Conversation

====A chat with my friend/mentor====

My friend cum mentor ask me how's my warrant and replied as usual another loss and that I could reduce my losses if I had not rush to sell earlier. And he told me it's better to earn then to lose... (who will like to lose money? duhz)... I then replied it is difficult to earn from the market... and he answered that it is difficult to earn in this market...

I then say I aspire to be like him can earn from most market conditions and grumped about my hugh losses and state about my weak emotions in trading. He highlighted to me that it may be my analysis instead of emotions... and note me on there is there is no such things as quick profits.

He then ask for my Observation, where I answered STI hovering around support lvl of 3670 and seems like consolidating at that level and later jio me to join another course where I decline as I am utterly out of cash and tell him to teach me after he attended.. He then tell me the system is good, wanna to learn must learn from the best... and mentioned that the fees is cheaper then what I attended before.

I answered that the system may not be suitable for me as its for pro trader who have the luxury to trade on a full time basis. Futhermore attending the course now is useless to me as I do not have the lifeline to trade futher... Another thing I observed from the system is one has to be nimble in the trades and I personally find that (e.g STI warrants) it may require a hugh caps in order to beat the transaction fees.

My friend/mentor then state that i am lack of confidence... and I response in an anguish mind to him how to be confident when my portfolio is down 21 percent...

Then he went along pointing the pros of the system like short term swing play and that TA is about entry and exit where I highlight on the cons that it requires a strict cut loss discipline and in my states, I cannot bear to cut further losses.... (one mininal loss- transaction fees will be from 54-60).

I then go on to state that both of us begun differently(He - FA, Me - TA) and have different track records. He has made consistant profits while I made the latter, consistant losses and that is a hugh difference. He mention that he dun speculate like me, I think he does speculate some times though and say my downfall is due to greed.

I then reasoned with him that I do stock chase due to the fact that it acted on my anticipation and gave me an assurance to buy because when I buy a stock with same analyse, it just goes down... and then he say I have committed all the taboos in trading....

Personally, I do not think that I am greedy (as i always cut my profits) but is just anxious in recovering my capital...

Now with a mountain of losses and no lifeline avaiable, I am deeply despair and felt that all the efforts I have put in does not pay off at all... this makes me severely sick of the market...