When I lost money in 2004, i did made 2 good wins of 20% ROI... Junma and HGM...of course along the way, they took back everything from me too. But the point i'm driving at is, they are the reasons why i never gave up trading. I knew the books were right, all I need is a few big winners and I can have massive wins! Now closing my positions on Ho Bee and Capitaland, I had effectively recovered 50% of my total losses! This is achieved in just Jan'06. If I continue to trade the way I am now....i'm sure 2006 will be my most satisfying year! Not because i win back my losses. Most importantly my trading skills improved! As a trader, do not think of profits first. Learn to Survive in the market, then go for profits...then massive profits!!! Learning the skills is more important for the benefit of the long term. I wrote all these not to impress you or trying to be a proud peacock. My main objective is to get you to learn with me, stop all the mistakes that are re-occuring. They are hurting the pockets!
As for the market, we are badly affected by the more than 400 points decline in Nikkei. There are no economic reasons for the selling today. More of a reactions to Japan. Infact all the fundamental data looks fine and we are expecting a wave of strong results coming soon. But in trading, i learnt to be cautious on the safe side. No doubt greater risk comes greater rewards. But there is also nothing wrong in growing ur money slowly and surely. : )
Onion Tech - I sold onion tech because I want to restrategise my game plan. I bought it due to greed as mentioned as previous post. It is a lost. Fully deserved it because i did not stick to my trading rules. Wat are the chances of it breaking out like a celestial? BeautyChina? Possible but not high chance. Hence I rather cut my losses while it is still small. Consolidate all my cash and get ready for the next chance. Sigh...my first lost after 7 consecutive wins leh!!!! so sad record broken!
Ho Bee- I sold!!! hehe After holding for so long, i gained 20% ROI. 1 lesson i learnt here is the number of missed opportunities during the time when my cash is tight because I parked at Ho Bee. I must remember, i am a trader. Someone who buy low and sell for profits. My funds should be very liquid.
Capitaland- 97% ROI. After missing out on a similar chance last October, no way am i letting this one slip out of my hands! I cashed out after sensing heavy selling. Also it makes sense because why should I use my 97% profits to go for that extra less than 10% gains which doesn't look likely to happen? I remembered my misses with DBS, SPH & KeppelLand last October. No way am i going to miss it again!
*Growmoney QuickPick*
Fungchoi
Sinomem
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
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