The Art Of Growing MoneyThe Art Of Growing MoneyWelcome to my trading journal! A place where I share my Psychology, Money Management & Trading system on trading shares in the Singapore Stock Market. Fellow shares enthusiasts are welcomed to share thoughts too. I hope my posts will be educational t 
Articles
Wicked twist
2009-01-11 04:24:00 If my memory did not fail me, the market had ignored alot of bad news last few weeks and edge higher. The news recently is full of job losses and more job cuts to come. In a typical theoretical market bottom, it is said that when the market is full of pessimism, that is where the bottom is. However, we must see a typical bottom action technically in the market inorder to supplement the above statement. That is, the market should trade in small bodied candles and form a good base amidst the extreme pessimism. What we are seeing now maybe a bear market rally. Right now, i could feel the market is starting to weigh in on the massive job losses that is going on around the globe.Alas, nothing has changed...the current graduating adults is facing what i was going through once... i remember that jobs were hard to come by and the recruit section was as thin as toilet paper. That is when i know, i cannot depend on employment... especially once we are into our 40s... the fear factor wi... More About: Wicked , Twist
A coin can stand on the edge afterall
2009-01-08 13:31:00 Remember last night i was saying head or tail, i still win. The difference is whether big profit or small. The only way i can lose is the coin stood on it's edge. This is exactly what threatens to happen. It is amazing how my watchlist is full of reds then only F&N is trading up!!! How to explain this phenomenon? It's like market purposely want to squeeze me... well, if you are new to trading, Welcome to Trading... haha The best part is HSI keeps going lower and lower while F&N go higher and higher.. For the record, i am long hsi and short F&N... My view is market to be firm and trade higher to CNY. Hence the F&N is actually a hedge for my HSI long. My position is bigger in F&N and a small one in HSI. My plan was to accumulate HSI for CNY celebrations.The last line of defence will be 13,800 thereabts... if HSI breaks that.. be prepared to see a breakdown. From where we close, it is just another 600 points away. Hence if even this level fails to ho... More About: The Edge , Edge , Stand , Coin
How much is an idea worth
2009-01-07 14:43:00 Alas i see profit in 2009!! I was rueing at how stupid i am to be so cautious until i totally miss the run-up in the beginning of the year. Inconsolable... even at the traders club meeting..my group can sense my emotion as i share on T.A... passion comes from within and i can't hide my emotions especially when i am not making money. I feel the pain of missing on opportunities more painful than having to cut loss. I'm serious! And today i met a friend whom i haven't seen for a long time and even she can tell from my face that i am not feeling well.. hahaha I guess she is reading this! :DThis morning just before i went for my meeting, i went to short F&N. This stock was the top pick along with Noble during last night's traders club meeting. Whether you are from 2006's "Cracking the stock market code" or 2007's "ChartNexus Technical Analysis Course" or the recent "Super Bundle" clients, the meeting's output is available at ChartNexus's forum here >>> http://www.cha... More About: Idea , Worth
