Tuesday, January 25, 2022

Week 2: 20k to 1 Million Challenge

 January 26, 2022

Trading and investing in the Philippine Stock Exchange is quite challenging amidst the low liquidity and low retail investors participation. The Philippines only has 1% of the entire population that are into stock trading and investing. Whereas in the US, almost 55% of the population are into it. Despite the challenges in the local market, I'm very inspired to start a trading challenge. I'm planning to grow a Php 20,000 capital into Php 1 Million.

I know it is kinda farfetched because of the macroeconomic environment wherein the US Fed will raise interest rates which will put heavy pressure to high risk assets such as equities, stocks, and even crypto globally. But, I'm very optimistic person and I believe it is possible to grow a small capital.

BTW, Here is my trading platform BDO Securities which had a buying power of Php 21,531.

I bought 600 shares of $CNVRG at the market price of Php 31.5 per share (as of Jan. 26, 2022). (Ave price plus commission: Php 31.59)

Let's see in the coming months. I'm planning to do position trading meaning I'm just buying and then sitting for months or even years in order to maximize the run-up of this stock. Converge is one of the fastest growing company in the Philippines. The growth and increasing earnings is still intact and in-play. My target price would be around Php 40-41 per share.

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