Wednesday, July 27, 2005
Market roared alive! Focus on Rotary
Our market continued to edge higher. Such is the buying interest. It sets up a perfect stage for tomorrow's Mapple Reits IPO! It's a much talk about Reits and I'm so tempted to punt abit. However, a quick trip back to memory reminded me of a very true quote. "If you want to punt, go to a casino, where the returns are higher and faster. What for punt in the stock market with a lesser odds of winning and poor ROI for a quickie(quickie means quick trade)." Nope, I shall not punt tomorrow!
What is a trading system? I have talked so much about it but what exactly isit? If you think it means indicators or trendlines, WRONG! These are tools you use based on your trading system. So what exactly is a trading system? They are rules. Rules that are tailored for the trader you are, tailored to suit your personality. Personality as in your risk appetite, your money management rules, when would you buy and when would you sell. I have my own set of rules that formed my trading system. I will share it over the weekend for your reference. These rules are my lessons learnt over the year. So what is a trading plan? Tell you more tomorrow. hahaha!
Now for stock picking time! : )
All the breakout yesterday did not rocket off. All suffered retracements. What could be wrong? Fundamentally something underlying could be changing. Trade with care. Know ur stop loss and you will be fine.