20 Jan 2009 <<< Mark this week!
2009-01-05 15:34:00 Wah~~~ STI leads global market in rally leh! haha 5%!!! HSI only managed only 3%... The only reason i can think of is Singapore's budget day which is on the 22nd Jan. Mark et generally will be firm leading to the budget day. To trade this calendar date, one have to observe if there is any significant movement just before the budget day as sometimes market reacts earlier to the actual details... and do not forget the sell on news effect. Let us not forget Obama will take office also during that week. Now more interestingly, according to bradley, there is a major turn date also during that week! haha Looks like 3 weeks from now we may have an important pivoting point in the stock market. This rally may take us past 2k.After looking at my volume screening rule, I can see that a number of stocks already failed at 100 DMA. But a good majority of them still have some distance before this significant resistance. Ideally, broadbase market should turn right here. When i say turn, ... More About: Week
Big start to 2009; How to ambush hang seng
2009-01-04 10:11:00 What a roaring start to 2009 as we see major markets rally big time and most stocks are green green on the watchlist. But I did not benefited from the run-up on Friday. The green green market make me green with envy.. at this point in time, i had to ask myself, what did i miss? How come i miss it. If i travel back in time, would i have done the same.... answer is probably yes. Results were bad, econ numbers coming in were bad. What basis can the market rally upon? If anything, only window dressing can be the only answer. If so, then we should watch out for selling because window dressing at most last a week as far as i can remember, sometimes it only last a few days... the important thing to observe going forward will be the weak candles after the recent run-up.Now those stuffs i missed:1. Market didn't go lower on any bad news2. The risk/reward of going long is pretty3. Properties & the Financials were trading at their higher low support after the last round of rally.4.... More About: Start , Hang , Ambush , Hang Seng
Offshore, Props & Banks
2009-01-01 16:11:00 Orite.. 2008 is over! Get ready for 2009! First of all, tomorrow my eyes will be on props, banks and offshore! These are the 3 sectors that will keep me occupied for the first few trading sessions. The stuffs i am observing is whether Offshore will break the last high, banks and props are forming a base? Ok, i'm not saying the rest of the sectors won't move... what i'm pretty confident is, if the 3 sectors moved, it means the market is poised to head higher and thus other sectors may be dagged along.Hang Seng's A-triangle is looking more and more potential... however i still feel tomorrow's session will be another thin session since traders may take the long weekend.. Nevertheless, it's better we watch it incase it runs away.After nearly 2 weeks of thin trades, we are ready to burst into a direction... To benefit from this, i would be looking at index stocks instead of mid cap. The reason is simple, index is the one being dressed. I remember how i used to curse and swe... More About: Banks
Offshore sails again
2008-12-30 15:25:00 Offshore stocks moved again... Interesting... time for me to look at banks and properties.. Remember I did mentioned about sector rotation? It seems like the market may be taking turns to rotate.. The only thing i am cautious about is that the primary trend is a down trend and we ought to pay attention to those resistances overhead. Frankly speaking... i am not really interested in turning long on stocks based on the fundamentals. Hence as of now, even if i have to buy, i won't load up heavy on long positions prefering to be cautious. This is because when the trend turns, it turns very fast these days.As shared in a blog entry earlier in the month, if i see offshore moves, it may mean the market may head higher. Things i want to see happen, offshore companies break their highs and this is where i will look into property and bank sector for opportunities. Otherwise looking at other sector may not have the right gearing effect.Volume is slowly creeping higher from 200 million t... More About: Offshore
Updates on market directions
2008-12-28 06:48:00 The trading volume of the past 2 sessions were light due to the holidays. Any activities on the charts should be ignored. If chart formations is of any use, you should see plenty around. The volume characteristic is very convincing... was it coincidence that the light volume can be attributed to the festive season? Check out the few index charts that i am following:Hang Seng Index: The ascending triangle pattern is taking form and I should not miss the breakout if it happens. We all know China is working very hard to pump up the economy and boy do they have money... although what they are doing may not immediately solve all the problems, but, it is how market respond to the news/actions by the government in the immediate time frame that matters to me. If the uptrend support cracks, then those 2 previous lows maybe where we can go long.As for Dow, KLSE, SGX, really... there isn't much to observe about. Even the small pennant on STI is only good as a warning. It is too small... More About: Market , Updates , Directions
Takeaways from Traders Club
2008-12-25 15:07:00 I closed my positions on StraitsAsia as well as Yanlord after they both hit my profit targets and didn't go down further. Hence i'm on the hunt for the next profitable opportunity. At the Traders Club Christmas Party... we went through the following observations, STI has a bearish pennant, Offshore seems to be supported... and of all the banks, OCBC has the best risk/reward... Cosco & KS energy looks to be forming a base... Guys, it isn't the stock picks that made Traders club a must-attend event... it is the how to analyse that is more important and valuable. Just like what i told a prospect... he told me no money, win first then attend training... a friend of mine R said the same thing... The customer after hearing just one important sentence from me, became a customer. How many more thousands are u going to lose before you give up? He got stuned... he must be thinking, how come i knew... of course i knew! i have been through it myself. If you don't know something,...
The loving feeling....
