top 10 holdings is about 30% of the whole ETF meaning that the top 10 takes up a more concentrated position. Going forward, I will either add on more Tesla shares or QQQ as I don’t really spend much time reading up on stocks nowadays and prefer just invest in what I am currently already holding. So let’s dive into the numbers. At the end of 2020, my stocks portfolio was at a value of about $33,000 and currently it is at about $61,000. There are of course, capital injection that made it almost double in value but the growth of the stocks have also contributed much to it. Compared to November 2021 though, the portfolio has dropped slightly in value as we did have ATHs in Nov 2021 for Tesla. 


Cryptocurrencies Portfolio

Cryptocurrencies have really been occupying my time as there are just numerous projects popping up and so much learning to be done. I have heard people saying that 1 week in crypto feels like a month and a month feels like a year because you are learning so much and your gains might also be exponential. For me, I did find myself getting very distracted as I look for ways to maximise my gains but lost some money especially in yield farming. I was also new and was kinda like paying fees to learn. After learning more, I have moved to using stablecoins for yield farming to be able to at least “protect” my capital as other cryptocurrencies does have high price volatility. Currently, I do have some money in yield-farming like a really small amount and I just harvest the yield monthly or weekly depending if the harvesting justify the gas fees.

Read more: Setting up Metamask and connecting to PancakeSwap | Staking and earning

I have also ventured into NFTs as I bought my first NFT, Mad Meerkat, which I am still holding onto and staking it for that extra boost in yield-farming. It was an interesting journey, the NFT is worth more than I have bought it for although we do not know in future as the team, roadmap and community matters a lot but so far, I am enjoying the community in Discord as we have Christmas giveaways and events to participate and show our NFTs. There is currently a project I am looking at which is the CROugar (minting will be in Jan 2022) and similar to the Mad Meerkat, it will be on the Cronos chain.

In terms of my crypto portfolio growth, it really is the one pushing my whole investment portfolio up. Although my top 2 largest holding, ETH and BTC have been lagging behind in growth comparing to other alts like LUNA, AVAX and SOL, they have been the ones that brought me the largest returns. I am slowly channeling my funds to others as there is a higher chance of them 10x or even 100X. My crypto portfolio currently is at about $26,000.


Investing Strategy going into 2022

Moving forward towards 2022, I want to firstly, have more concentrated holdings although that will not be easy due to the huge amount of developments in the crypto space and not like when I first started where BTC and ETH was the guaranteed few to grow in time to come although they are still but potential to grow might be lesser than others. I will try to focus on 3 main holdings for my cryptocurrencies and just build them up.

Next, I like to also increase my cash flow using the various method available in crypto with stablecoins. It is astonishing seeing the APY that you can get in the crypto world and if you have a sum of money, you can start to generate cash flow to fund your lifestyle or to add onto your investments. As most of my readers know, Hodlnaut is easily my first choice as the ease of depositing and withdrawing is great, also if you are not too comfortable or good with navigating DeFi, Hodlnaut provides you with customer services and help if you require them. After using Hodlnaut to build up some cash flow with stablecoins, I want to also explore Anchor Protocol which LUNAtics really advocate which uses UST, an algorithmic stablecoin that works with the LUNA token. Currently, the APY is about 19% which is great for compounding or just generating some form of interest per month/year/day. All of the above would require funds so I would need to evaluate my allocation as I still want to be investing a certain amount in. All in all, I am looking forward to a better 2022 and it’s been a good 2021 although my social interactions really greatly reduced but things have been so far so good and I am grateful for that. How have your 2021 been and what projects are you looking out for? Do share them with me. Hope you guys enjoy the content and wishing all a HAPPY NEW YEAR!

You can also find me on

► How I Protect My Bitcoin using Ledger: Get your ledger from HERE (Using my affiliate link will help me where Ledger will pay a small incentive that's not from you but from them)
► How I earn interest on my Crypto (Hodlnaut): https://app.hodlnaut.com/signup?r=_JF037Nb0 Get USD20 equivalent for your initial deposit of at least USD1000 on any of the supported asset by using my referral link
►Join Celsius Network using my referral code 1169038ddc when signing up and earn $50 in BTC with your first transfer of $400 or more! https://celsiusnetwork.app.link/1169038ddc
► Where I Buy my Cryptocurrencies: Gemini (Receive $10 of bitcoin after you buy or sell $100 after signing up using https://www.gemini.com/share/558gylyhg)
►FTX: https://ftx.com/#a=41877278 (If a new user signs up with my referral code, I will receive 25%-40% of their fees, and they will get 5% of their fees back)
►Use my referral link https://crypto.com/app/evwynu4g57 or code: evwynu4g57 to sign up for Crypto.com and we both get $25 USD :)
► Where I buy my stocks
FSMone Referral: P0364886
Tiger Brokers (Free stock and commission free trades, check out more here
Interactive Brokers (Open an account today and start earning up to $1000 of IBKR Stock for free!*Terms and Conditions apply)
► Google Pay: v89ph61
No comments:
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