The rights issue by DBS inflicted damage to the morale. The worse part is i just blew away my position because of the sudden trading halt. Remember i was beoing DBS at $9... my sell stop has been there getting ready for such a day... mana zai, shortly after lunch, i was told DBS issue rights and the stock price has plunged. I logged on and thought this time tua ho say... i remembered telling myself not to be greedy and must cover back because for CFD, i ain't sure about the implication from a rights issue. HOWEVER!!! by the time i logged on, my buy stop was triggered and the system had taken my loss on DBS when it trades higher after the gap down. What a big disppointment otherwise it was a great day for me!
My shorts swing into profits with HSI leading the way with a 500 points tank. When i saw capitaland tanks, i think i am more than right about the direction of the market and procastinated on adding to my shorts. I hold back. This is a short trading week and volume is expected to be light and thus the market can swing either way wildly. I already have 3 short positions and i don't feel safe adding to my shorts.
Midas came out from the screening result. and my sentiment screen tells me the trading volume today is suspiciously light. Not a time to be too bearish.... but still i would like to know why HSI was gunned down maliciously.... although not that i am complaining.. 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.
Showing posts with label sgx. Show all posts
Showing posts with label sgx. Show all posts
Monday, December 22, 2008
Sunday, December 21, 2008
Automobile's rescue plan priced in
Alot of us may have forgotten that after the senate rejected the bailout for the big 3, bush already came out and said he will do his best to save them. The market first tanked after news leaked out about how the big 3 may run out of cash. Then bush's assurance came and that saved the bulls. I know because i was short the market... maddening!! hahaha Hence last Friday's rescue plan didn't send the market into a rally.... i could understand why. Just look at the news, isn't it easy? When market goes up, it will give bullish reasons, when it comes down, it will say market again focuses on economic woes. As a friend of mine put it.... financial world is actually an illusion, you choose to see what you want to see.... hahaha
At closing on Friday, i added Yanlord short after I spotted the shooting star on the daily chart as well as resisted by the 100-day MA. My opinion of a weak closing was right and thus i follow through with my plan. Anyway a screen by XPertTrader revealed that properties are hitting into resistance. Hence i have a total of 3 short positions in the market right now.... StraitsAsia, Yanlord & HSI. My wish for Monday morning is that Nikkei focuses on the weak closing and the rally which fizzled out on Dow.
A friend checked with me almost daily on "have i covered my straitsasia". Maybe he is reading this entry. keke I explained.... let ur profits ride and cut ur losses fast. This process has been internalised. That's why you see i rather cut my capitaland rather fast and now since i am in profits, i ride. My rationale is, if i am right about the direction, StraitsAsia will continue to go lower which means my profit will swell. If i am wrong, i earn less. If i just take my profits just because it has went to my favour today then how to grow money? Alot of times, i have seen people trading by the day... buy today, tomolo up just sell... then come down a little, buy... then stuck... then avg down... then continue to get stuck... ahhh.... if this is familiar to u... then it's time u wake up.. keke Focus on DIRECTION rather than daily fluctuations. Intra-day is even worse.... countless of people keep asking me about live data... i found it wierd... if these people has been making consistently good money from end of day data... why don't they imrpove on their position sizing and money mgmt instead? Why do they want to take more risk by trading intra-day? It's worse if they believe money can only be made in intra-day charts than daily charts. Alexander Elder in his book wrote about it before.... those who can't manage daily chart will be slaughtered by the intra-day charts.
Capitaland
6pm now... i am counting down to a brand new week! Huat arh! So far so good... ever since i started to work hard... pocket also grew... keke Haiyo.... why i so lazy for the past few months??? Maybe can tan more! keke Actually blogging not bad ma... can share my trading experience and try to help as many beginners as possible...then at the same time, by writting, i am actually re-inforcing my thoughts. It is easy to think inside the head, but if you write it down, it's a completely different feeling. Try it! such is trading... there will bound to be losses... there will be wins.. now i'm in high spirit... haha last few weeks.. when i keep losing... so frustratings... Welcome to the world of trading!
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.
At closing on Friday, i added Yanlord short after I spotted the shooting star on the daily chart as well as resisted by the 100-day MA. My opinion of a weak closing was right and thus i follow through with my plan. Anyway a screen by XPertTrader revealed that properties are hitting into resistance. Hence i have a total of 3 short positions in the market right now.... StraitsAsia, Yanlord & HSI. My wish for Monday morning is that Nikkei focuses on the weak closing and the rally which fizzled out on Dow.
