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i wish there was a chat room.. or something like msn. I have no idea what's happening right now though i know that koreans are hiking interest rates but the main thing seems to be china's interest rate policy.. hai

 

i dunno. i base my information on news and charting .. hmm .. i think it was on due on course for a correction.. but due to all these factors coming into play ... it blew up into something more then a correction.. I'm tracking amex, nyse and nasdaq companies now.. i will keep you guys updated before i sleep ... i wish there was an easier to way to communicate rather than forum posting. 

 

wow.. i have nothing to say. China doesn't seem to want to announce its stand on interest rates and the market is going down like no tomorrow. Is this even a healthy correction? I have a feeling we going to be in for a hell of a ride on thursday... omg

 

anyone still awake? i'm tracking eur/usd now.. and commods.. anyone wanna discuss issues? 

 

hello all.. still here.. studying now hahaha ... yeah .. i think it'd be safe to say my prediction of a short rebound consolidation of yesterday followed by a huge ass drop to MA50 was accurate.. the signs has been confirmed... Going from here, i really dunno anymore.. i think thursday see how big the gap... well .. for those who sold .. congratz.. for those who didn't and have to hold and settle on friday .. start praying.. honestly. 

 

U.S. Stocks Drop on Concern About China Growth, Ireland Debt

Ireland Debt is a big issue for now.......  see how the bubble burst  :(

 

 

Dow drops 200 point almost..
uncertainity drives fear , useful weapon to force sell...

QE comes out...US thought they can win by mass supply of its currency...n reduce the trade deficits...

but, they forgot...China has equally fatal weapon which is called interest rate.

Funny thing that you can observe: since the rumour of increasing China interest rate comes out...
the following changes in the market:

a) commodities price drop

b) US treasury yeild rally ( borrowing cost hike) & who hold tone of  US T-bill? make a guess.

http://money.cnn.com/2010/11/16/markets/bondcenter/treasuries/index.htm

who benefits from (a) & (b)? answer is obvious --> China

Gracia...
the market will only stable after China declare the interest rate ...

the faster the better...as more time will be given for the market to digest...

(why China takes so long decide? hmm...yes i know its economy is freaky big.however, the slower it takes...the more down fall on Commodities prices and more Up on T bill yield- just my wild guess)

ciaos...

Gaecia      ( Date: 17-Nov-2010 00:54) Posted:   u all must be in bed... i'm the only one sounding the big gong. As of now 12.50am spore time DJIA 11,000 has been breached, boy i cannot bring myself to watch it anymore... ;o the democrats plunge protection team hav to stabilise nyse!!

 

 

its freakin scary.

 

US down more than 200pts....

 

 

u all must be in bed... i'm the only one sounding the big gong. As of now 12.50am spore time DJIA 11,000 has been breached, boy i cannot bring myself to watch it anymore... ;o

the democrats plunge protection team hav to stabilise nyse!!

 

 

 

Bullish, you around? Its been quite a change of tide since you went on vacation. This market has been hounding for bear tack everyday u noe, or am i hearing it wrong? 

I still hav long positions on gsp, its been nothing sort of nerve wracking.. tomato, dun think BT will respond maybe can u answ me k

 

Happy Holidays!! See you on Thursday!

Gaecia      ( Date: 16-Nov-2010 23:47) Posted: ya cannotfind, we hav watched the US sending signals for many consecutive days since last wk. Prior to QE2 announcement there was nary a borderline day, many big gain days. As to how long this bull can run, wall street bankers hav all the answers. DJIA 11,000 is an impt support. Be led by the price actions that u see, not blinded by the assumption of trend continuation. TA investment approach is good to follow but be quick to bail when mkt direction violates all technical analysis. In a bull market there is little resistance, in a bear market there is little support. cannotfind      ( Date: 16-Nov-2010 23:03) Posted: US down > 100 pts. Tomorrow SGX close. If US down again tomorrow, eeeeeeekkkkkkkkkk

 

ya cannotfind, we hav watched the US sending signals for many consecutive days since last wk. Prior to QE2 announcement there was nary a borderline day, many big gain days. As to how long this bull can run, wall street bankers hav all the answers. DJIA 11,000 is an impt support.

Be led by the price actions that u see, not blinded by the assumption of trend continuation. TA investment approach is good to follow but be quick to bail when mkt direction violates all technical analysis.

In a bull market there is little resistance, in a bear market there is little support.

cannotfind      ( Date: 16-Nov-2010 23:03) Posted: US down > 100 pts. Tomorrow SGX close. If US down again tomorrow, eeeeeeekkkkkkkkkk

 

US down > 100 pts. Tomorrow SGX close. If US down again tomorrow, eeeeeeekkkkkkkkkk

 

Hi all,

Remember BT's diversified portfolio comprise commodities, bank, gaming, property and SHIPPING.

