End July and beginning of August has been a good run for stocks. It is also the biggest win I ever had. This was due to the fact that I went for the “jugular” as suggested by George Soros (see this post, it was mentioned by Stanley Druckenmiller, “Soros has taught me that when you have tremendous conviction on a trade, you have to go for the jugular.”). Seeing the strong trend, I leverage 3 times of my capital to increase my profits. The stocks began to slow and retrace after the first week of August till now.
Number of Price Resistance Broken
So what have I learnt this month? In a good run like this, there are bound to be many price resistance breakthroughs. A reliable entry would be the first, second or the most, third, breakthrough in price resistance. Anything more than that would mean you are very susceptible to enter near the peak of the run, and suffer a loss when price retraces.
Wait for Price Retracement
Another important entry point is to wait for price to retrace. Stock prices do not go up in a straight line. They go up in a zig zag manner. A retracement gives them a period to take a rest. After the rest, it will have more energy to go for the next run. Hence when price retraces and then begin to rise again, it would be the best time to catch the next run up.
| Counter |
Date In
|
Date Out
|
Action
|
No. of Shares
|
Price In
|
Price Out
|
Profit/Loss
|
| Pac Andes |
150709
|
050809 |
Long
|
7000
|
S$0.211
|
S$0.265 | +S$378 |
| City Dev |
160709
|
050809 |
Long
|
500
|
S$8.880
|
S$10.010 | +S$565 |
| Indo Agri |
160709
|
170809 |
Long
|
2000
|
S$1.190
|
S$1.780 | +S$1,180 |
| UOL |
200709
|
180809 |
Long
|
1000
|
S$3.320
|
S$3.320 | +S$0 |
| Shanghai PetroChem |
200709
|
050809 |
Long
|
5000
|
HK$2.990
|
HK$3.85 | +S$799 |
| Capitaland |
240709
|
050809 |
Long
|
1500
|
S$3.930
|
S$3.694 | -S$354 |
| Olam |
240709
|
070809 |
Long
|
2000
|
S$2.430
|
S$2.46 | +S$60 |
| CNPC |
270709
|
100809 |
Long
|
2000
|
HK$7.30
|
HK$7.47 | +S$63 |
| Sino-Ocean Land |
270709
|
050809 |
Long
|
1500
|
HK$8.80
|
HK$8.15 | -S$181 |
| Beijing Capital Land |
270709
|
070809 |
Long
|
3000
|
HK$3.52
|
HK$3.29 | -S$128 |
| Ezion | 140809 | Long | 2000 | S$0.765 | |||
| GuocoLeisure | 260809 | Long | 5000 | S$0.44 | |||
| GuocoLand | 260809 | Long | 1000 | S$2.20 | |||
| PineAgri | 260809 | Long | 10,000 | S$0.23 | |||
| YangZiJiang | 260809 | Long | 2000 | S$1.03 | |||
|
Total
|
+S$3,090
|
||||||
You may also like:
- Trading Report Card – July 09
- Trading Report Card – Jun 09
- Trading Report Card – Apr 09
- Trading Report Card – May 09
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{ 4 comments… read them below or add one }
Hey,
great trading month. all the best to the next as well.
Hey,
great trading month. all the best to the next as well.
Thanks Drizzt! Hope it will be well and even better for months to come!
Thanks Drizzt! Hope it will be well and even better for months to come!