2008-12-23 17:40:00 Ah.... the loving feeling is back.. the sweet profit from HSI sent me to cloud nine... my patience paid off handsomely when it went down to more than 1000 points in 2 days. Ahh... the last time i had a wonderful time trading HSI was in 2006.... back then i was using warrants and this time round, i used CFD which is a better instrument to use than warrants. This is because using warrants, we need to pay attention to strike price, premium, theta and delta... CFD simply bet up or down.Since the trading week is short, i shan't increase my position in stocks. Rather, i may look to long or short on the index for the immediate term. My screening reveals that the volume traded today is still very light. Even in the forex market, currencies are moving in a tight range... this is almost the last week of the year, perhaps many traders have closed book for the year. Watch what happens after Christmas... it should set the tone for the last week of the year and any spillover to January sho... More About: Loving , Feeling
DBS Scare
2008-12-22 15:50:00 The rights issue by DBS inflicted damage to the morale. The worse part is i just blew away my position because of the sudden trading halt. Remember i was beoing DBS at $9... my sell stop has been there getting ready for such a day... mana zai, shortly after lunch, i was told DBS issue rights and the stock price has plunged. I logged on and thought this time tua ho say... i remembered telling myself not to be greedy and must cover back because for CFD, i ain't sure about the implication from a rights issue. HOWEVER!!! by the time i logged on, my buy stop was triggered and the system had taken my loss on DBS when it trades higher after the gap down. What a big disppointment otherwise it was a great day for me!My shorts swing into profits with HSI leading the way with a 500 points tank. When i saw capitaland tanks, i think i am more than right about the direction of the market and procastinated on adding to my shorts. I hold back. This is a short trading week and volume is ex...
Automobile's rescue plan priced in
2008-12-21 10:03:00 Alot of us may have forgotten that after the senate rejected the bailout for the big 3, bush already came out and said he will do his best to save them. The market first tanked after news leaked out about how the big 3 may run out of cash. Then bush's assurance came and that saved the bulls. I know because i was short the market... maddening!! hahaha Hence last Friday's rescue plan didn't send the market into a rally.... i could understand why. Just look at the news, isn't it easy? When market goes up, it will give bullish reasons, when it comes down, it will say market again focuses on economic woes. As a friend of mine put it.... financial world is actually an illusion, you choose to see what you want to see.... hahahaAt closing on Friday, i added Yanlord short after I spotted the shooting star on the daily chart as well as resisted by the 100-day MA. My opinion of a weak closing was right and thus i follow through with my plan. Anyway a screen by XPertTrader reveale... More About: Rescue , Plan
Properties back in favour
2008-12-18 15:09:00 Properties counters staged a strong rally today. However not all of them has got good volume. Fundamentals are still bad without saying... but technically indeed they were attractive... attractive to short! haha Many of them broke out of resistance...but they are close to MA resistances. Then when to long? AT THE RETRACEMENT! In a bullish trend, they are called retracement, otherwise it;s called reversal... just got to be patience and keep observing. Look? who cares if you can buy at rock bottom? This is not how the game is played. I never got Cosco at below $1... i got it at $1.31 and rode it to $3++ .... I didn't get Swiber less than $1... infact i bought at $1.23 and rode it all the way to $3++ It's the direction that i am more obsessed with. For i know, once the direction is clear... it's easy to make money! Those who gave up and think they come back when the trend returns often gets in too late....and lose all the money when the trend turns against them... those... More About: Back , Properties
Market lukewarm to Ben's cut
2008-12-17 16:41:00 Dow overnight jubilant closing failed to inspire Asia. Now, what i am most frustrating about is how goldman and JPMorgan failed to drag market lower. They reported losses! Again CPI data came in worse than expected. Yet market remains non-chalent to these... Ben has cut more than expected and market responded... or did it. If we look at Asia today, we opened up... then drift lower as thoughts about profit taking tonight prompted traders to book profits. However Nikkei and HSI closed higher in the afternoon.... ahh... always good to see market close higher at closing.. For me, step A has happened, that is Ben's cut rate, it should spur market on... however it didn't today, so instead of B happening, C is likely to happen.. C would be a pull back. To see pull back, i need to observe if broadbased stocks are coming off their resistances... i know many bank shares are off their highs.. hence if i start seeing one by one they start to appear... *dang dang dang*YanLord: Bottomed... More About: Market
"Did you sell StraitsAsia?"
