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chartreader journal
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chartreader
Senior |
06-Sep-2012 09:34
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There is minor support for STI around 2975 and we could expect some reactions when it touched this level. I believe though that this support is weak and expect only a weak short lived rebound from this level before STI heads lower. Strategy: wait for reactions around 2975 and get ready for taking short position. |
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tedsokny
Senior |
06-Sep-2012 08:55
Yells: "Have a Angkor Beer!" |
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bro, u got a gd friend willing to guide...just to share - i hv a fren who was an ex colleague...20 yrs ago he drove up to genting to analyze at the casino the probabilities of winning at every games the casino offer. He came back telling me hard chance, for entertainment ok. Then he became a remisier for 2yrs, he quit saying $ in very slow...alot of analysis etc. Then he went on to be a bookie...that is where he became multi millionaire - he told me just punt against gamblers' bet - chances winning much higher, eg in WC98, Brazil away gv ball to france, and WC2002, France's 1st match gv ball to Senegal...he ate the balls...in short - its the mindset and emotions controlling...betting is never for the soft hearted...
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chartreader
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05-Sep-2012 21:35
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Long Term Portfolio - 31 August 2012 http://chartreader88.blogspot.sg/2012/09/long-term-portfolio-31-august-2012.html |
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chartreader
Senior |
05-Sep-2012 20:32
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Fighting the " Evil" Within http://chartreader88.blogspot.sg/2012/09/speculative-portfolio-fighting-evil.html |
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chartreader
Senior |
05-Sep-2012 20:11
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No worries Bro... A kind hearted soul taught me how to trade stocks a few years back during the last bull market. And No - he didn't ask me a single cent for what he taught me. He just wanted the others to avoid the pitfall he has gone through, and I'm one of them that benefit from his experience and sincere sharing. Now I'm sharing the pitfall I had to pay his kindness back.
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tedsokny
Senior |
05-Sep-2012 19:43
Yells: "Have a Angkor Beer!" |
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very true...u nt the only one...i was such n now stil learning...relax bro! " The bigger pitfall is in controlling the human nature and psychology, which is not something that can be learnt in a trading seminar. It's something that need a hard work and practice. " |
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chartreader
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05-Sep-2012 19:11
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Actually it's not about not trusting my own analysis. It's the urge to gamble and over confident after a series of winning streak that makes me careless and violate my own trading rule. I knew almost immediately I'd be screwed by Mr Market as soon as I put in the trade as I realized I didn't wait until all conditions I set as a trading rule to be met. As a matter of fact, I alerted a friend here yesterday itself to not follow me as I could already feel that I was at the wrong side. I guessed the slap and punishment from Mr Market has brought back the balance in me :-) After the painful episode during the last financial crisis, getting out of a wrong trade is much easier for me. I do not mean to boast, but I was well ahead by riding on winners like BioTreat, Sembawang KimTrans, Man Wah, etc with my own analysis during their rising period. Some of my winners were even taken private resulting in a significant profit. But I gave back all this profit and a significant chunk of my capital as I do not really like to cut loss. By the time I convinced myself to get out, the loss has been too painful to bear. This time due to decisiveness and the lesson from the painful episode, I manage to preserve my capital but really I feel like kicking my own head for causing a big dent on my profit :-). You won't believe me if I told you that the " evil" in me almost put in a long trade on Noble and Olam yesterday :-) ... with leverage some more. Luckily I didn't as I really try hard to restrain myself not to violate my own trading rule ... So I guest I'm half way there, but still need to work on the psychology a bit more to reach consistency. Actually I quite pity some naive people that thinks they can attend a trading seminar that cost a few thousand dollars for a few days, and comes out a winner The bigger pitfall is in controlling the human nature and psychology, which is not something that can be learnt in a trading seminar. It's something that need a hard work and practice.
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cashiertan
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05-Sep-2012 17:29
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that is the part you need to work on. if your analysis is there, trust it. if you are wrong, can buy again on retracement, be it up or down. | ||||||||
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chartreader
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05-Sep-2012 15:26
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Yup, as I said psychology and it's something I need to work on ... heart vs brain, gut feel vs analysis, urge to gamble vs a trade that is carefully plan ... There is a good video in youtube about trading.. In trading, there are 2 aspects: quantitative vs qualitative. Quantitative is something you can learn from books, training, etc. Qualitative can't be taught but something that has to be worked on e.g. how to handle losing streak, etc. People spend so much $$ for expensive training, but they only get the quantitative part, not the qualitative.
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cashiertan
Elite |
05-Sep-2012 15:01
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it is more of you going against your ownself, your own analysis. not abt being 1 wrong after winning streaks... | ||||||||
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chartreader
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05-Sep-2012 14:49
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Honestly speaking, being in the wrong side once in a while is not all negative. It will keep one's view balance from overly bullish or bearish. As for short, not wise to short now ... too late ... wait for the right time. |
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cashiertan
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05-Sep-2012 14:39
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thats why i am shocked of your entry to long after your negative postings which are valid to me. sti should go down for 1-3 weeks. to form the cup and handle formation. look to short now. only regret is CMZ didnt manage to short at 0.73 hence didnt get my orders done else happy go bank liao
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tedsokny
Senior |
05-Sep-2012 14:22
Yells: "Have a Angkor Beer!" |
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human nature not ez exercise self control...thats why i play ipad games, analyse soccer games for now...come in forum tcss...until markt sink than i value hunt...take a breather from pc...go starbucks for a cuppa :) |
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chartreader
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05-Sep-2012 14:08
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Lol, I have a habit of self destruction after a series of winning streak ... Need to work on my psychology |
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tedsokny
Senior |
05-Sep-2012 13:47
Yells: "Have a Angkor Beer!" |
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Bro Chartreader....patience...sgx seems slowly slowly retreat...if for longer term think Sept is the month for value hunting :)
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chartreader
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05-Sep-2012 13:31
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Bullish flag negated due to failure in the pattern
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chartreader
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05-Sep-2012 13:29
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Closed genting & yanlord ... cut loss triggered. | ||||||||
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tedsokny
Senior |
04-Sep-2012 13:54
Yells: "Have a Angkor Beer!" |
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ic...ok. me not into genting...all d best! |
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chartreader
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04-Sep-2012 13:53
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Btw Bro Ted, Genting " seems" to be forming bullish flag. No guarantee, but a possibility. | ||||||||
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chartreader
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04-Sep-2012 13:51
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Only for a swing bro (few days to few weeks max), not holding it for long term. I will get out as soon as I feel something is not right |
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