A friend checked with me almost daily on "have i covered my straitsasia". Maybe he is reading this entry. keke I explained.... let ur profits ride and cut ur losses fast. This process has been internalised. That's why you see i rather cut my capitaland rather fast and now since i am in profits, i ride. My rationale is, if i am right about the direction, StraitsAsia will continue to go lower which means my profit will swell. If i am wrong, i earn less. If i just take my profits just because it has went to my favour today then how to grow money? Alot of times, i have seen people trading by the day... buy today, tomolo up just sell... then come down a little, buy... then stuck... then avg down... then continue to get stuck... ahhh.... if this is familiar to u... then it's time u wake up.. keke Focus on DIRECTION rather than daily fluctuations. Intra-day is even worse.... countless of people keep asking me about live data... i found it wierd... if these people has been making consistently good money from end of day data... why don't they imrpove on their position sizing and money mgmt instead? Why do they want to take more risk by trading intra-day? It's worse if they believe money can only be made in intra-day charts than daily charts. Alexander Elder in his book wrote about it before.... those who can't manage daily chart will be slaughtered by the intra-day charts.
Capitaland
6pm now... i am counting down to a brand new week! Huat arh! So far so good... ever since i started to work hard... pocket also grew... keke Haiyo.... why i so lazy for the past few months??? Maybe can tan more! keke Actually blogging not bad ma... can share my trading experience and try to help as many beginners as possible...then at the same time, by writting, i am actually re-inforcing my thoughts. It is easy to think inside the head, but if you write it down, it's a completely different feeling. Try it! such is trading... there will bound to be losses... there will be wins.. now i'm in high spirit... haha last few weeks.. when i keep losing... so frustratings... Welcome to the world of trading!
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.
Sunday, December 14, 2008
Dow refuses to head lower
Much to my dismay, Dow had refused to head lower. I had to cover my Dow short before i went to bed when govt came out to assure investors that they will find another alternative to save the auto mobile industry. Actually, it is better they save it as the implication may be worsed than lehmann. What about Madoff? Simply amazing.... I wonder how many rich people will be affected. If there are any implications to the economy? The econs numbers last week was as i anticipated... BAD. Hence i shorted... but once again, the resilience of the bulls saved the day as we close higher from lower. In theory, this is a text book market bottom where market ignores the bad news. But how far can this rally runs? Actually i give it 3-month shelf life or the 50-day MA or 100-day MA whichever comes first. After the third month i will turn cautious. Otherwise, i will be eyeing those resistance levels. Fed's meeting on Tuesday may be why the market is holding up. Currencies are breaking recent highs and surely on an uptrend. hmm... what's the impact of a rate cut? How will market take it? Given that we refuse to head lower. Chances are Fed will once again cut.. inorder for market to crash, i think a rate hike or unchanged or one of the car companies collapse will rock the market.
The picture on the left is a snap-shot from the new ChartNexus Training Center....conducive for those weekend classes... i think the feng shui is good, as ever since we moved, we had 3 months of sell-out courses. This new training center will also be the place where our traders club members meet. By making this investment in training facilities, all graduates from the program will have a place to gather. Like i said, i want to help as many people as i can. Either through the blog, ChartNexus forum or directly at those traders club meeting. I want to show you how easy it is to be done by sharing my thoughts and my experience.
I am also planning to meet all the old graduates way back from 2006 to 2007 Dec. There are approximately 500 of you out there whom i may have disconnected. Rest assured i forget you not... the latest course rules will be shared in a seminar where i will personally teach you on the direct applications. Just wait for my email invitation.
The favourite question i was asked recently was, is this the market bottom? Is it safe to buy now. My answer is, i don't know. How would anyone know? Even Alan greenspan said he didn't see the current financial meltdown coming...Bufett never buy at the exact bottom. And me? I'm just deciper.. your friendly neighbourhood blogger. My method is simple and consistently i have been practising it. I seek inspiration from Jesse Livermore and of course a friend whom i looked upon as mentor. Remember what did Livermore said? Ask not where the market is heading... but ask yourself, what will you do when the market gets there. Those following my blog for the longest time should find this phrase familiar... i keep talking about this since 2006. What it meant was, you must form an opinion about the market, like if A happens, B should happen, and when B happens, i hoot... then when C happens, i cut my loss or if D happens i ride my profits or if E happens I take my profits and look elsewhere. Those looking for a sure win method aka the holy grail.. you will be massively disappointed! As those of us who make money from the market knows that losses are part and parcel of the game and this is how the game is played. Lose small and win BIG! Am i worried about my Short on StraitsAsia? Hell no! If that position turn against me, it only means one thing to me, the market is going to head higher... otherwise, if market turns down from here, i will add more shorts... if market break the 52-week low, hailoya... i will hoot tua tua..