2008-12-15 15:52:00 Concerned friends checked with me, did i sell my StraitsAsia. Of course not, i intend to stick to my game plan. How can someone keep changing plans from day to day? What i am eyeing is significant levels. How market trades at significant levels will tell me where is the market likely to head towards. I have seen friends who trade in and out very frequently and often because the tide changes intra-day or from day to day. This type of trading will result in many small wins.... but 1 lose is good enough to wipe out those small wins. Got to think in longer time frame man. Anyway, tuesday will see Ben meeting.. i shall keep to my short on StraitsAsia and wait to see how the market reacts to the outcome.GrowMoney QuickpicksCT1-short KS energyDISCLAIMER: The contents in this website are for fun reading and must not be taken as a buy or sell advice. You must do your own analysis on top of my postings. By reading this blog, you agreed that i am not responsible for your trading. More About: Sell
Dow refuses to head lower
2008-12-14 10:01:00 Much to my dismay, Dow had refused to head lower. I had to cover my Dow short before i went to bed when govt came out to assure investors that they will find another alternative to save the auto mobile industry. Actually, it is better they save it as the implication may be worsed than lehmann. What about Madoff? Simply amazing.... I wonder how many rich people will be affected. If there are any implications to the economy? The econs numbers last week was as i anticipated... BAD. Hence i shorted... but once again, the resilience of the bulls saved the day as we close higher from lower. In theory, this is a text book market bottom where market ignores the bad news. But how far can this rally runs? Actually i give it 3-month shelf life or the 50-day MA or 100-day MA whichever comes first. After the third month i will turn cautious. Otherwise, i will be eyeing those resistance levels. Fed's meeting on Tuesday may be why the market is holding up. Currencies are breaking recent highs and... More About: Head , Lower
My trading plan going forward is to ...
2008-12-11 17:13:00 Finally intra-week weakness. The STI closed lower than open. It is time for the retracement to happen. However as it is Friday tomorrow, if it closed too ugly, well, the bullish rally may be over. Friday night will have alot of data coming out from the US. It may become a reason to sell down. Asia closing may provide clue. For now, i will initiate a short position first if the market is weak tomorrow. STI is hitting into 50-day resistance. We have yet cross the all important 1917 level. If the pull back is shallow, it means it's a healthy retracement. But of course we need to study the broadbase market and see are they trading at support or resistance. These are important clues. The XPertTrader rule i'm using to screen for this important clue is the volume rule i created since 2006. I used to call it the sentiment screen back in those days.I seen a big jump in blog visitors since i returned to active sharing. Welcome back my friends! : ) I will try my best to contribute and hopefu... More About: Trading , Plan , Forward
Who let the BULL out?
2008-12-10 14:51:00 In chinese i would have called it ????! Wah... I was speechless by the power of the bull that hit Asian market. Dow slammed lower but Asia opened weak and then the bulls took over and drive us to close high. Beautiful and this bullishness has not been seen for months. As beautiful as it is, i wasn't part of the party as i have no long position. Infact i just cut my Capitaland yesterday and then had to scramble to take my profit on the AscendasReits short. With STI taking out the previous high, it's a very positive sign. However, pretty disappointed that the intra-week weakness was not present. Looks like dips in the morning is a good chance to buy already.The transition period from bear to sideway to bull may be here. The next sell signal will be a tell tale sign. The plan is, if the stock doesn't goes down, it is a healthy retracement in an uptrend.DISCLAIMER: The contents in this website are for fun reading and must not be taken as a buy or sell advice. You must do you... More About: Bull
Technical Ascending Triangle on Hang Seng Index
2008-12-10 05:55:00 Hang Seng Index : ADX showing change of trend, if little green line ticks up upon breakout of resistance, it may signal an ascending triangle breakout.... S-shares where are u!!!!DISCLAIMER: The contents in this website are for fun reading and must not be taken as a buy or sell advice. You must do your own analysis on top of my postings. By reading this blog, you agreed that i am not responsible for your trading. More About: Technical , Hang , Triangle , Hang Seng
Burning questions answered
2008-12-09 16:58:00 Today i shall share answers to the burning questions on my recent trades because i have at least 3 friends who asked the same questions. So I thought i might as well share why i did what i done.Capitaland: Firstly i must admit my entry price was a big big mistake. If you look at the chart, i was buying in the middle of resistance and support. From general market movement, the possibility of breaking to the downside wasn't great, hence my view was Capitaland's support should hold. Hence i hold onto Capitaland and went short Ascendas reits, SIA engrg and Amazon Inc. Today Capitaland went up and was within 5 cents to my entry at 2.74 but SIA engrg and Amazon stop loss were triggered. Only Ascendas reits went lower near closing. With 30 mins to closing, I close my capitaland position for a loss and keep my ascendas short. Question number 1, why did I square off my long position despite the possibility of the market may head higher? The primary reason being, I didn't get Capi... More About: Questions , Burning
