This is really a bad month for trading. The market was trendless and consolidating most of the time. The evidence can be seen in the holding period of the counters in the table. You can see I held many of them for almost an entire month, yet they ended in losses.
The mistake I made was overtrading. I opened too many counters without any sign of a strong trend. Hence, losses were accumulated unnecessarily. This is the problem when the rejection of trades is not strictly practised.
With the 8% stop loss, there was enough room for the stock price to fluctuate. But the eventual weakness of the stocks caused the prices to fall and stop losses triggered. As the sign of weakness became obvious, I started to observe very strict exit rules – set stop loss just below support even though they may be very close to the current price. I have also stop opening new trades towards the end of the month.
It will be a test for me in this difficult period. I must be able to adopt a wait and see stance, and not to get involved in the market unnecessarily.
| Counter |
Date In
|
Date Out
|
Action
|
No. of Shares
|
Price In
|
Price Out
|
Profit/Loss
|
| Ezion | 140809 | 150909 | Long | 2000 | S$0.765 | S$0.780 | +S$30 |
| GuocoLeisure | 260809 | 020909 | Long | 5000 | S$0.44 | S$0.505 | +S$325 |
| GuocoLand | 260809 | 300909 | Long | 1000 | S$2.20 | S$2.20 | S$0 |
| PineAgri | 260809 | 150909 | Long | 10,000 | S$0.23 | S$0.20 | -S$300 |
| YangZiJiang | 260809 | 020909 | Long | 2000 | S$1.03 | S$0.975 | -S$110 |
| ASL Marine | 020909 | 300909 | Long | 2000 | S$1.020 | S$1.040 | +S$40 |
| Osim | 030909 | 160909 | Long | 4000 | S$0.520 | S$0.478 | -S$168 |
| Yanlord | 070909 | 290909 | Long | 1000 | S$2.410 | S$2.330 | -S$80 |
| Epure | 080909 | 280909 | Long | 4000 | S$0.630 | S$0.585 | -S$180 |
| Allgreen | 080909 | 150909 | Long | 2000 | S$1.260 | S$1.160 | -S$200 |
| IndoAgri | 090909 | 280909 | Long | 1000 | S$1.780 | S$1.650 | -S$130 |
| SATsvcs | 220909 | Long | 1000 | ||||
| Hiap Seng | 240909 | Long | 3000 | ||||
|
Total
|
-S$773
|
||||||
{ 1 trackback }
{ 2 comments… read them below or add one }
Found your site through search engine on Dennis Wee. Boy did I rss. Your articles are constantly refreshing. Don’t worries I have more worst days then good days. Learn from the arts of Forexmentor and Fxbootcamp. Had learn from FX1 however that stamps my need to pay for seminars. Do you think that is a good idea?
Good idea to pay for seminars? I do feel it is important for total newbie. That being said, one can still self learn and develop his own system. However, it will take a lot of effort and a long time to test, backtest, forward test, etc. It takes time to prove whether a system is robust enough to survive bad times and profit greatly in good times. Learning someone’s system is a short cut, because that person has prove the system is successful. It then allows you to work with your psychology imeediately.