From my strategies screening, i have got 3 sell signals based on the trend-trading strategies.... guess what? I won't take the sell signals! Simply because the primary criteria is not met... and what is it?? THIS IS NOT A TRENDING MARKET! Simple! From ADX and the price range, we are in a range trade, and using a trend trading strategy now is like throwing money into the drain. In the course, we teach you when to use what strategy and this is very important!
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That is why you see that i am blogging so much and sharing my thoughts on trading... On the left is how my late night "taxi-driving" looks like.. I hope they produce monitors that are at least 1 meter in length in the future... then spare me looking at 3 screens.. Why do i call it taxi driving? Back in the late 90s where many professionals got retrenched and many turned to taxi driving to make a living... some hold two jobs and driving taxi was a part time.... i was trading the new york market which is easily past 12 mdnight hence i termed it taxi driving... on good nights, can close shop as early as 1am.. bad nights... 3am....
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.
The picture on the left is a snap-shot from the new ChartNexus Training Center....conducive for those weekend classes... i think the feng shui is good, as ever since we moved, we had 3 months of sell-out courses. This new training center will also be the place where our traders club members meet. By making this investment in training facilities, all graduates from the program will have a place to gather. Like i said, i want to help as many people as i can. Either through the blog, ChartNexus forum or directly at those traders club meeting. I want to show you how easy it is to be done by sharing my thoughts and my experience.
I am also planning to meet all the old graduates way back from 2006 to 2007 Dec. There are approximately 500 of you out there whom i may have disconnected. Rest assured i forget you not... the latest course rules will be shared in a seminar where i will personally teach you on the direct applications. Just wait for my email invitation.The favourite question i was asked recently was, is this the market bottom? Is it safe to buy now. My answer is, i don't know. How would anyone know? Even Alan greenspan said he didn't see the current financial meltdown coming...Bufett never buy at the exact bottom. And me? I'm just deciper.. your friendly neighbourhood blogger. My method is simple and consistently i have been practising it. I seek inspiration from Jesse Livermore and of course a friend whom i looked upon as mentor. Remember what did Livermore said? Ask not where the market is heading... but ask yourself, what will you do when the market gets there. Those following my blog for the longest time should find this phrase familiar... i keep talking about this since 2006. What it meant was, you must form an opinion about the market, like if A happens, B should happen, and when B happens, i hoot... then when C happens, i cut my loss or if D happens i ride my profits or if E happens I take my profits and look elsewhere. Those looking for a sure win method aka the holy grail.. you will be massively disappointed! As those of us who make money from the market knows that losses are part and parcel of the game and this is how the game is played. Lose small and win BIG! Am i worried about my Short on StraitsAsia? Hell no! If that position turn against me, it only means one thing to me, the market is going to head higher... otherwise, if market turns down from here, i will add more shorts... if market break the 52-week low, hailoya... i will hoot tua tua..
From my strategies screening, i have got 3 sell signals based on the trend-trading strategies.... guess what? I won't take the sell signals! Simply because the primary criteria is not met... and what is it?? THIS IS NOT A TRENDING MARKET! Simple! From ADX and the price range, we are in a range trade, and using a trend trading strategy now is like throwing money into the drain. In the course, we teach you when to use what strategy and this is very important!
.jpg)
Saw the sticks? They were actually broken arrows. This is what they call breaking the arrow using the throat...or rather the soft spot under-neath it. This was taken at the seminar i went to before i went for my holidays. A paradigm shift. I knew i need to sought inspiration... i tried to tell myself to aim for big money in trading... ahh... that should motivate me... but it only last a few weeks...then i found what i want... i want to inspire people! Each year, i will continue to learn from the gurus and experts... as the saying goes, the day you stop growing, u start dying.
That is why you see that i am blogging so much and sharing my thoughts on trading... On the left is how my late night "taxi-driving" looks like.. I hope they produce monitors that are at least 1 meter in length in the future... then spare me looking at 3 screens.. Why do i call it taxi driving? Back in the late 90s where many professionals got retrenched and many turned to taxi driving to make a living... some hold two jobs and driving taxi was a part time.... i was trading the new york market which is easily past 12 mdnight hence i termed it taxi driving... on good nights, can close shop as early as 1am.. bad nights... 3am....
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.
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