| Latest Forum Topics / Others |
 Post Reply
|
|
Lost $8000 this month !
|
|
|
elfinchilde
Elite |
23-Nov-2007 11:54
|
|
x 1
x 0 Alert Admin |
haha, cashiertan, i believe he's feeling bad enough already lah...the market will teach its own lessons. if one doesn't learn, no amt of nagging by bystanders will help. Good pt abt trading too large for one's risk tho. ihatcoy, am impressed by your trading system! :) jason, just to share some details on how i play warrants: rem in first place, i put in only what i'm TOTALLY willing to write off. So say, i'm willing to put only 2k into a warrant, this is how i'd play it: at warr = 0.005, strike to enter 200 lots (ie, half of 2k). cost = 1k. if warr dips to 0.001, i'll enter only half the amt, since you get more anyway: ie, $500 worth: for which you get 500 lots. Hence total warr count = 700 lots. For cost of 1.5k (excl brokerage). So an estimated rise to 0.05 will give returns of 33.5k. Hence the risk/reward ratio is 22.3x. Incl brokerage will be abt 20x. For a cost of only 1.5k, therefore, worthwhile to take the chance. (Note: the count of 0.05 has to be carefully counted based on technicals, not feelings--which is where i say you MUST understand your underlying instrument well.) One more thing abt warrants: make sure the volume traded is large enough to absorb all your lots at one shot, preferably. No pt buying a cheap warrant that you can't sell cos there's no buyers. So at times, i'll pick a warrant that gives lesser profits but easier to sell, over a warrant that can give potentially more, but which you might get stuck with. When these babies fall, they really fall fast. |
| Useful To Me Not Useful To Me | |
|
cashiertan
Elite |
23-Nov-2007 11:44
|
|
x 0
x 0 Alert Admin |
also when u overtrade ur position. you lose ur emotion. fear comes in. thus to know your amount which u are comfortable with will be a guage of how much u should enter next time. let save if u are ok in losing max 50k. than u can adjust ur entry size so as u wont lose more than 50k i think jason's 500 lots entry was too large for him and fear comes in. |
| Useful To Me Not Useful To Me | |
|
|
|
|
cashiertan
Elite |
23-Nov-2007 11:37
|
|
x 0
x 0 Alert Admin |
jason doing is pure speculation and fighting w/o a proper plan thats why u panic when the thing turns against u. nothing to say accept to brush up your trading skill in TA and always plan ur exit before entering the trade. |
| Useful To Me Not Useful To Me | |
|
cashiertan
Elite |
23-Nov-2007 11:35
|
|
x 0
x 0 Alert Admin |
poems pro trader is good as in you can set ur buy and sell price in advance which u can be freed to do your stuff, example, i can place my buy or sell order at 0.90. it will trigger a buy at 0.9, also it can do a trigger to sell too. good to have as in you can just place your order and leave to work or you can just set your stop lost. it will just sell as you are away and notice you when your orders are done. it is free to try for poems users for 1 mth. go try |
| Useful To Me Not Useful To Me | |
|
ihatcoy
Senior |
23-Nov-2007 10:26
|
|
x 0
x 0 Alert Admin |
Hi Jason, I would like to share one of my trading system last time. However, nowadays, i do not trade at all due to my work commitment. No time to monitor live. Here goes, hope it helps:- Eg. Counter XXX: Potential Entry: @ 0.140 <<< Key in Calculated Cut loss: @ 0.125 <<< Key in / share tolerance loss: 0.015 (Entry-cut loss) <<< Calculated Per trade limit: (e.g.mine is 1.5% loss of Trading account size)<< Key in E.g. for S$55,000, that would be 1.5% of 55,000 - comm's /trade = 825-60 = S$765 <<< Calculated No. of purchase lots: Maxloss/tolerance loss = 765/0.015 = approx. 51,000 shares. <<< Calculated. Time holding duration: ~ 1 week (depends on personal) <<Key in Reason For buy : Many reasons etc; e.g. make $ << Key in 1st technical objective: How much, Eg. S$0.18 << Key in When 1) Time holding duration expires or 2) 1st technical objective met; or 3) Cut loss triggered, whichever earlier, just sell off and repeats. *Hope it helps, and apologise if find that it wastes thread bandwidth. |
| Useful To Me Not Useful To Me | |
|
|
|
|
Manikamaniko.
Master |
23-Nov-2007 09:19
|
|
x 0
x 0 Alert Admin |
Dear Jason... :) From your post, it seem to me you have not yet mastered the defensive art of money management. The importance of this aspect of trading is a must to learn, otherwise you can lose big money in future. This area is also well-covered in the package "Stock Market Genie". This is in addition to the other valuable tips and information you can find in the excellent package....  |
| Useful To Me Not Useful To Me | |
|
Blastoff
Elite |
23-Nov-2007 09:15
|
|
x 0
x 0 Alert Admin |
Well said. Singaporegal - Lost Opportunities better than Lost Money. |
| Useful To Me Not Useful To Me | |
|
singaporegal
Supreme |
23-Nov-2007 09:11
Yells: "Female TA nut" |
|
x 0
x 0 Alert Admin |
It is one of my strong beliefs that Lost Opportunities are always better than Lost Money. I believe that the trading limits do serve a purpose and they are there to protect you. Of course, the broker is also protected. But without these limits, I am sure the bankruptcy rate among newbies will be really high. |
| Useful To Me Not Useful To Me | |
|
|
|
|
jasonfaxingliu
Senior |
23-Nov-2007 08:32
|
|
x 0
x 0 Alert Admin |
I am a trader with Poems. The problem for me is there is set limit in buy or sell. So, when limit ends, I'll have to see opportunity slips and trouble stuck. From pass 4 months daily active 8 hours trading, I learn how those BBs and big players set up strategies. They need almost a no limit tools to play the market. How can I get such a tool? and which security house can afford you to do this? I bought 500 lots of UOB warrant and when it fell, I pick up another 500 thinking to sell the earlier 500 when it recover a little higher than my 2nd 500 lots (so to cash in some paper profit). But it didn't and fell all the way. This is killing and with some negative comments from friends and market responses, in panic, I sold off all my other contral (not due) that deepen my losses. If I should have trade carefully to exit my earlier 500 lots and the later 500 lots is just time enough for UOB rebound and all other stock should be at a profit, I should have make $ 50K than a totally lost of $ 130K (when I sold it all on Monday after Oct 19 at the lowest point). It is all my mistakes and I want to learn from you guys and appreciate someone can share with me the tools to pay with strategies. |
| Useful To Me Not Useful To Me | |
|
Manikamaniko.