Market heads higher despite bad numbers
2008-12-08 04:26:00 A worse than expected job losses shook the market during the early trading hours but as the clock winds down, it made a spectacular U-turn to close higher. The support at 8150 hold ground. I was all ready to short more should we close below this level... I guess the automobile bail out gave some hope that most of the jobs will be saved. 8834 will be my next resistance...with a view of a stronger resistance at the round number 9k. Looking at HSI, 15,200 to 15,800 level is where i will pick my fight. This is the resistance in which i shall wait patiently for a CS reversal. I am using daily chart here. Should HSI turns bullish or bearish from this point for a Christmas selldown or rally, the banks or insurance companies should move in tandem... using CFDs, my options are unlimited. As for STI, as wierd as it looked, the whole week we were actually trading in a very tight range. It seems to me like something is going to happen soon. There could be more positives than negatives... More About: Market , Numbers , Higher , Heads
SGX Growmoney quickpicks
2008-12-05 01:01:00 SGX Growmoney quickpicksRaffles educationSIA Engrg Co.DBSThe above stocks may be interesting to watch today. With the ang mo platform, it becomes easy to just enter sell stops and buy stops. haha then can work in peace. DISCLAIMER: The contents in this website are for fun reading and must not be taken as a buy or sell advice. You must do your own analysis on top of my postings. By reading this blog, you agreed that i am not responsible for your trading.
Technically the stock charts look weak
2008-12-04 16:02:00 HL Asia is the only stock that came out from the course strategy screening tonight. But looking at risk/reward, it doesn't favour a short. Hence i am going to give it a miss. I do hope the course graduates can also see that the risk/reward to short HL Asia is poor and thus give it a miss. My main worry is due to greed some of them may just short without considering risk/reward. Screener only picks up technical buy/sell signals, the risk/reward have to be assessed by the trader.AscendasReits which was picked up by the screening two nights ago came down and closed at the last low of 1.16. From the volume traded, it looks likely that this level will be broken tomorrow and technically we can add to position.Capitaland is fast becoming a high alert in my head. Somehow it felt like an alarm is going off inside the head. I have to becareful here incase it turns out to be a Descending triangle. How do i get out of this shit? One of the option i am seriously considering is to somersault my ... More About: Stock , Charts
A peek into US Market Stock picks
2008-12-04 09:47:00 6 hours to market open and from the XPertTrader screening results, i have the following stocks under microscope. My last trade on amazon triggered stop loss. Dow unexpectedly rally despite bad data. Nevertheless, tonight i'm working overtime again to grow money.CT1-Long StrategyTHSHRLTT1-Short StrategyIBKRDISCLAIMER: The contents in this website are for fun reading and must not be taken as a buy or sell advice. You must do your own analysis on top of my postings. By reading this blog, you agreed that i am not responsible for your trading. More About: Market , Stock Picks , Stock , Peek
Crawling my way out of the rut
2008-12-03 14:42:00 This week is supposed to be volatile due to lots of data coming out from the US. A quick check on the Dow revealed that the there was a bullish divergence in macd histogram and this tells me that there is a possible rally coming up. The 600 points drop on Monday is as bearish as it seems but i do not rule out the fact that a bottom is being hammered out. If we don't go test the November low, chances are we break above 9k in December. I see RSI is going to challenge the resistance soon. I will be observing that and use that as an indication of where is the likely direction.I wrote about how i got into a losing streak after my holidays. How do i deal with this morale dampening moment? My plan is to trade smaller size than usual. This serve 2 purposes, number 1, i can slowly gain back my momentum and increase the size when the winning streak begins. Number 2, if i continue on this losing streak, i won't hurt my capital. To stop trading totally is avoiding... which to me is the loser ... More About: Crawling
A loser speaks
2008-12-01 14:30:00 Look this way if you want to see how a loser is throwing money away in the stock market. Capland looked destined to be my third consecutive loss since i came back from my holidays. Though small, i don't like to lose. It made me look stupid and not respecting money. Though i know i have the ability to win, but i am human afterall.... sometimes just need to bitch about it. I recalled reading some trading books, where they talk about a bad stretch of losses is common to any trader, i think i have hit onto one. Just when i am so motivated to create wealth and abundance, i hit into this barren spell.The worse part is, while i am undergoing this bad spell of "gong tao", I just had a little disagreement with my significant other. I shall spill the beans right here, let's see when she will ever discover this post and ask me to remove. haha Now, it all started because of choosing holidays pictures to develop and file nicely in a photo album. Sound silly isn't it to start a little ... More About: Loser
Market bottoming in progress?
