One word describes my recent trading perfromance: cursed. Whenver I buy, market starts to go down. Whenever I sell, market goes up again. Besides blaming on my poor luck, is there any important lessons that I can learn? There are.
Firstly, fact that I made premature exit is a real 'crime'. This leads to further blunder, as in the second trade, I tightened my stops, but not profit target, therefore achieving my stop loss instead.
What a pain again it was, as Sino, after touching my stop loss, blasted off... Second pain. Would I still be pursuing with this trade? Not now, when it is already May. But, I will definitely be monitoring it.
Another realisation was that I could have bought it at a wrong time. I entered when stochastic was not down to the oversold region yet. Had I waited, I would definitely enjoy a better price (although expecting stochastic to come down to this level may not always be possible). Fact that stochastic came down so severely was due to the Swine Flu. Hence, for now, I am just resigned to sit on the sidelines, and watch the rest of the action, at the same time waiting for improved luck.
Friday, May 1, 2009
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