Master |
23-Nov-2007 08:29
|
|
x 0
x 0 Alert Admin |
Cashier... :) What do yo uthink of POEM's Pro Trader?
|
| Useful To Me Not Useful To Me | |
|
cashiertan
Elite |
23-Nov-2007 03:18
|
|
x 0
x 0 Alert Admin |
if u really gonna trade real time, i would recommend u get omnitrader pro for real time. this system more ex than metastock but the stuff inside is power and more than others. their live signal also looks good. i dun have it but my fren uses one at his home. makes his trading so much easier. really got to try to believe |
| Useful To Me Not Useful To Me | |
|
cashiertan
Elite |
23-Nov-2007 03:15
|
|
x 0
x 0 Alert Admin |
i tried full time trading, not that fun as eod. full time trading only suit certain strategy which needs u to monitor the stocks for 8 hours a day. would rather trade eod. as in scan charts for signals and enter the next day morning on real time. buy and hold or short and hold. returns are not much better than for real time compared to eod where i saved so much time. i knew someone who trade EOD for living. yes. He is a multimillionaire EOD trader. enjoy his life siah. but he trade US options via EOD. spend just 30mins to 1 hour a day. if u want to trade full time, i would rather u trade HSI and its stocks. more returns and volatility. plus more choice. market is bigger thus u see lesser manipulated stocks. trading hour is 2 less than sti. yes u trade only from 10am to 4pm |
| Useful To Me Not Useful To Me | |
|
|
|
|
cashiertan
Elite |
23-Nov-2007 02:54
|
|
x 0
x 0 Alert Admin |
i using SI jade extra for real time monitoring. not as good charting but still ok. cost ard $30+ per mth for real time. for eod, u need to google for history data for metastocks. mine is from a "private" source, so cant disclosed the detail. lol |
| Useful To Me Not Useful To Me | |
|
Manikamaniko.
Master |
23-Nov-2007 01:25
|
|
x 0
x 0 Alert Admin |
Cashier... :) |
| Useful To Me Not Useful To Me | |
|
cashiertan
Elite |
23-Nov-2007 00:55
|
|
x 0
x 0 Alert Admin |
for those who have problem in controlling their selling and pulling the trigger, simply get poemspro from poems as they have stop limt, where after u enter a trade, u set the px u will exit. and dun change that exit px! also it can also allow u to buy at a px u will enter until it touches it in the future. |
| Useful To Me Not Useful To Me | |
|
cashiertan
Elite |
23-Nov-2007 00:49
|
|
x 0
x 0 Alert Admin |
cash and others, the 1st step to trading profitably is to limit ur lost per trade to a fixed amt of %. for me i like 4% or 4 bids or time stop out. some use 10% some 7% some 5%. for me i choose 4% as my level skill is slightly better to enter at better px. in fact 5% is the max i cut. therefore, whenever ur trade turn 5% against u. just cut. u can enter again another time. even if higher px than u cut is good enough if it can move up up up. not really applicable to warrent as warrent just a few bids areadi +/- 5%. for warrents u need to trade more sophiticate methods which i can highlight enough. therefore warrents is no no for newbies unless u got inside info. |
| Useful To Me Not Useful To Me | |
|
cashiertan
Elite |
23-Nov-2007 00:36
|
|
x 0
x 0 Alert Admin |
and yeah i still make more number of losing trade than winning. haha but i still make more $!. |
| Useful To Me Not Useful To Me | |
|
cashiertan
Elite |
23-Nov-2007 00:32
|
|
x 0
x 0 Alert Admin |
someone just pass me the metastock s/w for free. he/she gave up after trying trading for a few months. lol. yah even with metastocks u can lose $. |
| Useful To Me Not Useful To Me | |
|
cashiertan
Elite |
23-Nov-2007 00:30
|
|
x 0
x 0 Alert Admin |
I got version 9 pro. the latest is 10. i also got other software. each got its own good point. find metastock and omnitrader better for non technical ppl. i using EOD data. more than sufficient for trading stocks since future is not my cup of tea yet. Forex have free charting software which are good enough so no need metastock for FX. Amitrader is very good but not recommended unless u know programing as u it is like linux. dun mistake me, i am not real time trader, the reason why i am here often this few weeks is becoz i m not working. now studying. lol btw, i dun use metastock for eod data, i use other service provider who are much cheaper. |
| Useful To Me Not Useful To Me | |
|
Manikamaniko.
Master |
23-Nov-2007 00:13
|
|
x 0
x 0 Alert Admin |
Cashier... :) |
| Useful To Me Not Useful To Me | |
