Stocks
| Counter |
Date In
|
Date Out
|
Action
|
No. of Shares
|
Price In
|
Price Out
|
Profit/Loss
|
| IndoAgri | 23/11/09 | 15/1/10 | Long | 1,000 | S$1.850 | S$2.350 | S$500 |
| Ho Bee | 16/12/09 | 13/1/10 | Long | 3,000 | S$1.581 | S$1.810 | S$647.46 |
| Straits Asia | 16/12/09 | 8/1/10 | Long | 2,000 | S$2.350 | S$2.560 | S$381.68 |
| OCBC | 17/12/09 | 7/1/10 | Long | 1,000 | S$8.710 | S$8.99 | S$238.69 |
| UOL | 23/12/09 | 11/1/10 | Long | 1,000 | S$3.970 | S$4.010 | S$5.32 |
| Genting | 28/12/09 | 22/1/10 | Long | 4,000 | S$1.210 | S$1.20 | -S$78.82 |
| IndoAgri | 29/12/09 | 15/1/10 | Long | 1,000 | S$2.180 | S$2.350 | S$170 |
| Suntec REIT | 7/1/10 | 22/1/10 | Long | 3,000 | S$1.39 | S$1.33 | -S$214.68 |
| Anhui Tianda Oil Pipe | 11/1/10 | 18/1/10 | Long | 6,000 | HK$4.26 | HK$3.96 | -S$391.51 |
| Venture | 15/1/10 | 22/1/10 | Long | 1,000 | S$9.32 | S$9.05 | -S$304.45 |
| Zhuguang Holdings | 26/1/10 | 27/1/10 | Long | 8,000 | HK$2.17 | HK$1.97 | -S$354.35 |
|
Total
|
S$599.34 | ||||||
My trading goal that I set for this year is to make an average of S$2,000 every month. Please do note that trading income is never consistent, and it can vary greatly month to month. Although I use the word “average”, it may mislead to I aim to attain S$2,000 every month. It makes more sense to use the total value for the entire year where S$2,000 per month will translate to S$24,000 by end of this year. With this month’s profit of S$599.34, I am left with S$23,400.66 to achieve for the rest of the year. I think it is easier to measure this way.
What I am disappointed with myself is making the last two trades. After knowing the market is turning down for a retracement, I still went in the market. The 2 wrong trades eroded part of my profits and once again, paid for the lesson titled, “know when not to trade”.
FOREX
| Counter |
Date & Time In
|
Date & Time Out
|
Action
|
No. of mini contracts
|
Price In
|
Price Out
|
Profit/Loss
|
| AUD/USD | 13/1/10 | 13/1/10 | Long | 1 | 0.9259 | 0.9222 | -US$37 |
| USD/CAD | 14/1/10 | 19/1/10 |
Short
|
1 | 1.0306 | 1.0319 | -US$12.60 |
| AUD/USD | 29/1/10 | 29/1/10 | Short | 1 | 0.8932 | 0.8956 | -US$24 |
| Total | -US$73.60 | ||||||
My trading goal that I set for FOREX is to make an average of S$200 per month. Hence, following the yardstick for stocks, I will need to attain a total of S$2,400 from FOREX trades this year. This month’s loss of -US$73.60 will stretch my goal to S$2,503.78.
For this month, I tried to be more selective for my FOREX trades and enter only when there is a higher chance of winning (except the last trade). I need to gain confidence and learn to apply the right analysis to trade. Persevere!
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{ 7 comments… read them below or add one }
Personally I think its time to realise your profitable positions. My model shows that equity market globally is going to fall.
You are right. It is not a good market condition to have any position now.
haha just to peak on your performance, hello fx educator.
one stupid mistake traders made is to set a goal in their performance!
do that you will end your trading career pretty soon.
and closing your profitable positions is one sure way to achieve that performance.
which is usually the wrong way. you do know what is letting the winner run don’t you.
cheers
I start to realise trying to set a target is indeed not healthy. The market is not my servant and I should not demand the amount of money I want to get out of it.
And yes, profit taking is usually a comfortable but wrong move. What feels good in the short term is bad in the long term.
I agree with you, coconut.
yes alvin, agree is the easy part,
do it will be your biggest challenge, i went through i know, it require all and i mean all your will power!
i am like a mad man talking to myself, ” s***** you damn profit, i don’t give a damn “, doing exactly the opposite of a normal human being.
i wish you the best.
do visit jmot blodg, i wrote a lot of stuff but nobody seem to be interested in haha.
“The market is not my servant…”
well the market is both a servant and a master to you.
if you are on a losing position, be a master and cut your losses.
if you are on a winning position, let the market be your master and let him do what ever he wants with you. make sense?