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Fellowship of the Shares
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bunbun
Senior |
18-Aug-2007 01:03
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uncle kiasu, u said for a few coys share buyback. how come my counters, no coy share buyback??! aiyoyo... today woke up late (close to 12.30pm) coz thought mkt down, no pt waking up so early monitor mkt since cannot play contra during this difficult time (and heart not so strong to cut loss), almost died of shock when i saw hiap hoe at 80cts! alamak.. from good fat profits to breakeven to loss. sigh. painfiul cycle to go thru. $kam$go, how how? all coz of greed! im nt among any of your heated/cooled frogs theory leh. but im ruled by greed in a bull mkt and ruled by fear in a bear mkt. how how? :) |
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Manikamaniko.
Master |
18-Aug-2007 00:09
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Perhaps it's time to adopt some workable system in shares trading. |
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cyjjerry85
Elite |
17-Aug-2007 21:40
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wow..thats pretty comprehensive! |
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baseerahmed
Master |
17-Aug-2007 21:38
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Rules of the Trade :
1. Get educated - If you are not, the market will make you pay. If you play the market without educating yourself, the market will inevitably take your hard earned money. You may get lucky once or twice, but in the long run the market will take it all. It is definitely cheaper to get educated about the market rather than learn by trial and error.
2. Don?t trade with capital you cannot afford to lose - The stress of trading is high enough. Scared money never makes money. The market is unforgiving and will take your last dime if you let it. Trade only with capital that you can afford to lose. 3. Know why you are entering a position - Don?t gamble and enter a position just to be in the market. Enter with a plan. Have a target for the position that you enter. More importantly, have an exit strategy for the position if you are wrong. Jesse Livermore, one of the greatest traders to ever live, said 10% was the most he was willing to lose on a single trade. 4. Never average down on a losing position - If you have entered a position and you are wrong why compound that loss by adding more. In 2000, we recall many people averaging down on long positions only to see them fall lower. Example, Bought LU(Lucent) @ $80.00 in the year 2000. Added more stock in 2001 @ $45. In 2004, the stock we trading at $2.50. Never average down on you?re losing positions. It is a recipe for disaster.
5. Never put all of your capital on one position - If you leverage yourself too much on one position you will not be able to take another position should a better one come along. Also, it becomes very difficult to control emotions when you are over leveraged in one stock. 6. Sell your losing positions and keep your winners - It is human nature to want to keep your losing position until you are even or positive. Most investors sell the winning position to hold the loser. However, the winner continues to win and the loser continues to lose. We've seen this happen time and time again. Remember keep your winners and cut the losers. 7. Let your winning position run and cut your losers fast - This is a hard one. Many times when you get a small profit you take it too quickly only to see the position go to new highs. Know why you are selling the winner. That is how you make the big profits. 8. Never change your stop price - Once you place a stop price, whether physical or mental, always abide by it. So many times we have seen stops ignored and the losses become enormous. Stops are a form of damage control or insurance. If you loose too much on a given position, it could knock you out of the game completely. 9. Learn to lose small - The market is unforgiving. This is a humbling profession and in order to survive you must keep all losses small and understand that they will happen. Once you learn to lose small, you will be on your way to success. 10. Buying and selling on news and tips is always wrong - News and tips are the same. The market/stock already has the news priced in. This is why many times a stock sells off on great news and rallies on bad news. It?s already factored in. 11. Trade what you see, not what you believe - As much as you hope, pray, wish...a trade will act the way it will act. Watch price action and charts; it tells you everything. Once you turn towards faith and hope, just get out! 12. Entry points are everything - The correct entry point will make all the difference. Step back, and wait patiently. If you miss it, we promise another trade will come along shortly. 13. Quick and easy - A day trade is supposed to work out in an allotted time. This time should be thought about prior to entering a trade. Once in the trade, if it doesn't materialize within that time frame, chances are it will turn out to be a loss. Dump the position if it doesn't work out in that time frame. Example - Entering a long position as a day trade, we expect a run-up in price within 5 minutes. If we're still sitting in that position in 10 minutes, chances are it's either losing already or will become a loser. Take the FLAT OUT or SMALL LOSS! 14. Stops - Always use stops. Even better, use a mental stop, but only if you truly can abide by it. 15. Big loss - No profitable day trader takes a big loss. Small losses are the key to success. If you are making $200 per day trade, then the most you should ever lose on one day trade is $200. Example of the wrong way - If you make $200 on 9 straight trades and on the 10th trade you lose $2,000, how much did I make or lose? (-$200). You might be batting 90%, but you're a losing trader! 16. Patience - Trading is like being a lion and waiting in the long grasses to pounce. Stay back and wait for the perfect time to jump on the trade. Do not worry if you have not made a trade all day. One will come along. Jumping out at the wrong time will only mean you go hungry. 17. Entering the trade - Before buying or selling a swing trade or day trade always do your DD (due diligence). Analyze the charts, read the technicals and fundamentals, then enter. Know the reason you are entering, and know what you expect to make out of it. Never let it become a losing trade. 18. Never let a winner become a loser - Never enter a position, be in the money significantly, and then watch as that position becomes a loser. Once you are in the money on a trade, set a stop at least at break even, or set a trailing stop. 19. Never let your emotions affect your trade - A good trader has no emotions. We are supposed to trade based only on what we see. Just because you're trade was up $1000 dollars 10 minutes ago and now is only up $700, doesn't mean you shouldn't sell at +$700. Too many times we have seen people get attached to their max profit and only realize their mistake when that position goes negative. Any profit is a good profit. 20. No trader ever went broke taking a profit. 21. Bulls make money, Bears make money, but Pigs get slaughtered - Stay humble in the market. Expect each position to pay you off, but don't expect too much. Be smart about knowing when you have made enough. Get out and wait for the next trade. 22. Tips are factored in as well - The market is like a time machine and will amaze you at what is already factored into the price. Many times a stock will sell off on good news. Buy on rumor Sell on news. 23. Market knows best - Realize that the market is always right. If a stock is falling/rising there is a reason. Do not try and force your views on the stock. It's a losing battle. ----------------------------------------------------------
