====Recent Activites=====
Fed Reserve held an emergancy meeting on tuesday and announce a 0.75% cut on the interests rate. Together with the simulus package, Asian Market rallied to ridiculous height where we see HSI rebounded strongly from a low of 21709.63 on tueday to a high of 24,966.17 on thursday ( wide range of 3256.54) and STI recovered to a high of 3050 from 2746( 300 points range). During this 3 days, I saw heavy volatilies on the indexes which are swinging like a roller coasters. Many professional full time traders benefits from such volatilities.
====Jeopardizing Myself====
Again not learning my mistakes - seeing fellows traders share their wonderful profitting encounters has planted in seeds of desires to be like them earning back monday losses. I traded blindly this time and got myself into troubles again... YZJ - realised another 180 of losses as i buy high and sell low once more.... as i read through a possible bad news from our US counterparts data.
YZJ - I am condamning this stock now.... everytime i trade this counter I made losses ( 3 trades up to date mounting -1630.56 on this counter alone)
So far all 95% my losses are attributed by contra trades.... (contitutes by trading on emotions, envy, greed, temptation and stock chasing). My desire to get profits has jeopardize me and my plans. I never learn my mistakes even though I know them. I have no one to blame but myself and is getting rather sick to blame myself.
I REALLY REALLY have to stop looking the the live prices and perhaps block myself from communicating with others....
Procceeding ahead -
1) Restructure my personal finance... my last two trades has inflicted $740 damages to my saving cum expenses( had intend to put them in MMF to grow...) Life's going to be really tough ahead for me as I have to live more fragully keeping track on my expenses.
2) Need to heed fellow blogger LP's advise to keep 6 mths of expenses aside... Also need to heel mentor advices on reading up more and not get myself 100% vested. (Both had thought me alot but i failed to applied...)
3) Been too slothful on learning and my mind is always pre-occupied with other stuffs... Need to get those sorted out as well.
4) Stay out of the market for the time being....
Thursday, January 24, 2008
2008 second trade
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1 comments:
hi noob,
sorry to hear about your latest trade...
But i'm glad that at least now, can see you're more determined not to commit the same mistakes again. Sometimes tuition fee didn't pay enough, will need to pay more before you learn.
For pt 1, you really need to learn more about financial planning. Trading is good, but make sure you keep it to within a limit. Personally i think you shouldn't trade so often...i stopped my trading and saw my profits increased tremendously. I used to do like 30-40 trades per month, but I didn't see my profits increase...in fact the more i trade the more i lose. I then realised that perhaps, my TA skills are not that fantastic to be able to do become a day trader.
For pt 3, learn first, then earn later. Really need to read up and read up. But after reading, be careful too. Because last time, after I read up, I thought I'm yaya papaya, so smart already, then go and trade more...lose even more.
If you don't know the value of money, try drawing out $740 in 10 dollar note. Count it, feel it and smell it. Hold it in your hands and realise how thick that stack of notes is. I realised that for guys, very funny...if you buy at thing for 740 bucks you think twice, think thrice then go research before buying. But buy stocks...pple say buy we go buy without even knowing what is happening. I can never understand it.
Take care noob! Dun give up!
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