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Lost $8000 this month !
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cashiertan
Elite |
23-Nov-2007 00:06
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yah that metstock website, i go have it in my link too. go there to look for free metastock codes |
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jason6833
Member |
22-Nov-2007 23:55
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etla vested 465 20L sunmart 27 50L sinostar 80 20L unionmet 315 50L my paper might become toilet paper soon... |
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jason6833
Member |
22-Nov-2007 23:48
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from aug til nov made 10k cash but paper loss 20k aiyah me too in bad shape monday vested venture 12.6 today vested courage 0.385 and lian beng 0.67 |
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Manikamaniko.
Master |
22-Nov-2007 23:39
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To me, Metastock is the Ultimate tool !.... And this is The Ultimate Metastock Site... 
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cashiertan
Elite |
22-Nov-2007 23:32
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google them, esignal consider adv get metastock consider metastock pro tradestation is version 2000 omnitrader can get either real time or Pro version. for the money u paid for each software . ard usd $1k-2k+ each is worth the money. |
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cashcomstock
Member |
22-Nov-2007 23:10
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Hi Cashiertan, may i know where do get all those software that you mentioned. As for Manikaminiko, the ebook that you mentioned seems good. May consider buying as it is more relevant to day trader. Just that ebook don't have the hard copy and need to print out. Thanks for the recommendation. |
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cashiertan
Elite |
22-Nov-2007 22:07
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I like to suggest to get a good software for charting. Recommend esignal, metastock, tradestation or omnitrader. with this software. u can get them to scan each counter for the best system/strategy which works on the stocks also it allows u to go mechanical, in the sense you trade as the signal on the software tells you to. like that will be better than trade on limited experience knowledge and full of emotions. |
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scotty
Senior |
22-Nov-2007 21:38
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Hi elfinchilde and all, Thank you for all your advice. After reading some of the posts here, I realise that I have not been affected as badly as some of you here. Regardless, I think the lessons learnt is the same. |
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Manikamaniko.
Master |
22-Nov-2007 20:57
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CashCumStock... :) |
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elfinchilde
Elite |
22-Nov-2007 19:45
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hey cashcomstock...juz to share some general tips, which i believe almost all the seasoned players here use: 1) Never trade in an instrument you do not understand. So for warrants, if you are not able to understand the underlying stock/index, do NOT enter it. Esp since warrants are highly volatile--one day alone can make or break a person. For myself, i do play a bit of warrants too, but only STI, because that is what i understand. So yes, gains are less, but loss is also less. Warrant play is fast play. 2) Don't look at the potential profit, look at the potential loss when you buy! ie, decide your stop loss point, and if it drops to there, CUT. esp so for warrants. Not unless you're a value investor, in which case, you'll choose to enter more (kilroy's post)--but this also means you have cash on hand every time; because in the first place, you'd not 'whack' everything into a counter. Totally different strategies, they must not be confused or it'll be detrimental. 3) Yes. knowledge and skills more important. Consider it tuition fees. Like what asterisk said, the market charges dearly. Less than a mth to cover back: depends on what your capital is, and what risk you are willing to stomach. Nothing's impossible. But one should also not be too greedy and charge blindly. In the market, one feels nothing at all. btw. agree with cashiertan abt not putting in too much into warrants--cos yes, major gain, but also, likely major loss. Personally, i never put more than 5k into warrants (less than 5% of total cap), and then, i'm prepared to write off the entire sum. Also, i only play warrants as a hedge, not a major instrument. If possible, stocks are better, since there's a chance of recovery, and one can always average down if it's a good counter. Less gain, but less risky. Things with shelf lives aren't too good. |
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Manikamaniko.
Master |
22-Nov-2007 18:47
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Cashier's post below is excellent advice... :) A very enlightening post!...
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Manikamaniko.
Master |
22-Nov-2007 18:43
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Cashcomstock... :) In view of your losses, it may be good for you to get this package immediately ... => "Master Trader" ... Mastering the teachings will definitely help to ensure your future success... This is my personal recommendation to you... 
