Babypips
Good thing we now have guide sites like Babypips to introduce Forex trading to newbies. I was amazed with the curriculum and vast content of the site. The humor embedded in the training materials also kept me interested (di ako inantok!). I read the whole Preschool portion, skipped Kinder to Summer School, read a portion of Highschool and Undergraduate then Graduation. Haha!
FOREX vs NYSE (ang laki mo forex! di nyo na makita si PSE kasi kuto sya ni NYSE. mwaahahahaha)
On Hold
I’ll be putting this fund on hold while I master the world of forex trading. My only position is SMC with a very long term hold. Good luck on your trades!
All That Matters
As you know, I lost +16% of profits last month. See details here.
At first, I was really frustrated and heart broken; but I eventually realized that I need to work on what I have now. I let go of the past and started to trade with the real money I have because it is all that matters right now.
Remember that clinging to one’s past fund value may lead to costly blunders and further ruin.
January 2011
It was a bloody January for my portfolio. It was up 5% during the first week; 16% during the peak; it ended up -0.81% as of today. Ouch!!!! $#%$#%$#%#. My stars eventually turned on me and gave me headache.
SMC and PNX are freaking costly mistakes. The illustration here best describes my trading with these stocks in the past two weeks. Instead of risking 1%, I used 12% and 5% risks. Talk about overconfidence.
Lessons Learned:
1. Always follow my rules
2. Do NOT buy the dips
3. Risk only 1% of fund for single trades
4. Do NOT chase stock prices during OPEN
5. Always respect the market
Inception Date: Nov 22, Since Inception: 10.74%, YTD: -0.81%, 1Mo: -0.81%
Dr Jeckyll and Mr Hyde
Did you get shaken out of Meralco today?
A shakeout happens when big players intentionally drive the stock price down (Mr Hyde) for various reasons. This event is usually followed by sudden price increase (Dr Jeckyll) because price always goes back in line with economics of demand and supply.
How do you handle the strange case of Dr Jeckyll and Mr Hyde? Use the “wide stop” potion to protect your position. Be patient with your trade but be disciplined to cut loss if necessary.
Howard Lederer – On Poker And Trading The Markets
It’s not about winning huge pots. It’s about losing less when you lose and winning more when you win.
Dead Cat Bounce
Is this the start of a reversal of the downward trend? Or did we just experience a small, brief recovery of prices today after a series of red?
This pussycat is the type you don’t bring home to your momma!
Drop It Like It’s Hot
January was fantastic in the beginning, now it looks dramatic. Foreigns are dropping PSE stocks like its one hot potato.
I don’t know for sure how far the PSE market will go down so I’m focusing in protecting my capital. I’ll just monitor the market tomorrow; my system didn’t generate a buy signal in any of the PSE stocks.
PS – This cartoon guy didn’t reach his target monthly return before the drop. How about you? Did you meet your target return for the month?
Turtle Capital 