As i stumble onto my desk to prepare for homework, i can't help but feel stupid sticking to my trading system. It's not that it is not working. But i missed out too many opportunities while waiting for the Gem to pop out of the system. Suddenly, my eyes caught sight of a book.....The CandleStick Course by Steve Nison. Shit! Why didn't i think of that! I should employ another trading system that will allow me to trade short term. So while waiting for my Gem to be discovered, I can practise charting with Candlesticks combined with Stochastics. It worked damn well for me back in Nov'04. I remembered collecting $1.7k in that month alone trading! How the heck did I forget this trading system? In Trading, there is no 1 size fit all trading solution. Trading is an art, market is a dense forest. You need an arsenal of systems and indicators to survive!
In his book, Steve has said to combined eastern candlestick analysis with western indicators for a more complete analysis. As for me, I devised my own "Satay Stick Analysis". hahaha :D I used Candlesticks + Stochastics + MacD Histogram(weekly chart) to pin point buying signal for short term trading.
In his book, Steve has said to combined eastern candlestick analysis with western indicators for a more complete analysis. As for me, I devised my own "Satay Stick Analysis". hahaha :D I used Candlesticks + Stochastics + MacD Histogram(weekly chart) to pin point buying signal for short term trading.
MMI Holdings
I feel stupid looking at how my discarded Gems like CSE Global, Jaya, Raffles Edu bounced back today. I think I am being too narrow minded in trading. I neglected market sentiment and tweaked my GEM discovering trading system too much. From now on I shan't change something that is working.
Market was boosted by the June Industry output. It beats analysts forecast of 3.1% by registering a fastest rate of 11.1%. Drugs leads the way. It was also mentioned that 2Q GDP could be lifted because of this. This time ho say liao....with property boom going to happen at the same time.....what can I say? Let's Rock'N Roll STI & Sesdaq!!!!!
Please pay attention to UTAC. It seems like tech has really bottomed out....So many tech companies gives better results. A sign of orders picking up. Tech stocks can be volatile. So be nimble! As for me, i'm waiting for a clear signal from T.A to enter! :D The results were good but surprisingly there was no buy on rumours and then sell on news. Worth a punt tomorrow!
