My costly misses in 2010 and a summary of my performances in first half 2010

I am far from achieving my targets set in 2010, and here' s why:

1. The purchase of Swiber just before the correction in Jan was most untimely. It tied up my funds and cost me. I was eyeing Noble and a few blue chips at that point.
Estimated costs: Noble $2,000 - $1,000 = $1,000

2. The sale of SATS was very untimely as it was done immediately after the Feb correction.
Estimated costs if I have waited 1 more month: $2,000 - $400 = $1,600

3. UOB trade was closed out too early:
Estimated costs: $1,800 - $200 = $1,600


The lack of nerves failed me. My trading was affected because subconsciously, I was expecting the market rally to end soon. But still, as a trader, I think it is very important for me to stick to the current trend until it reverses.

Personally, I feel the first half of the year could be the "last leg" of the stock rally that began in March last year. This was exhibited by the fact that stock price have only gone on to make marginal highs after the Feb correction. In fact, many stocks did not even break their Jan highs. This is only normal, especially after most stocks have climbed 100% since last year. I did not make much from this last stage of the stock rally. But, I am not complaining. I have to be content with what the market gives me. I am hoping that a new bear market in the second half will give me a fresh start.

A summary of my performances in 2010:


Total Trading Cumulative Profit/ Loss in 2010
Bal b/d +378
May -1,244 (-344 from forex and -900 from SembMar)
Bal c/d -866

Big mistake: Follow other people's advice on longing SembMar and Eur/Usd). This costs me $1,000. Lesson: Never again read other people's blogs. Always do my own analysis

Long-term Positions (closed)
Citigroup +10.5%
Gold +4%
SATS +4.4%
Swiber +4%

Gold was closed because I want to pare my position in it and Citigroup was closed because it triggered my definite sell point. Good thing now, is that I have more funds for long positions later.

Long-term Positions (open)
Gold +8%

Cumulative Long-term Positions 2010
+6.2%