I'm sure i am not alone... many would have taken profit and miss a bulk of this rally. I was sad.... to see the price flew off after taking profit... wah... fly a bit nevermind, not when i only capture 8% gain out of 40%? It took me 2 days to get over it. For the record, i didn't chase the rally. Past experiences of pain told me to act sensibly. A couple of things, I didn't make my money at the beginning of the last bull cycle. I made my money during the upward trend, and the recent bear market. Hence i know, miss this round, no problem! There is always the next trade. The most important thing is that i must know what to observe before i put on my next trade. It's actually bery simple... the first pull back, i will not short, rather, i will find the low and go long. Now after i long, i will be looking to see if we can break previous high, if we fail to do so, we would have a lower high.. from there, i will run my longs, then turn short... i will add more shorts, if we break the previous low. If we dun form a lower high, then it will be safe for me to add more longs and continue to trade on the upward trend. All these will be done with the help of a few indicators and candlestick patterns.
I think even fund managers will take profit around here or slightly higher. Such good profits, why would they leave it on the table? They are the experts, surely they will take profits and register the half year gains in their report? keke It's where the retracement holds that's key for many traders now.
Today STI retraces, i observed from my screening that nothing bearish as yet.. it could still go either way. Continue to observe.
DISCLAIMER: The contents in this website are for fun reading and must not be taken as a buy or sell advice. You must do your own analysis on top of my postings. By reading this blog, you agreed that i am not responsible for your trading.