mmmm... points 1, 3 , 17 pretty much sums what I had in mind when I posted Abimanyu's story from Mahabaratha ....hahaha : )
(copied from another forum ... thanks, cool79 )
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chinkiasu
Master |
17-Aug-2007 02:32
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and further to my silver lining post, I did a check with SGX announcements and I note that there quite a number of coys share buybacks on 16/8 too.... I wore my coat, with golden lining Bright colours shining, wonderful and new And in the east, the dawn was breaking And the world was waking Any dream will do |
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chinkiasu
Master |
17-Aug-2007 02:18
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hi garyskid.. welcome!! and many thanks for the beautiful music... certainly our hearts will go on.... |
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garyskid
Member |
17-Aug-2007 00:58
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http://www.youtube.com/watch?v=PKLFfVMqe-I |
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chinkiasu
Master |
17-Aug-2007 00:53
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hi, Singaporegal.. many thanks for your concern.. no lah I am really ok... just that I do see a silver lining soon... particularly as for me today SPC coy did a share buy back of 941 lots... there is a last 15 minute rally and counter closed higher against STI heavy drop. .. it shows to me that quality stocks will endure.... in any case as you have rightly pointed out, our economy is very sound and even today, US Treasury Secretary Paulson stresses "global economic fundamentals remain healthy""The overall economy and the market are healthy enough to absorb all this," he notes. ps as i write this, Eastonbay, I am also aware that DOW is now minus 298... |
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Manikamaniko.
Master |
17-Aug-2007 00:51
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There will definitely be no consecutive days of falls... Rebounds are a sure thing in a bear trend, as sure as the sun rises... |
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Erdinger
Member |
17-Aug-2007 00:33
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How many consecutive days can DOW drop??? I doubt that this can continue for Weeks...........Its the manipulation of hedge fund manager.....The biggest winner now are them and the brokers....... |
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Manikamaniko.
Master |
17-Aug-2007 00:18
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The "hot frogs" will still stubbornly call this a "correction", since they are still not bearish yet. |
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EastonBay
Master |
17-Aug-2007 00:11
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dow is now in -200 region... just being kaypoh... lights off soon. |
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Pension
Elite |
16-Aug-2007 23:45
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One way to stop share from falling is the banks to lend the listed company money at low interest rate for them to buy back their company share. Once the market recover, they can placed out the share they buy back and refund the money to the bank. |
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fruitty
Senior |
16-Aug-2007 22:42
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hi elf, all will be fine, cheer up. there's nothing to do in a bad time like this but to continue with our daily work etc and be strong. i'm quite badly hit too and more downside to expect. hi max, i cut my jiutian today which i got at ipo price. could have sold it much higher weeks back but too optimistic. can't bear to let go but was worried it'll drop below $2. PE too high, profits not impressive, doesn't pay good dividends and warrant (not yet given) priced at 80c. think it'll go up alot more when mkt stabilises but dun know when. may buy back later if it's cheap for sentimental reasons. i'm keeping a number of losses too, those bought this yr. i'm keeping cash now and on a lookout for shares with good profits and pay good dividends and stable biz. i'm still paying attention to CG, my main holding and will add on if it drops to 50c or when mkt stabilises (maybe yr end?). |
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elfinchilde
Elite |
16-Aug-2007 22:40
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dow freefalling: 12715.47 -146.00 / -1.14% |
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elfinchilde
Elite |
16-Aug-2007 22:32
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snoothie! *wail* huggggsssssss!!!! man. feel like bawling. sigh. :((( *!&*)^@)*&#)(*&_! dow and subprime! (&#)#&)*&#@ foreign funds! |
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CWQuah
Master |
16-Aug-2007 22:23
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Remember Warren Buffett's rules... 1. Don't lose money. 2. Don't forget the 1st rule. So... cut loss where required. These rules saved my measly capital, though I lost abt S$200. No pt hanging on "paper losses" while the BBs are STILL exiting the stockmarket. For any traded instrument... the big players always determine the stock's price trend... right now they need to review their money mgmt & investment mgmt to cover losses in other areas or to cover their margins. It's very evident from all the yen carry trade unwinding. Nothing wrong with FA/TA. Only catch is, trader sentiments override FA/TA currently, and big boys are massively liquidating their stock positions so there won't be much buyer support. Probably have to hold on to $$$ till mid-Sep 07 while the big boys lick their wounds before they reinvest - need some time for market consolidation at lower prices. That's the time when to really relook at the FA, but probably with a bit more sanity checks on the future prospects and growth potential of the companies after the massive rout. Maybe there's a silver lining after all - those blue chip companies that 'pah buey toh' and give regular dividends are beginning to look more and more attractive. I'd rather buy them after further discounts, than trying to do a switch to these evergreens while the STI keeps chionging. Singaporegal, I think right now it's still quite difficult to discern if it's a correction or bear mkt. Need to see where the market stabilises... and really relook the eventual business confidence level of the industries when the dust settles. Look up, chill out. What comes down, may still go up. |
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EastonBay
Master |
16-Aug-2007 22:21
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I seriously don't think TA people is any better off than FA. |
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maxliukt
Member |
16-Aug-2007 22:08
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is there anyone selling tomorrow to cut losses? |
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snoothie
Member |
16-Aug-2007 22:02
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Elfie, U not alone. You'll never walk alone. I also wana liao. |
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