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Gold916
Veteran |
06-Oct-2013 22:58
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x 0
x 0 Alert Admin |
Wow...must relax a bit wor..lol
Now got family Liao Everything must think think first...
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spss1955
Senior |
06-Oct-2013 18:22
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Hi SC and ST, thank you both for a very interesting debate. I'm sure the readers have benefited from the salient points presented by the 2 of you. I believe all the key points/arguments have been raised by both and it's best now to agree to disagree and move on. In the final analysis, I see the 2 of you having the same goals, ie to make money but using different strategies and approaches. Now it's left to the readers to adopt and apply the 2 different approach to stock trading (gambling?) as they see fit. Huat ah.
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joseeng
Master |
06-Oct-2013 18:16
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x 0
x 0 Alert Admin |
Bro, I believe u also used to bet on soccer?
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star-trader
Senior |
06-Oct-2013 17:56
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x 2
x 0 Alert Admin |
SC I think you get me wrong.. :) I don't mean generally contra is like casino punting, what I mean is the way you play any stocks(non-fundamental) using contra T+5 without considering  the risk, buy and sell within the T+5, or cut loss when T+5 arrived will do more harm than good. Is like gambling, either open big/small without knowing the true value of the stocks. But, nevertheless this is your trading style, like what you said, as long as can make money, any style also consider good.. :) Huat ah..! P/S to Everyone: " Always remember, trading a " worthless" stock although with much " publicity" is as much as losing half the battle although sometimes you are lucky enough to ride the uptrend wave and earn the profit, but at the end of the day, the lose will be unbearable "   Star-Trader
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Netengineer
Senior |
06-Oct-2013 17:12
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x 0
x 0 Alert Admin |
bro duofu. many of us are with you. paper loss, money loss.. but lets try not to put our weekend down. :D tmr need to have 'war' again. have some rest. chuan dao qiao tou zi ran zhi. cheers! hoping for the best tmr too! 
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Stockcham
Elite |
06-Oct-2013 17:10
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Bro, You know I nearly brought up your famous quote on "Blue Shit" during the discussion on fundamental. I totally agree with you. It is the people and not the kind of trading that makes one broke. Don't worry your puay kee will be very safe. ..Huat ah!
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Stockcham
Elite |
06-Oct-2013 17:05
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x 0
x 2 Alert Admin |
Kum sia bro! Heng you are not referring to me as the one who promote contra play. If not I'm sure i will kena jialat from the sj bros here....lol. Frankly bro, you are good in this fundamental thing. If you can share more i can learn more from you.
Huat ah!
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Stockcham
Elite |
06-Oct-2013 17:01
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x 0
x 2 Alert Admin |
ST,
I knew about the difference in trading style n that's why I didn't want to continue to discuss further because it won't end. But since you brought up again, then I share my view. If contra play is the same as casino punting, then day traders or full time traders are all gamblers, n not consider a profession. Anyway, I respect your trading style n has never doubt that your trading style is not workable. As long as can make money, any style also consider good. Huat ah!
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duofu1285
Member |
06-Oct-2013 16:53
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bro...so scared of 9am tomorrow. paper losses 4.5k dunno how to payback :(
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Stockcham
Elite |
06-Oct-2013 16:50
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x 0
x 0 Alert Admin |
Bro, my previous debt not all from broking. Lose money go borrow from friends, relatives, insurance company etc. Pay for losses n hold some counters. Use the scripts (last time got scripts) as collateral n get loan from finance company n buy again. Then margin call comes in, so borrow again to top up. Top until cannot top up. So sold everything take back $100. Those were the days....young so impulsive. ..hoot n hoot....lol.
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TofuLeg
Member |
06-Oct-2013 14:56
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The most storied and important trader who ever lived, Jesse Livermore, was not of the mindset that there was always some kind of action to be taking. Livermore himself sums it up thusly: ?I learned early that there is nothing new in Wall Street. There can?t be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again. I?ve never forgotten that.? Jesse left behind a wealth of knowledge about the art of speculation. His exploits have educated, influenced and inspired every generation of trader since Reminiscences was first published in 1923. Here are nine important things Jesse Livermore said regarding excessive trading: 1. ?Money is made by sitting, not trading.? 2. ?It takes time to make money.? 3. ?It was never my thinking that made the big money for me, it always was sitting.? 4. ?Nobody can catch all the fluctuations.? 5. ?The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money everyday, as though they were working for regular wages.? 6. ?Buy right, sit tight.? 7. ?Men who can both be right and sit tight are uncommon.? 8. ?Don?t give me timing, give me time.? 9. ?There is a time for all things, but I didn?t know it. And that is precisely what beats so many men in Wall Street who are very far from being in the main sucker class. There is the plain fool, who does the wrong thing at all times everywhere, but there is the Wall Street fool, who thinks he must trade all the time. Not many can always have adequate reasons for buying and selling stocks daily ? or sufficient knowledge to make his play an intelligent play.?   |
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duofu1285
Member |
06-Oct-2013 14:55
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x 0
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Bro SC,   How come you can owe for 10 years? I thought contra losses must be paid within 30 days MAX? if not you will be barred from trading? Did you negotiate a repayment deal then? 
