For the past few days of trading....in fact just 3 days since the New Year, I have made back more than 30% of the loss. But if not for some itchy backside trades...I could be in the plus side.
Only during this Tues' mentor session....this guy Tham and the HK lady's in-sight for the stock market does help me see the market differently. At least from a different angle...therefore, help me to understand that we don't trade for fun as we will lose money doing that. So...only trade for profit if the stock is worth the trouble.
Now...I will review all my trades and make adjustment to trade for profit and must have something to show at end of every month.
Wednesday, January 6, 2010
Friday, January 1, 2010
The dreams and wishes of this baby whale for 2010 and the new decade
Wishing myself and my loved ones....A HAPPY, HEALTHY, SUCCESSFUL 2010 and for the rest of new DECADE!!!
Let's this be a new start for my life as a full-time stocks trader. And that I will be able to make enough to maintain my present lifestyle and have enough money left to be able to go on year-end holidays if possible to buy a small flat to live in hahaha :).
When I mastered the stock market....and with time in hand, I will look into ways how to trade successfully in forex too. My one priority for the moment....is just to master the stock market trading.
Then after a good couple of years of trading....able to teach to some paying students. This would be the best possible wish I can think at this stage of my life. By then....
I don't have to worry about money or having enough money for this and that!
Let's this be a new start for my life as a full-time stocks trader. And that I will be able to make enough to maintain my present lifestyle and have enough money left to be able to go on year-end holidays if possible to buy a small flat to live in hahaha :).
When I mastered the stock market....and with time in hand, I will look into ways how to trade successfully in forex too. My one priority for the moment....is just to master the stock market trading.
Then after a good couple of years of trading....able to teach to some paying students. This would be the best possible wish I can think at this stage of my life. By then....
I don't have to worry about money or having enough money for this and that!
Thursday, December 31, 2009
Outlook for 2010
For the start of 2010....meaning come 4th Jan Monday, the stock would start higher then it will start to drift from there on becoz for the last couple of weeks before the end of the decade the market actually made up quite a bit of ground. So it wouldn't be a surprise for the market to pullback and rest if not then when the pullback happens it would be deeper and full painful for everyone. That is for SGX.
As for HK market....it would be a different tack with the market shooting higher at the start and it shall head higher for at least a few day longer before profit taking take holds. Then...it will drift lower till maybe end of the Jan before it starts the second round of moving higher esp towards the Chinese New Year period. Why this? That's becoz the HK market has gone thru a small correction prior to the X'mas and New Year period when most of the "ang mo" traders closed the books for the year and go for their year-end holidays. And since some of the counters in HK market...has fallen to attractive level...they would be buying opportunities for them. I shall be paying greater attention to this market and at the same time....clearing some of my SGX counters to do a house spring-cleaning and to raise fund for a better fight later.
For the moment....I shall keep my fund at present gearing, meaning that I shall not add any new fund to my trading thus I shall be controlled in a sense until I can show a profit for my present trading fund at MF Global. At moment....I have closed my book for the month with a 25% nett loss. Yes! I have traded actually for a full month.
For a review of what has happened that caused the 25% loss....was that I tried to do day trading with those pullback stocks with my view that this will be rebounding soon. yes....some do, but some don't. With faster drop that caused me bigger losses.
Thus....my trades can be summed up as winning small amount while losing bigger amount becoz of stocks "stopped out". During this 1 month period....I kena "9 to 10" stopped out situation which caused most of the damaged to the funding, while I make more winning trades but due to smaller wins which after minusing commission and interest charges as I am suing the DMA - CFD system, my fund is still showing negative balance at the end of 1 mth trading. That is also the main reason why...I didn't want to increase my funding anytime soon. Really cannot to afford to lose money at the same time I hate the idea of ever losing money.
