The market has been consolidating for a long time. The last good trend was in Aug 09. Even the STI was able to break the 2700 barrier, it could not propel itself to greater heights. This just goes to show the weakness of the bull. It was a month where I was very stringent with the rules. I only went in those trades that have the best signals. Unfortunately, I have to accept what the market decides to do. Compared to the past few months, I only opened 2 counters. The first 2 counters in the table were carried from last month.
I applied the stop loss a little differently for this time. This is because of the tight trading ranges of the stocks – the resistance and support are very close together. If I had put the stop loss just below the support, I would have been stopped out earlier. Hence, I drew the Fibonacci and selected the level that is immediately below the support, which gave me a bit more room for the price to fluctuate. However, I did not violate the rules because the stop loss is still less than the maximum 8% tolerance. This would give me a better chance to stay in the game and wait for the run.
| Counter |
Date In
|
Date Out
|
Action
|
No. of Shares
|
Price In
|
Price Out
|
Profit/Loss
|
| SATsvcs |
22/09/09
|
02/10/09
|
Long
|
1,000
|
S$2.210
|
S$2.150
|
-S$60
|
| Hiap Seng |
24/09/09
|
05/10/09
|
Long
|
3,000
|
S$0.700 |
S$0.640
|
-S$180
|
| Rotary |
12/10/09
|
30/10/09
|
Long
|
2,000
|
S$1.090
|
S$1.010
|
-S$160
|
| SATsvcs |
15/10/09
|
Long
|
1,000
|
S$2.560
|
|||
|
Total
|
-S$400 | ||||||
I have just attended the T3B Forex in Sep and from now on, I will track and post the results too. The first few trades were quite a disaster as I am not familiar with the rules. I must say the T3B stock course is a much easier system to understand and follow. In addition, more time is needed to monitor the Forex trades, especially intraday ones. I am starting small for Forex as the purpose is to practise and getting the rules right. I opened a Cityindex FX account with S$1500 which converted to US$1100+. Since we were told not to risk more than 5% of the margin, we can only trade 1 mini contract for every US$1,000. The reason why I am not trading a demo account is because without any real money, there is no emotion involved. Hence, a mini account is a good balance between risk and real education. The result is a net profit of US$1. Not very significant but it is the experience that counts.
| Counter |
Date & Time In
|
Date & Time Out
|
Action
|
No. of mini contracts
|
Price In
|
Price Out
|
Profit/Loss
|
| EUR/USD |
10/07/2009 07:44
|
10/07/2009 19:06
|
Short
|
1
|
1.4702
|
1.4696
|
+US$6.00
|
| USD/CHF |
10/08/2009 08:40
|
10/08/2009 08:51 |
Short
|
1 | 1.0276 |
1.0286
|
-US$9.72
|
| USD/CHF |
10/09/2009 08:04
|
10/09/2009 08:46
|
Short
|
1
|
1.0282
|
1.0312
|
-US$29.10
|
| USD/JPY |
10/14/2009 07:02
|
10/15/2009 07:09
|
Short
|
1
|
89.24
|
90.24
|
-US$110.86
|
| USD/CHF | 10/21/2009 09:06 | 10/21/2009 13:14 | Short | 1 | 1.0110 | 1.0050 | +US$59.70 |
| EUR/JPY | 10/22/2009 07:39 | 10/22/2009 11:05 | Long | 1 | 136.83 | 137.30 | +US$51.36 |
| EUR/USD | 10/12/2009 12:00 | 10/26/2009 11:59 | Long | 1 | 1.4797 | 1.4936 | +US$139.00 |
| GBP/USD | 10/26/2009 19:16 | 10/26/2009 20:36 | Short | 1 | 1.6312 | 1.6342 | -US$30.00 |
| GBP/USD | 10/30/2009 05:00 | 10/30/2009 06:00 | Long | 1 | 1.6549 | 1.6512 | -US$37.00 |
| USD/JPY | 10/30/2009 06:06 | 10/30/2009 07:57 | Short | 1 | 90.88 | 91.23 | -US$38.38 |
| Total | +US$1 |
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Ouch!!!. I’m attending Solomonfx Live Trading Room will update you about their performance.
No choice. Losses are part and parcel of trading. You cannot take if you are not willing to give.