Latest Forum Topics / Others | Post Reply |
NO CONTRA ZONE
|
|||||
muifan
Master |
25-Oct-2013 00:38
Yells: "Take the leap of faith dont regret 20 years later!" |
||||
x 0
x 1 Alert Admin |
part 2: a basic intro of my sifu. He only knows simple TA which he tell me is enough. No need to know shooting star, 3 black crows all the formation , if you want to know, its for your own enlightenment and knowledge. Every trade he does, he make sure he has the power to hold WITHOUT affecting his daily life. He is a firm believer of once he buys his share, he SELDOM or NEVER SELL them unless necessary. Now i think of Warren Buffet, same traits. Maybe   WB is too far from us and we cannot imagine us to be like him..a very near one i can recall is our SJ Brother DIVIDEND WARRIOR. Go take a look at his portfolio. I believe I saw it somewhere. EVERYMONTH got $800-900 CD...not shiok meh?  so i ask my sifu: Where and how do I start?  First, a rough guide he share with me. Make sure you have at least $50,000 SPARE cash if you really want to stand a chance to survive in the market. Only take out $25k out to take position and the other 25k is BACKUP. Well I was super not prudent then, because I am opposite, I have $5k and dabble with $50k contra. I am really " UMMM ZAI SEE" (DONNO WHHAT IS DIE). If you do not have $50k cash, be patience and work hard and save that amount before kan jiong to jump into market. Think, even big bosses with a few kopi tiam also lose until have to sell kopi tiam, WHAT ARE WE?   A few good simple advice for lazy stock players :   1) buy on bad news sell on good news -  most of the time, we do the opposite EVEN THOUGH WE KNEW THIS, why? because we dont have holding power. Think again, how many times the counter chiong we are last to bite the bone. When you have holding power, you will DARE to buy on bad news, and hold it out. EVEN if the counter continue to tank, your probablity to win in the long run is high, because you will always buy on low and sell on high. 2) counters chiong with FA news VS counter chiong with NO FA news: the second one is the one you should fear most but most of the time we do the opposite instead. We chase high EVEN THOUGH WE KNEW is wrong trying to GUESS there might be UPAND COMING NEWS. This might be true but most of the time insider news wont reach us. Maybe 1 in 10 punt you tio, the other 9 punt you cry. Market operators aka BB aka FM WILL TRY THEIR BEST TO NOT LET YOU KNOW they accumulate. Usually when counters in top 10 volumes with very OBVIOUS CHIONG , think , if you are any BB, so good make the chiong let you see, let you join in?   the only position you have higher chance of winning is SHORT IN STRENGTH. CHASING HIGH is something we always fall into the trap...... will share more, now go shower...but I hope it is useful , although most of the pointers we sometimes deep inside already know, but we just choose to not practice, I dont know why. Now got someone enforce on me, I find it useful to share it here, if your brokers really care about you, they long ago adviced you not to contra. They only keen to earn you $ so lets stop this shit together....and be a winner from the market...        |
||||
Useful To Me Not Useful To Me | |||||
Luna69
Senior |
25-Oct-2013 00:32
|
||||
x 0
x 0 Alert Admin |
Can I also know view on this? Even if we can do away w contra n pick it up instead of cutting it, it keep dropping n become a dinosaur in the inventory, the free up capital become all tie up because thinking can pick up nvm paper loss, how do we determine if it should b a cut instead of picking up ? By picking it up, we also still do a set loss to cut right? Do we then review again if it fundamentally sound but mayb no more int from bb or when it occur to b just a pump n dump?