As for HK market....it would be a different tack with the market shooting higher at the start and it shall head higher for at least a few day longer before profit taking take holds. Then...it will drift lower till maybe end of the Jan before it starts the second round of moving higher esp towards the Chinese New Year period. Why this? That's becoz the HK market has gone thru a small correction prior to the X'mas and New Year period when most of the "ang mo" traders closed the books for the year and go for their year-end holidays. And since some of the counters in HK market...has fallen to attractive level...they would be buying opportunities for them. I shall be paying greater attention to this market and at the same time....clearing some of my SGX counters to do a house spring-cleaning and to raise fund for a better fight later.
For the moment....I shall keep my fund at present gearing, meaning that I shall not add any new fund to my trading thus I shall be controlled in a sense until I can show a profit for my present trading fund at MF Global. At moment....I have closed my book for the month with a 25% nett loss. Yes! I have traded actually for a full month.
For a review of what has happened that caused the 25% loss....was that I tried to do day trading with those pullback stocks with my view that this will be rebounding soon. yes....some do, but some don't. With faster drop that caused me bigger losses.
Thus....my trades can be summed up as winning small amount while losing bigger amount becoz of stocks "stopped out". During this 1 month period....I kena "9 to 10" stopped out situation which caused most of the damaged to the funding, while I make more winning trades but due to smaller wins which after minusing commission and interest charges as I am suing the DMA - CFD system, my fund is still showing negative balance at the end of 1 mth trading. That is also the main reason why...I didn't want to increase my funding anytime soon. Really cannot to afford to lose money at the same time I hate the idea of ever losing money.
2010 - a new year and a new beginning for me and my loved ones
Yes....I will make this a great start for new beginning for me as a "babywhale" trader at this moment to be a "killerwhale" trader by the end of the learning curve. No other choice if I want to make it as a trader. A trader that can make a comfortable living just from the trades and not just from doing a regular 9 to 5 type of job.
A trader who can provide the same standard of living or better for my family and loved ones. Plus the fact that I can have a oversea holiday at the end of every year the same for those professional traders and dealers. Maybe instead of the super high-class type, I am fine with just 3 stars standard ones to near-by Bali or Thailand.
I shall do whatever it takes to make this happened....to follow the rules! hehehe
A trader who can provide the same standard of living or better for my family and loved ones. Plus the fact that I can have a oversea holiday at the end of every year the same for those professional traders and dealers. Maybe instead of the super high-class type, I am fine with just 3 stars standard ones to near-by Bali or Thailand.
I shall do whatever it takes to make this happened....to follow the rules! hehehe
Let's have winning trades from now on!!! HUAT AH!!
Yes....HUAT AH!!!! Let's hope that this is a good start for the coming year and decade esp for stock trading!
Whatever it takes to make the above happened....I must pay attention to learn and master the methods and to follow the rules to success!
Will go back to the basic of T3B trader's rule and method....plus to improve by fine-tuning the system to suit the situation for that moment as no one rule suit all trading conditions.
Went to Tuesday's mentor session and learned something from that too....esp for the fundamental view point that stated that we must follow the stock that can break peak or new high. At the same time....to set the stop-loss order as soon as the trade is confirmed done. The stop-loss sell off price should be strictly capped at max 8% of share price or lower. And to put a trailing stop loss whenever the stock price goes higher in order to protect the profit. Never to worry of selling off a bad stock even at a loss then holding onto a falling knife.
This week....I have better winning trade ratio. Win 4, loss 1....the trouble is that I didn't keep long enough to ride the trend or else I would have make back all my previous 2 week's losses. From this....I can sensed the possibility of making trading a full-time job if can keep strictly to the rule of the game. Same for forex trading too. What I learn so far, can be used for forex trading too. It is universal set of trading rules.....eg candle stick system, money management system, stop-loss in order to cap losses while to ride out the trend ( which I didn't follow - yes! I was trying to find a system that suit me ).
Whatever it takes to make the above happened....I must pay attention to learn and master the methods and to follow the rules to success!