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star-trader
Senior |
06-Oct-2013 14:32
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x 0
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  SC, Yes, for discussion only.  Well there are really different approach and view on how we trade: Firstly, I don't trade contra, if needed only I will activate CFD. Secondly, I don't treat stocks like gambling, if a stock fundamentally not strong enough (money losing, mgmt issue, etc etc) .. I won't trade as buy/sell in my short term trading even though that stock can have so much " publicity" . At the end of the day, it will be worthless if the trade doesn't turn your way and force to sell in the short period of time. Thirdly, Once I have interest to trade a stock for short term trading, I will prepare a plan, a) if I am comfy with the stock's fundamental for my short-term trade,draw support/resistance,technical indicators, trendlines,volume and entry/exit points. To your question on my short term duration: Basically: Short-term: 0 - 1 month Mid-term: 1 - 3months Long-term: more than 3 months Everybody has their own gauge on what to set for the short,mid and long term. For my case, it is the above.  My short term can be as short as 1 week, depending whether my stocks hit the resistance. In stock, another term needs to take note is Support/Resistance.  Once hit the Resistance, I will make sure I take the profit during the time the stock is still in positive uptrend based on the technical indicators, I will buy again when it hits the Resistance if the stocks are still in uptrend. So in this way, I have made few cycles on one particular stock as the uptrend is still intact. From what I feel, contra(your so called short term) is like punting in a casino, if it doesn't go up in that short term, you got to sell, and after selling, if it rebounded, you defintely lose those hard earned money. If everyone can just buy and sell the next day, everyone will be rich in no time..  Anyway, as mentioned previously, this is just my view and if you have been doing this all the while with profits, then just be it as that is the right method for you. Till then, Star-Trader
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warrenbegger
Elite |
06-Oct-2013 14:32
Yells: "Anyhow Buy Anyhow Die ^_^" |
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x 0
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Last post before I fly, wish my plane don't drop into the sea and will be back.. In any kind of investment,  one of the main key to survive is  about RRMMC (Risk Ratio Money Management Control). No matter Contra, trade, investment or gambling in any kind. Without Discipline and RRMMC, u will be kill by the rotten luck some days. No ones is lucky or unlucky forever, is how u control yourself. That's why so many lose and only just a few that consistent win throughout the years. Is not changing the view about the market to win, is changing your  self  and how  to guard  against those cruel market. To survive and to  get the best odds. Gambler bets all they got, if lose they borrow and fight back. They wish luck will come one times, lose they stay and fight, win they want to win even more. Smart player only play within their means, they put only 1 finger to test the outcome, and not the whole hand or arms. They don't depend on luck, but on self control. |
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TofuLeg
Member |
06-Oct-2013 14:18
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To add on on the 3 mentioned counters. Ytd saw the news on breadtalk as well, with the launch of it's new headquarter, they are aimming to expand their overseas marekt. If any bro and sis want a long term investment, perhaps can look into Breadtalk. Huat ah!! Huat ah!!
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SFGuyRuleZ
Veteran |
06-Oct-2013 12:56
Yells: "You are your own master.." |
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Hi Bro Stockcham. Sorry for the misunderstanding. I am not referring to you but just saying from a general viewpoint, not referring to anyone in particular. I know you are sincere and I also benefited from your buying and selling volume theory, which I applied and observe when I am free and I do think they are useful. Just want to serve as an alternative voice here, so youngsters can think twice or at least more informed when they decide they want to be contra players. In the stock market, everyone has different styles of " playing" . Some people can do very well in contra or short-term trading, some people can do much better in investing or mid-long term trading. Asking them to suddenly swap styles with each other can do more harm than good and they will fail miserably. My point is that one has to know or at least figure out his/her own style, then decide his/her role in the stock market. But when you attempt a certain style for many times and really tried very hard and still don't work, perhaps, it is time to revamp a brand new strategy for this particular style, or to even change style completely, as that person is just not cut out for that particular style. Just my own humble thought and opinion. Cheers and huat ah!! And have a lovely sunday to everyone!! =)
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Spivvy
Senior |
06-Oct-2013 12:41
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x 0
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Thanks bro one of them has been in my watchlist. The other 2, esp EMS, i will keep them under my radar. EMS cheonged and almost broke above 10c but has corrected since. Now is ard 7c i think? Bro SC or anyone can shed some light? Im not a very technical or fundamental person, i just go with the flow & instinct and try not play contra. I exited all my positions before last week and now looking for the right opportunities to buy good potential companies. Thanks.
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camukaba
Member |
06-Oct-2013 12:28
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x 0
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Yesterday's Business Times named EMS Energy, SingHaiyi and Hankore as " more fundamentally supported stocks" . For your info bro. I didn't look into them so I dunno how true that statement is. 
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Spivvy
Senior |
06-Oct-2013 12:18
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And yes. Bro SC u said Dow may hit a triple top if it cant cross 15,000. So we have to wait & see how Dow goes first before committing. What do you think will be safe point for us to re-enter based on the big US pic? | ||||
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Spivvy
Senior |
06-Oct-2013 12:15
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Bro SC, your advice on thee last post well noted. Wait for correction in the next 2 weeks, then look for those good fundamentals (potential to move up with BBs interest), buy in small amounts as mkt corrects, then keep for the MT or LT. Dont contra play. | ||||
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