In my last posting, sorry i had to use mandarin because it is a rule for myself to alternatively rotate between the two languages and i can't seems to stop because it is so fun! I remembered last time when i was still an active trainer, my pet phrase is, "Trading must be fun, making money in the stock market must be fun, otherwise you must be doing the wrong things!" How true! Think about it, how many of us have read it or heard about it somewhere where the world's richest people are doing things they love to do. Logically speaking, how can anyone excel if they are not having fun in doing the things they are doing? No wonder 90% of the market participants are losing money. Many came with the mindset to make money.... alas they forgotten that they should be focusing on the process of making the money. Once you get the process right, money is the reward. Money is the result of your analysis. Michael Jordan knows he needs to shoot basket inorder to win championships... he trained hard. But what are we doing? We are dreaming about the big wins...but infact we should be focussing on the analysis. If we are correct, the money will follow. This brings to me a point on when to Hoot Tua Tua (Trading agressively)...
To Hoot tua tua, the opportunities doesn't come everyday.. i only hoot tua tua when i see obvious T.A signs and major confluences. Just like recently, i was preparing to hoot tua tua because many signs are pointing to the market crashing off a head and shoulder formation. When we rebound off a fake breakout, my rule is not to hoot. Truth be told, i would have hooted if Dow that night crashed.
As i peered through the charts over the weekend, i noticed many stocks has MacD Bullish Crossovers. Many of which are above the zero reference line which in my opinion is sign of upward trend. Earnings from the US once again top estimates. Giving strong reasons why the market should be heading north. Not wanting to miss the train, i load up on a long position. If I am right about the markets breaking new highs, i should make money off it. However, because of the big rebound last week, my risk/reward mgmt only allows me a small position which i am looking forward to add if the upward trend continues. Once the breakout happens, i will be watching for light volume retracement. OTherwise flag formation will be good as well. This is where market is looking to shake out weak holders.
If you look at the STI weekly chart, a beautiful bullish crossover has occured. Usually within the next 5 weeks we should know if this is just a whipsaw.
A watchout for me is when the market experience high volume sell off at resistance accross the board. This is a sign i will never forget because it has so far saved me from losing my profits or unneccessary losses during the last bull market.
I will also be going for my in-camp training soon... hopefully they have internet at cookhouse... 21st century army right? keke
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.
