The Amateur Trader, who prefers to be known only by his online handle, is a self-employed person based in Singapore and is presently supporting 2 babies, a wife, a flat and a car on a single income. We had a chat with him to find out how the COVID-19 might affect his financial situation over the next few months and got some unexpected answers.
“The stupid person will ask how much this is going to cost me. The smarter person will ask how much I can earn from this.”Q: Hi The Amateur Trader, thanks for coming on to share your perspective. When did you first hear about the 2019-nCoV / COVID-19 coronavirus and what did you think of it then?
A: I heard about it in Jan. The first thing that came to mind is concern because my family is in the medical and healthcare sector and also, my wife was due to give birth so I was imagining the logistical issues it could create.
But I also reminded myself, that a crisis in general (not specifically of this scale), also presents opportunities to profit, as I have seen before.
How concerned are you now? How many people do you personally know who’ve been affected by the coronavirus?
I am concerned for my kids. Of course my family is personally affected too, being in healthcare. But in the financial markets (and I speak with regards to stocks), trends are emerging and if you are systematic and nimble about it, it does present opportunities to profit. So financially at least, that’s not so bad.
You identify as self-employed. Can you explain what that means and describe how you earn a living?
I am working towards multiple income streams to earn a living. Stock investing and Options Trading is just one of the means.
How has COVID-19 affected the above? How badly have your regular sources of income been disrupted?
It has affected sources of income of course. It’s bad… but because I am working towards having multiple streams, I know it could be worse. Currently, as of Feb 2020, the most regular source has so far been the stock market.
What have you been doing to stay afloat?
Specifically with regards to stocks. I am going shorter than I normally would. Locking in profit as income and capital consolidation (to prepare for the next positions I take) became a priority.
For how long do you think you can survive—financially and physically—if things continue as they are now or get worse? Had you ever planned for such a situation?
I have planned for such a situation. It’s the disease of being self-employed, where you know not every day is Sunday. Financially, as long as there’s a stock market performing the way it has been in the last quarter, there’s potential financially.
What do you plan to do if COVID-19 brings the Singapore economy to a standstill for more than 6 months?
I am more heavily vested in the American stock market than Singapore, so as far as financially and stock market wise, so it doesn’t make much of a difference to me.
Honestly, it is my opinion that COVID-19 is less of an issue (in terms of stock and financial markets) than other geopolitical issues, especially the American Presidential 2020 Election in November.
Do you think anybody or any organisation—government or private—will be helping you out if the economy continues to tank?
No.
How will being put on quarantine, Leave Of Absence (LOA), or contracting the virus affect your financial situation?
It would affect my family having 2 babies. But financially, it may be better since I would have more time to monitor the stock market if I wish to do short plays.
Which 3 items or people are most useful for you right now?
My trading platform and stock market charts.
Lastly, what have you learned from this coronavirus outbreak that you didn’t know before?
The stupid person will ask how much this (the coronavirus) is going to cost me. The smarter person will ask how much I can earn from this (coronavirus). Which one do you want to be?
Remember that the best opportunities to make profit lies when the whole world ‘seems like it’s coming to an end’.
My idea of fun is reading earnings reports and looking at stock charts so when this virus happened, one of the things I did was to pull out charts of the stock markets during SARS so I had a reference of how the market could move.
I also did that in early Jan. The US fired missiles into Iran; I pulled up the stock market charts of the Afghanistan war in case the situation escalated.
I have learnt to always remember that there is an opportunity.
*Disclaimer: The above opinions are The Amateur Trader’s own on the day he completed this interview and should not be considered as specific investment advice. The risk of loss in trading the stock market can be substantial. Readers must consider all risk factors before trading.
The Amateur Trader is presently working to be a better stock investor/trader by remembering always that “the pain of discipline is always less than the pain of regret…” (his words). You can get more of his wisdom on his Facebook page or share your thoughts and questions with him using the comment box below.
More interviews with those affected by COVID-19 in Singapore and other parts of the world to come. Follow the latest in our COVID-19 Diaries series here.
If you’re in China right now or have been affected by the novel coronavirus and would like to share information about the situation where you’re at, do get in touch with us here.
Photographs courtesy and copyright of The Amateur Trader. Interviewer: Sy
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