I am looking at Yang Zi Jiang (shipping). Please take a look at the chart.

1. In sideway trend now, resistance 2.05 ; support 1.85

2. Px approaching support 1.85

3. 1.85 support coincide with 50 MA and lowerr band of Bollinger

4. Stochastic approaching "oversold" region

Not bottom yet but almost.  So look out for trend reversal candlesticks for opportunity to LONG.

My trading plan:  

EP : 1.85

Cut Loss : 1.81 (abt 2.2%)

TP : 2.05 (by then look out for possible breakout, then TP will revise upwards)

Risk / Reward : 1 to 6 

Do your own analysis and develop yur own trading plan. Happy trading.  

 

off to study .. toodles and see you guys later when i settle down at the airport to study haha.. zzz 

 

Thanks Daniel for taking the time to pen down your lesson learnt. Very informative for a person like me who wants to be a successful trader. Will keep these points in my MIND.

In fact, before reading your forum,  I was reflectiing on my risk tolerance and work out some rules on my cut loss level and how many lots to buy per trade etc. I realised if I buy too much,  every jump against me will affect my emotion and my decision making. 

 

 

Leinadgnow      ( Date: 16-Nov-2010 21:23) Posted: Hi people.. i just wanted to say a few things that i think everyone should learn here as a trader .. full time or part time .... i know i have been focussing alot on technical analysis lately but i don't want to give you the wrong information or false information and thus, causing you your hard earn cash. I will write a small review here which i hope that it is understandable.. rather then continuing to give daily analysis on the charts, i feel that i should try to share whatever i know of the charts to you .. so that you can read it yourself and decide on the cause of action to take. I am not a teacher and i'm not here to teach anyone or change their way of trading.. If it's profitable to you.. please continue using your method.. if not, i want to share with you my thoughts and methods on trading and hope that you can learn something out of it. you cant find any holy grail here or any bible.. what is more important is for you work hard.. to put in the effort and to strive to trade to the best of your abilities.. otherwise... save your cash and don't trade if you intend to lose...   Without much further ado.. here i go..    Before you start each day trading. The golden rules. Understand that everyday is a different scenario in trading.. never are there two same things.. you can learn from historical charts.. but the market sentiments are very different. You HAVE to make a trading plan.and adjust them to suit your personality and your risk appetite and portfolio from time to time.. there is not one size fits all answers.  There is only one golden rule in trading and that is to protect ur capital. Do what ever it takes to protect your capital.Your profit will come if u can protect your capital . Let the market do what it wants to do.. just learn to follow your method and protect yourself. We dont know the outcome of each trade.Just ensure that your follow your setup. Trust ur method and follow it. Never change your method if it is profitable. No matter how small the amount is, it is still a profit and you are a winner. If you have to change your method, change yourself and the way you are thinking in order to adjust if you are losing money (that's the only reason why you should change your setup). If you are a beginner in the market, trade conservatively. Trade cash upfront and 10% of your portfolio to contra..Learn along the way and with minimal damage to your capital. Stick to something you know.. If you try to follow something you don't know.. most likely you will fail (Try asking a commercial pilot to fly an f-15 airplane) It's always your fault.. The market never lies.. the market never stops.. the tape doesn't give a shit about you . If you lose money.. it's because your strategy stinks and it's because you aren't efficient yet so don't stop trying and keep learning (with minimal risks of course) If you are trying a diffferent strategy.. use a different account so you can see which one is more effective. split up your portfoilo to see what works. Overconfidence kills.. pride kills, hope , fear , greed and ignorance kills. If you use indicators.. understand what the indicators are telling you. Trend is your best friend. Never try to fight the trend and call for a reverse without confirmation. Don't try to short the market when it is  going up .. or average down when it is still going down. After every trade clear your head. If u feel u have to get back the money u just lost, thats a big warning signal. Stop trading right that moment.shut the platform and do something else. Emotions has no place in successful trading. its always you who stands in the way of success.. no one else. If u feel lazy or sleepy dont trade.u dont need to trade every day. Trade only when u feel comfortable with ur mind and body condition. Before the trade always watch a few minutes of the market action.Watch the market for 10-15 mins .. get a feel of things.. where is it going.. the trend.. the movement.. upwards or downwards or sideways.. Most of the time the best decision is to stay side line. Dont over trade.and dont make trading complicated.the more u complicate trading,  the less u will follow your method. What moves the market? imbalance of supply and demand moves price. Price moves in trend . Trend moves in waves. Mostly two type of waves *impulsive waves and *corrective waves Different ways to trade the different waves (please read up for more of these waves.. i can't type everything here myself) Alot of my decision making is based on stochastics and RSI (thus all my posts includes stochastics) Why? because stochastics is simply demand and supply. the fundamental theorem of the market. When something is overbought.. it is sold.. and price goes down... (consolidation/corrective waves) .. When it is oversold.. people became to buy back at cheaper price thus jacking up the price higher ... Hence my arguments are based alot on stochastics as well as dd/ss. When trading!! PLACE THE STOP LOSS PROPERLY.. KNOW WHEN TO STOP LOSS.. YES, it's common to get stop out, but with only a small loss as compared to losing 10% of your portfolio! Price is the king! Price will tell us what's going to happen next and trading is simple.. all indicators are rubbish without the price action. So many times you don't know what is a price action.. or indicator.. When analyst say buy.. you buy.. when they say go short you sell.... You simply don't care what the price is telling you or the market is screaming out... I trade base on what the market tells me.. and that is price.. Please go and read up on price action .. it is everything! Timing is everything. We should trade base on what we see and not what we think. You should never trade without price confirmation. Learn your fibonacci. Learn your eliot wave. Learn your flag formation ... but all these are dependant on the price action.  so learn your price action. To succed you have to be discipline. This is not a game. Your lifestyle, family and food depends on it. Don't fool around. Keep your emotions in check and most importantly of all.. learn to be patient Patience is key to the right timing and entry point which is everything. No setup.. No trading for you. i read peoples behavior through the charts. with the charts will know most likely what the professional are gonna do next. we wont be right 100% thats why we need to use stop loss. Even if we only win 50%, we will still make money with proper money management. Your running trade runs and earns you 10%.. the next trade you lose.. and you set a stop loss at 3% .. you still earn 7%.... Remember.. The only time to not put a stop loss is NEVER.. don't run around naked.. you will get arrested.   Okay.. read this and implant it into your head now.. i will go into more details later on .. i need to go and study ... so please try to understand whatever i have said so far.. i will post this up on my blog www.diaryofsingaporetrader.blogspot.com .... and continue my posting both here and there..   Daniel.