|
||||
Useful To Me Not Useful To Me | |||||
|
|||||
muifan
Master |
25-Oct-2013 00:11
Yells: "Take the leap of faith dont regret 20 years later!" |
||||
x 0
x 0 Alert Admin |
bro winson,  good , lets start from 23/10/2013 tell ourselves dont sink further down the hole... wa the number sibeh swee...can buy some 4d  
|
||||
Useful To Me Not Useful To Me | |||||
muifan
Master |
25-Oct-2013 00:09
Yells: "Take the leap of faith dont regret 20 years later!" |
||||
x 0
x 0 Alert Admin |
bro novice, follow me , make a change, you will be sibeh positive one. I am not asking you to STOP investing or trading, I am just advicing people here lets face the fact and reality, because I see my trading capital shrunk ever since i started contra. First overcome yourself, i believe you still have trading capital left thats why you still want to fight...gamblers only wake up when they are rock bottom, in heavy debts, but why must wait till that day? Make a change now why it is still not too late :):) 
|
||||
Useful To Me Not Useful To Me | |||||
duofu1285
Member |
25-Oct-2013 00:08
|
||||
x 0
x 0 Alert Admin |
U at least got bullets to fight. Have u play until u owe ur broker?
|
||||
Useful To Me Not Useful To Me | |||||
|
|||||
iluvboost
Master |
24-Oct-2013 23:23
|
||||
x 0
x 0 Alert Admin |
Agree with what u say. the commission, sgx fees can add up. but im nt totally against contra. i find it is best used in a situation where conditions are all favourable and the chances are 95% that its only going up. such situations are lesser in range bound markets. but during a crazy bull, it works well. example of how i used it before is i holding some stock on margin for 2-3wks at accumulation period, then on a favourable bull penny season, on the day, i see some signs its gonna breakout, i will add lots on contra when u see the signs on MD n buying behaviour....then it make $$$ on both sides...contra+margin.. feeling is shiok. done it on oceansky, tat hong, indoagri, to name a few. however i tried contra on certain stks like ossia, rex, ap, it didnt work out well. those stock to me is unpredictable....  
|
||||
Useful To Me Not Useful To Me | |||||
hohokit
Veteran |
24-Oct-2013 23:17
|
||||
x 0
x 0 Alert Admin |
Easy solution try to get yourself into a discipline environment.
|
||||
Useful To Me Not Useful To Me | |||||
iluvboost
Master |
24-Oct-2013 23:05
|
||||
x 0
x 0 Alert Admin |
Hi Novice, ask yr broker to lower your limit to very very little...play very small, if u r still addicted and MUST play.  or quit totally if the realised P/L is not working out after a couple of mths..
|
||||
Useful To Me Not Useful To Me | |||||
|
|||||
novice_trader
Elite |
24-Oct-2013 22:54
|
||||
x 0
x 0 Alert Admin |
Fellow bros and sis, I can't quit... how??? I'm a sick man.... I tired calling the gambling hotline but hang up after that.... I'm keep wanting to cover losses but become more losses... Make $1k lost $2k... Drowning... Soon I believe... | ||||
Useful To Me Not Useful To Me | |||||
Luna69
Senior |
24-Oct-2013 22:15
|
||||
x 0
x 0 Alert Admin |
Thanks bro muifan n jarolLo, very wise words for all to practice some real discipline in trading beside doing dyodd... Huat ar !!
|
||||
Useful To Me Not Useful To Me | |||||
k2kingkong
Member |
24-Oct-2013 14:27
|
||||
x 0
x 0 Alert Admin |
I have suspicion that broking firms are preying on their margin account clients too.   |
||||
Useful To Me Not Useful To Me | |||||
h0ly0wl
Senior |
24-Oct-2013 14:25
Yells: "Huat Big Big!" |
||||
x 0
x 0 Alert Admin |
Yup agreed. Quitted contra too. | ||||
Useful To Me Not Useful To Me | |||||
|
|||||
iluvboost
Master |
24-Oct-2013 14:23
|
||||
x 0
x 0 Alert Admin |
bro, agree with u... for myself i diversify a bit, put some in Dividend stocks, some blue chip. then some consistent pennies/midcaps for rebound based on TA. then a little bit on risky speculated stock if got high chance..
|
||||
Useful To Me Not Useful To Me | |||||
sk6666
Veteran |
24-Oct-2013 14:15
|
||||
x 0
x 0 Alert Admin |
Together with me, my3 cousins n uncle reading your thread. Thanks for sharing with us. | ||||
Useful To Me Not Useful To Me | |||||
Winson
Senior |
24-Oct-2013 14:12
|
||||
x 0
x 0 Alert Admin |
Bro me too, like to join you, tks for sharing.
