Up-date till to-date

Didn't have a chance to do any up-dating....btw no trade on Monday, just watched the Korean drama the whole day and up to almost 2am that night. Can hardly keep eyes open too by them....guessed both me and wife must be sleeping half the time too.

Tuesday....itchy back-sided, I went in to buy 20 lots of Epure at 76.5 cents then when the HK market started one hour later, I also went in to buy 2 counters.

Till to-date, sold off 1 HK counter for a 10% profit, thought it was a big return for a single day since I need to sleep as I am working from tonight onwards. Shit...at 5;15pm woke up and check, saw that the HK market went up by 200+ points...no wonder the 2 counters went up lor. For Epure....down again to 73 cents.

My new plan was that I will only trade when I have a strong gut-feel that the market will go up if buy "long" or "short" when market is going down. For the moment, don't think I will be doing any shorting as there is no clear trend of showing that the market is on a down trend...even for HK market after losing more than 700+ points last week. It is a healthy mini-correction at most, so....timing the market is very important if want to trade. No point trading for the sake of trading....still got
to pay for commission and interest if kept over-night since I am using CFD.

The other important point is that I shall keep to the max....3 counters at most, that way I can focus on what is happening and in tune with all my trades. The main aim of all these is to make money while protecting my capital. I realised that after losing 30% last week...I have to make back up to 43% in order just to break even for my funding. That is not an easy task. So money management is "super" important part in the "whole concept" of protecting of capital. Therefore stop-loss is the main step to take if the market is turning against me. No second guessing anymore....keep cut stop-loss to the minimum % age.

Good example is today.....market up but still managed to make less than 10%. But when it was down eg on last Thu and Fri....I got 6 "stopped out" and I lost more than 38%. On Fri morning....before I go and sleep, the 4 counters were still trading fine but by the time, I woke up at 5pm....all gone!!! And by then....the market also rebounded too. SHIT....just came down enough to eat my positions then bounded back! That taught me one thing....no focus, no trade!

Really cannot afford to make too many silly mistake with real money....as it is not easy to win back again. I remember that most trainers and books....talk about 90% of all traders lost money, therefore I must make up my mind not to be in this 90% group or else....might as well give up now then just to lose money and time doing this.

If....I seriously want to be one of the winner then I must put in all my efforts to make this work for me. If need to go for re-course then I have to go, if need to rethink my concept of trading....then stop all trades and do a review before trading again. There must be a cause for the failure....mah!