Day 2 [Unlock Your Trading Knowledge with Webull] Quiz 5

Answer the questions below and stand a chance to win a Fujifilm Instax Mini Evo Instant Camera worth $309!

Q1: Can you open a Webull account with Singpass?

Q2: Must you have a valid Customer Knowledge Assessment (CKA) to trade unlisted Specific Investment Products (SIP)?

Q3: What is the primary difference between a mutual fund and an ETF?

ETFs can be traded intra-day like stocks on the stock exchange, while mutual funds only can be purchased /sold at the end of each trading day based on the NAV(Net Account Value)
Mutual funds are generally passively managed, while ETFs are mostly actively managed.
Mutual funds have lower expense ratios compared to ETFs.
Mutual funds invest in individual stocks, while ETFs invest in a basket of securities.

Q4: Open-Ended Question -

What do you consider to be the most challenging aspect of trading, and how do you work to overcome it?

The winner will be chosen based on:

i. highest number of correct answers on the multiple-choice questions; and

ii. most insightful and/or informative answer in the written format.

Good luck! ✨

For more info on the prizes and terms & conditions, visit here: https://bit.ly/3ru3z8b

This campaign is brought to you by Seedly and Webull. (https://seedly.sg/reviews/online-brokerages/web...)

Webull Singapore

Discussion (32)

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Miao

18 Jul 2023

Q1: 1 - Yes

Q2: 1 - Yes

Q3: 1

Q4:

As a retail investor, the most challenging aspect of trading is overcoming emotional biases and maintaining discipline in decision-making. Here's how I tackle this challenge:

Self-Awareness: I recognise the emotions that can influence my trading decisions, such as fear, greed, or impatience. Being aware of these biases helps me make more rational choices.

Follow a Trading Plan: I create a well-defined trading plan that outlines my strategies, risk tolerance, and clear entry and exit points. Following this plan helps me stay disciplined and avoid making impulsive decisions based on emotions.

Risk Management: I prioritise risk management by setting appropriate stop-loss levels for each trade. This way, I limit potential losses and prevent emotional reactions from adversely affecting my decision-making.

Continuous Learning: I am committed to continuous learning about trading strategies, market trends, and psychological aspects of investing. This knowledge equips me with tools to manage emotions and make more informed decisions.

Practice Patience: I remind myself that trading is a long-term journey and success is not achieved overnight. Patience allows me to wait for the right opportunities and avoid getting caught up in impulsive trading decisions.

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Francis

01 Aug 2023

Q1. 1

Q2. 1

Q3. 1

Q4. It is to have an emotional attachment to any particular stock.

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Joon Wpj

27 Jul 2023

Q1. 1

Q2. 1

Q3. 1

Q4. The most challenging aspect of trading is managing emotions and avoiding impulsive decisions, and to overcome it, I focus on discipline, set clear trading plans, practice risk management, seek advice from others, and continuously improve my knowledge and skills as a trader.

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Janilyn Kok

25 Jul 2023

Q1. 1

Q2. 1

Q3. 1

Q4. Most challenging aspect of trading for me is the mental psychology after 1 bad day of trading. allowing yourself to acknowledge what went wrong, if you were sticking to your trading plan. and to re-start the momentum again and continue to trust your Technical analysis and trading skills. 1 thing i found helpful is to keep encouraging yourself even after a bad trade. 1 bad trade could benefit once we learn from that and also, being able to stick to our trading plan so that we know when to sit out and remembering to look at both the macro and micro perspective.

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