Break the float, sink the ship

Tonight's title is a direct translation from a chinese proverb, "puo fu chen zhou". In English, it should have been burning your bridges. This will leave you with no choice but to move ahead in search of opportunities because you cannot fall back anymore. Why am I talking about this? Recently, I have been thinking alot, what am I doing, what do i want in life? Part time career? Part time trading? Can one really balance and be the best in 2 fields? I myself had felt that one should focus on what he does and be the best in it. Why am I not doing the same? I still remember end of May when I conducted my maiden trading talk to a group. I was very nervous and negative thoughts about lousy delivery keep flashing accross my mind as the moment draws nearer and nearer. With 5 minutes to go, i began to psyche myself up. I keep telling myself, if I am going to screw up, screw up big time! If I humiliated myself that night, at least I know I have tried. As the presentation went on, I began to slip into the "Decipher" of this blog explaining all the strategies, like a possessed man, I explained TA with passion and fire! When I finally finished, boy am I glad to have delivered value to the group of 27. It was especially satisfying when I shook their hands gladfully for the chance to be standing up there. It was the same feeling when I profit from a trade. A very satisfying feeling which spelt "I did it!" inside my head. This feeling was just awesome!

Now, I never remembered feeling so good about myself so far in my career. Though there were happy times when you were commended but the intensity of pleasure was nothing closed to the vincinity of trading. Even monetary rewards depend on how the company is doing and not what you have done. How about pay freeze? Do you still remember Increments that are smaller than brokerage fees? Bonus that is only equivalent to 1 week's pay? Is this what you really want in life? Working very hard and yet know that the pay cheque you are going to receive is exactly the same as last month? Or worse when you know how much you can earn this year because it's 13 months times your monthly pay only? If you work hard in your employment versus your trading, which one is going to pay you more? What would you do if at 45 and you are not wanted in your profession because you are old? Are you going to drag on in life until you have too much liabilities to dare move on to do what you really believed in? It's time to reassess priorities... puo fu chen zhou... Doing 2 things at a time is very torturing. It's either i am going to stop trading and give my career a shot and see how much i can earn or I am going to quit my job and get into the trading industry. I want to be as successful as I can be by the time I reach 30!


SinoEnv

ChinaSun in Focus

Breakout of Triangle with volume was actually a good thing, however today's high volume closed near day's low instead. Something that does not happen in a strong breakout. I had gone in at 0.905 after 0.895 stubborn resistant taken out. Why is the breakout not successful? I studied the conditions of the market. Hang Seng and Nikkei closing weak. Europe market trading largely lower at open. These are the sets of conditions at the point of my purchase. There were no strength accross the board. As tomorrow is Friday, my game plan is simple. If it closes lower than today, I shall take my loss tomorrow. The logic is simple, a sound breakout will not end in just 2 days.


Fibbo Retracement from the rally beginning 0.740 to 0.915.

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