|
||||
Useful To Me Not Useful To Me | |||||
muifan
Master |
24-Oct-2013 14:10
Yells: "Take the leap of faith dont regret 20 years later!" |
||||
x 0
x 0 Alert Admin |
Yes bro jaro
I am telling myself I wan to be as successfull as my Sifu. And I am telling myself to make a change today. My Sifu is happily retired and holding a portfolio that give him 6figure CDs every year. I don't know how many bros or sis wan to make a change before it is too late. I will share more on my 2nd part conversation with him when I get home today.
|
||||
Useful To Me Not Useful To Me | |||||
JarolLo
Veteran |
24-Oct-2013 13:31
|
||||
x 0
x 0 Alert Admin |
Bro Muifan,  I totally agreed you. Ask ourselves,  how often  we gain and loss  by playing contra? I would say  most of us losses more than gain.  Human psychology is, when gain, take profit first, cos you won't know the next moment will the market continue favour to you or not. Hardly see people making 10, 20 or more pips unless he is really very super, like Bro SC, Ace, LJ and JS. When loss, wait and see, continue to tahan until become charcoal. But by the time T +  5 (some even T + 3 only), bo bian have to  cut loss and let go. Plus the feeling of greed, or fear.....situation even loss. Easily loss our cool mind to analyse properly. The moment we entered into the market, we bound to loss on the split and brokage. Have to wait till the price move 1 pip to cover the split, another 1 pip for the brokage, then  only begin to  breakeven. How  lucky can one continue to  gain more? When market move opposite even by 1 pip, we will loss  that pip, plus the 1 pip split and  brokage. So this is definitely not a fair  level game for retailers. Moreover, who are we  fighting against? The BBs and insiders, who are much more resouceful with bullets and insider news than us.   This is worse than casino. So, conclusion is, no contra. Buy with your holding power. Take Noble as an example. Early of this year was at 1.2 to most 1.26, down all the way to 0.885 (if I remember correctly), now at 1.04. If somebody so unlucky buy at the highest, can average at 1, 0.90 or whatever, and can expect at least breakeven now. This is what I'm doing for my EMS now. Secondly, reserve your bullets. Don't greedy use up all at once thought you can make a one time big gain. Keep big portion in your pocket prepare to average when market sharp down.
|
||||
Useful To Me Not Useful To Me | |||||
Hulumas
Supreme |
24-Oct-2013 12:53
Yells: "INVEST but not TRADE please!" |
||||
x 0
x 0 Alert Admin |
十 分 赞 成 !
|
||||
Useful To Me Not Useful To Me | |||||
GorgeousOng
Elite |
24-Oct-2013 12:24
Yells: "Hehehaha...enjoy life n live to the fullest..." |
||||
x 0
x 0 Alert Admin |
👏 👏 👏
|
||||
Useful To Me Not Useful To Me | |||||
muifan
Master |
24-Oct-2013 12:19
Yells: "Take the leap of faith dont regret 20 years later!" |
||||
x 1
x 0 Alert Admin |
Hi all,
Today I ask my successfull sifu how to win from the market? He ans me: no contra. Many already know of this ancient rule, but why we still hand itchy and dabble with contra? I am one of them too. My Sifu continue to say... Retailers stand almost no chance in the market in the long run, we as retailers only have 2 wild card to win: 1) another ancient rule - holding power. He says the professionals hates retailers with holding power as they cannot do anything to you, usually the play your fear and greed. That's why most of the time you find urself banging the wall 2) one of the advantage we have is no position. Take advantage of that. Professionals have to have position almost everyday to pay you interest on your Cpf,insurance, fixed d, mutual funds etc So lets all start from here, tell urself no more contra, every trade be prepare to pick...even small 10lots also song because they cannot do anything to u, be patience ... He ended with "The depth of the foundation of the wall determines the height and strength of the wall. |
||||
Useful To Me Not Useful To Me |