2008-11-30 03:47:00 Once again, market didn't go down further. Bad news didn't manage to flip the market over. The most important thing is higher low stood the test. With the negative DI coming down and positive DI trickling up, i would be anticipating a bullish crossover. The race is on between MAcD centerline crossover and adx bullish crossover. However, it must be noted that indicators are slower. That's why I am keen to observe how the resistance level holds up. Currently 20-day moving average is flattened and may offer some form of resistance. Another keen level is 1916. Bottoming evidences are surfacing through support and declining volume. But plenty of overhead resistances, hence the road to north will not be easy. Every resistance is still a short to me. Because the 20-day MA has flattened, shortists should watch out for a change in trend.I started a small long position in capitaland with the view that we may visit the resistance level at 3.27. Since the price is far away from nor... More About: Market , Progress
Outlook on STI
2008-11-23 15:50:00 Let us begin this week with an outlook on STI. We all know government is coming out with plans to help us during this challenging times. Even the budget day was brought forward to January. Very swift actions. However, it is what happens in the US that counts. We are still going to be heavily influence by the market big boys like HSI, Nikkei and the cursed Dow. Back to the chart, the week ended with a bullish engulfing pattern upon Friday's closing. However there is still nothing much to cheer about on the weekly chart. Resistance level i will be watching is 1916 and the 20-day moving average. So no actions from me till I see how market trades at that level. It is important to see individual stock at their resistances level too. The double bottom on the STI looks to be happening. I like the volume behaviour and all i need is the right wing of the "W". On top of that, alot of stocks has higher low... a good sign.. maybe the relief rally which many have been hoping for is here.As for ... More About: Outlook
StraitsAsia broke major low
2008-11-09 16:25:00 I'm back! It always feel nice to take a break. This time round i was totally cut off from the market plus my handphone was turned off! :D This retreat is badly needed... This is what i have done, i registered myself and wife to a 3 day motivational seminar first before we head for the holidays. It's highly important for the significant other to understand what we are doing. Trading is unlike other profession. Sometimes we thread by the fine line of sanity. So here i am after 14 days of rest, i'm back. This time i came back with an objective. I think some time ago i blogged about how i lose interest in trading and it was a chore. Basically my short term objectives were met and i have no longer term objectives, or at least i wasn't clear. Now i have set myself new targets! I am going to read aloud my objectives in my study room, paste them infront of my 2 monitors! hooooya! Before i sleep, i will keep repeating my objectives until i drift into my dreams.... morning when i wake up,... More About: Major
News is out, Obama wins, Sell on news?
More articles from this author:2008-11-05 14:37:00 The market rebound for the sixth day and we are right at resistance. Infact alot of stocks are near resistance. This was the sign i'm looking for to open new short position and thus i chosen Cosco for a start. Actually I am going for a 12-day holiday from Friday onwards and it is to my best interest not to take any more position. However, i hate to miss opportunities as today, the market is at this wonderful pivotal point and the risk reward is good. October was a bad month for global market, however i made substantial profits from the strategic short positions in prop sector. That's why i am risking this profit on Cosco. Even when i'm wrong, the stop loss on Cosco will only cost me a small part of the profits. I'm still contemplating on whether to lug my laptop along..... it's a holiday afterall.... if i trade, then mana holiday? hahaha At the same time, it looks likely the turning point of the market is near, either long or short.... i may lose the opportunity to lon... More About: News , Obama , Sell , Wins 1, 2, 3, 4, 5, 6, 7 |
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