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cashcomstock
Member |
22-Nov-2007 18:28
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Thank you so much for all the valuable information. The 200 lots of call warrant make me lost another 24K. I have sell it off. Total lost is about 55K from the day one I started trading until now. This month alone lost more than 40K. I have learnt the lesson. Don't know how to cover back the losses. Furthermore, never thought of losing the 24K when I bought the 200 lots of warrant. Sometimes it is very difficult to gauge the market trend even within a day. A good example is today, HSI move up in the morning from - 300 to + 380 in less than 2 hrs. Who knows after lunch, it came down like a roller coaster to - 800 and closing is - 613. It is really unpredictable. I already foresee that there will be a drastic drop today as DOW dropped 211pts yesterday but never thought that HSI went up in the morning instead. I hope it went up in the afternoon but unfortunately it dropped like no support. It seems that I lost only few transactions since I started trading but the few transactions outweighed their other 50 transactions. Most of the transactions that I bought won only less than 300 dollars but those few transaction lost 5K to 30K. I think my strategy of winning a little and losing a lot is not work. I didn't cut loss everytime and hope that it will rebound back. I was wrong. It didn't and even dropped further. When I the price go up a bit, say 2 bids, I was very nervous and sold it. It was really a bad strategy. Any idea how to cover back all the losses in less than a month? I think it is not feasible or possible. I think I need to gain more knowledge and skills. Very sad. Actually lost more than what I expected. |
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cashiertan
Elite |
22-Nov-2007 16:18
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playing warrents must be prepare to win and lose alot since it is 5 times leverage. to buy warrent, 1st u decide the max amt u can lose per trade. example 20k. than u just buy $20k worth of stocks. $20k worth of warrents = controlling $100k of equity. for me if i just wanna play warrent, i divide my capital into 20 parts. 10 parts i never use. which mean 50% of my capital is free from risk, sitting at money market to earn int. each order i will enter with just 5% or 1 part of my total capital. assume 1 part = $5k, i will enter $5k worth of warrent which areadi allows me to control $25k of equity. even if the warrent become worthless, i just lose the $5k. if i decide to add lots into my warrents, i will enter another 1 part ($5k worth) each time and ave up. this way, u can hardly lose more than what u can afford to. u can divide your capital into 40 parts if u like. never ever use more than 30-50% of ur capital at anytime! 50% should alawys be untouched. if the professional traders and institution players use this roughly this methods (theirs is more chim but better) i cant see why we shouldnt. Pro: unlikely to overleverage , limit your lost Con: lesser winnings. (however, note that how many ppl can be so accurate unless got inside news) of course u need to do ta on Both the warrent and the motherstocks and also watchout for the expiry. spore warrents are limited volume and boring thou |
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musicwhiz5
Senior |
22-Nov-2007 15:44
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Value investing can help ensure you do not suffer unbearable losses simply by stressing the margin of safety concept. Invest in a company and see it as part-ownership rather than treating shares like a commodity to be traded OTC. Only when the tide goes out so far from the beach, then you can see who's been swimming naked. This line is a classic line by Warren Buffett, and holds true in today's market. |
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jasonfaxingliu
Senior |
22-Nov-2007 15:24
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hi cashiertan, good lesson from you and wish you can enlighten me for my mistakes to vest in warrants 1,000 lots when enticipate UOB to shot up but was a little too early when US announce losses before UOB announce its Q3 profit.. on contral, I just miss a day that the result is a big lost.. in panic, sold off all stocks at a lost that I can cash in profit if I'll have to wait... serious mistakes and all that I know is trade within our means, otherwise, will be like me |
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cashiertan
Elite |
22-Nov-2007 14:12
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130k may be a smaller portion of ur wealth as compared to cash whose 30k maybe more than 50% of his wealth. so the amt is not the key, the % is. when trading stocks, dun use $ as guage. use the %. it is better for long run. warrents is leverage up to 5x (i heard b4) and acts like a options. thus the way to trade is, if u intend to invest $10k into a warrents, u just buy $2k worth. if u buy $10k of warrent, means u are buying on margin $50k worth. thus for example 100 lots of HSI call warr is 500 contracts of calls! options on the contrary is a very safe . u can lose 100% of ur shares if the co go bankrupt but not options. u simple lose just 10% of ur $ what is options. it is a contract that allow u buy a certain lots of shares at the fixed px within the stated time frame. thou options is leverage 10x, it doesnt mean ur lost will be 10 times. for example if i want to buy 10 lots of singtel, i need to pay 30k but for option, u just need to pay $3k worth of a call option, what u lose is just the amt u buy. however u dun even lose the full 3k unless u didnt excercise or sell it b4 options expired. options thou can be traded real time, however i still think option traders best trade EOD. thus those keen in trading EOD and dun want to face the stress of real time management, can consider trading options. options to me, if traded well, can give u 10 times the potential profit but just 50% (max according to my way) potential lost on the capital invested. however to trade options in the safer method will req min 10-20 k usd / euro worth of capital. |
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KiLrOy
Master |
22-Nov-2007 14:10
Yells: "I buy only what I can see." |
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folks, I think all of you stand a greater chance in profting from the stock market if you learn to be a value investor. If you arent a pit trader, you will simply not have a chance esp in a down market unless you are a sophisicated investor backed with lotsa money like what Elf said. Stocks are good for long terms. I started buying at 2005 and even now 80% of my counters are still above water despite the recent bear. No doubt my portfolio has shrunk in profit, but the high div yielders kept the money rolling in of which I will use to further DCA each quarter. Its boring stuff but it works. If a BIG BEAR do come, I may be drown too :) but will be looking to buy those undervalued companies. Please don't BET on the market. Its not worth it. Just like how you spend on education/knowledge, to get into the profession you want, you need to put in equal effort and money if you want to reap profit from the stock market. Buy into a company business rather the buy on stock price is all I have to say to all. |
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jasonfaxingliu
Senior |
22-Nov-2007 13:50
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I lost 130K in a month.. so it is a big lesson for me |
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ericsim
Senior |
22-Nov-2007 13:10
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totally agree, i dun bet on warrant, option etc...simple buy/sell of share already so tedious/profound and still hv a very way to learn. General rule : WIN BIG LOSE BIG always trade within your mean & discipline yrslf....good luck |
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