Saturday, July 2, 2016

A year later

It has been a year since I started trading as I took a break on and off for a few months here and there due to personal circumstances and it is only in the past few weeks that I have managed to successfully know and close my positions before the trend reverses. Previously, I just hope and hold on which reduces profits and also destroys my self esteem as I start to question whether I can only short but can't long successfully. I was tempted to reverse my trade twice but didn't and I was spot on both times! Argh, I'm still second guessing myself! 

I'm still way better at shorting although I only started shorting much later in my trading journey . Somehow my instinct for shorting is almost always spot on but since nothing goes down forever, I urgently need to work on knowing when to long. ACCICB told me that's because there's only panic selling and no panic buying due to human psychology which is why shorting seems to work better for  me. I seem to always miss the boat when it comes to buying and by the time I caught on, I'm unsure whether prices will continue to head north. 

I also learnt that I am just simply attuned to momentum trading rather than trend reversal trading. I'm working on systemizing my momentum trading and at the same time using ACCICB's trend reversal trading system in a bid to improve my skills in that area. I question whether I'll ever get good enough to make a living out of this and I must say that ACCICB is more positive in this aspect as he's confident that he will master it. 

The market has been hideous thus far and I'm far from breaking even due to some horrible trades done in the early part of my trading journey. I do see myself improving as evidenced by my archived trades and have been visualizing my growing account balance which has yet to happen. It seems to take just one bad trade to make me rethink everything and also hold off on making new trades which is very counter productive so it's another area I need to work on.

In the early days, my best trades were investment picks which I traded. Nowadays my best trades are based on momentum which I'm in and out in a day to a couple of days. I feel that it keeps stress to a minimum for me and I make sufficient profits to not be bothered by the trend going sideways or reversing. I usually don't reverse my trades which means I'm fighting with just one hand so till the day I can reverse my trades with ease and confidence would be the day that I've nailed trading!

Now the problem is that momentum trades aren't available everyday or at least I'm not good enough to spot them on a regular basis such that I can make a living out of it so I'm still researching to see whether I can mix momentum trading with trend reversal trading to get the best possible results as well as have more frequent trading opportunities. I've done one trade based on this mix and it was successful so I would continue to see how things goes. 

Saturday, June 25, 2016


I'm surprised that Brexit happened... I thought like most other people that they wouldn't have the guts to exit the EU. But then again, you gotta admit that Brexit sounds a whole lot sexier, trendy and catchy than Bremain which sounds like spoilt bread. 

I think the ordinary Brits have spoken as they are probably displeased with the way their country has become. I read with interest and horror from a recent article in Cosmo UK that hutching is how young people are surviving the ridiculous rents in central London. I think immigration is also a hot button issue and perhaps that's why outside of London, there were many votes for Brexit.

I was laughing my head off with some of the other names that were given for other EU nations should they choose to exit the EU and boy are these people creative or what! My personal faves are Czechout and Byegium although funnily they have yet to come out with suitable ones for France and Germany. 

I wanted to buy some British stocks yesterday but by the time market closed, it had gone up by more than 2% although it was down by about the same amount when market opened. I think the intraday traders were the happiest lot yesterday. This coming week, I would be looking out for opportunities in the market as well as considering a holiday to London given the weaker sterling. 

I did make some good money in the weeks before Brexit so I didn't execute any trades yesterday. But maybe I wouldn't be too late so this coming week could either be busy or very relaxing...I'm not sure yet since this is probably one of the most exciting times in the stock market in recent years.