Will go back to the basic of T3B trader's rule and method....plus to improve by fine-tuning the system to suit the situation for that moment as no one rule suit all trading conditions.
Went to Tuesday's mentor session and learned something from that too....esp for the fundamental view point that stated that we must follow the stock that can break peak or new high. At the same time....to set the stop-loss order as soon as the trade is confirmed done. The stop-loss sell off price should be strictly capped at max 8% of share price or lower. And to put a trailing stop loss whenever the stock price goes higher in order to protect the profit. Never to worry of selling off a bad stock even at a loss then holding onto a falling knife.
This week....I have better winning trade ratio. Win 4, loss 1....the trouble is that I didn't keep long enough to ride the trend or else I would have make back all my previous 2 week's losses. From this....I can sensed the possibility of making trading a full-time job if can keep strictly to the rule of the game. Same for forex trading too. What I learn so far, can be used for forex trading too. It is universal set of trading rules.....eg candle stick system, money management system, stop-loss in order to cap losses while to ride out the trend ( which I didn't follow - yes! I was trying to find a system that suit me ).
Reflections and resolutions at the start of 2010
For reflections....well, guessed I have to accept whatever happened from 2000 till yesterday 31/12/2009. Both my parents passed away after years of sickness....and yes!
it is sad to be an orphan but to see them suffer, I felt a greater pain in my heart as guessed I should consider that it is better for them this way.
Resolutions for the new year and new start of the decade - Yes, I want to be a good full-time stock trader and also equally good for forex trading too. What I meant by good? Good is the sense that I should do whatever it takes to be successful as a trader and make a comfortable living from it plus have time to do other activities....eg charity, go to gym, swimming, have a comfortable small home again....a car plus a healthy bank account for my retirement. I am not even asking to win back what I have lost in my past trading experience. Or...at least it can give me a passive income if I have other full-time job.
Please God....hear my prayers and granted me this wish, to be able to trade right and to be able to make a living out of it from now on.
it is sad to be an orphan but to see them suffer, I felt a greater pain in my heart as guessed I should consider that it is better for them this way.
Resolutions for the new year and new start of the decade - Yes, I want to be a good full-time stock trader and also equally good for forex trading too. What I meant by good? Good is the sense that I should do whatever it takes to be successful as a trader and make a comfortable living from it plus have time to do other activities....eg charity, go to gym, swimming, have a comfortable small home again....a car plus a healthy bank account for my retirement. I am not even asking to win back what I have lost in my past trading experience. Or...at least it can give me a passive income if I have other full-time job.
Please God....hear my prayers and granted me this wish, to be able to trade right and to be able to make a living out of it from now on.
Monday, December 28, 2009
Trading with my new set-up
Yes....tried out my latest set-up of trading during the first 15 mins of opening esp to buy or sell. Why this?
Yes....read about this esp to get the best price out of the trade. Buy...if the previous closing of US market is "down" and to sell...if the US market closed up with big gain. Usually the market here will gap "up or down" becoz of the US market closing and I can take advantage of the situation if I want to trade. If not....then just forget about trading and do other activities eg swimming, go to gym or just wake-up late hehehe.
For this morning trading...managed to get out of both trades at the next highest price and after which the stocks drop back.
Tomorrow...will go to the final mentor's session for 2009 and to see what's up and the latest news. Yes...also to see and share ideas with the "kakis".
Yes....read about this esp to get the best price out of the trade. Buy...if the previous closing of US market is "down" and to sell...if the US market closed up with big gain. Usually the market here will gap "up or down" becoz of the US market closing and I can take advantage of the situation if I want to trade. If not....then just forget about trading and do other activities eg swimming, go to gym or just wake-up late hehehe.
For this morning trading...managed to get out of both trades at the next highest price and after which the stocks drop back.
Tomorrow...will go to the final mentor's session for 2009 and to see what's up and the latest news. Yes...also to see and share ideas with the "kakis".
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