 

i still got 5 lots vested in GAR. haha.

and 10 lots in GHK. see how thurs go. most likely empty everything this week. maybe the 7 years cycle just got shortened to 3years. and another crisis will start if after QE2 get pull plug.

Leinadgnow      ( Date: 16-Nov-2010 21:50) Posted: that's $24.50 btw for your fear.. your inability so eat shit work .. and your balls shrinking everytime u see the sell down coming and approaching. u know how hard for GAR to rise 0.3? that's 6xs of it's 0.005 increase.. 6 jumps bro..   IMHO i really think not worth it. but okay.. you wanna take the risk .. please do it small ..

 

that's $24.50 btw for your fear.. your inability so eat shit work .. and your balls shrinking everytime u see the sell down coming and approaching. u know how hard for GAR to rise 0.3? that's 6xs of it's 0.005 increase.. 6 jumps bro..

 

IMHO i really think not worth it. but okay.. you wanna take the risk .. please do it small ..

 

Ya ... set yourself a percentage loss cut and excecute it.. let the computer do it if you cant.. 

and on top of that... you yourself say.. economy risky but the charting shows GAR on a short rebound session.
Do you hear how outrageous that sounds? how contradictorary that sounds? it is risky.. but you are willing to take the risk for a SHORT rebound session? you are trading on the corrective wave.. and if it corrects again before you get out.. you're f**ked. The R/R is not there.. risk reward. You are just gambling.. charting is for confirmation of your feelings.. of your market feel and of  your gut instinct.. its not that there HOHO okay.. chart says this.. i do this.. you need to understand how the market works.. feel it.. ask yourself.. then confirm it with the charts...

 

Let's put it into perspective for you. 0.73 rise to 0.75.. max out 0.76. + 3.. thats saying u bought ur usual 15 lots. that's 450 dollars - commission both ways. that's about 350 dollars for you dear sir.. What if it drops from 0.73 - 0.70? that's 450 dollar loss + 100 dollars for the bank sir.. 550.. can you afford another 550 dollars? can you? you are taking the gamble which is not worth it.. 350/550 = 63% or rather, you are taking a 63% implied odds. And the rewards are not very big then again.. what's the probability it will rebound? 70%... 30% drop.. is your time.. effort.. loss of sleep.. eating and fear worth that 7%?


You are trading in a sense of every spread i must make.. every turn i must take... no one can catch everything!! what you need is to catch a super huge upsize with minimal downside to PROTECT  your capital .. PROTECT PROTECT PROTeCT .. the best offense is the best defence.