Sorry for not updating sooner. The past few days have been a bit hectic. And like I said the other day, tiring! More so this week since my trades weren't as profitable. :P Welcome to whipsaw wonderland! Last time, I mentioned FDC right? Love at first sight daw! Talk about heartache! That player! Tsk tsk. [-( Don't worry, I came out of it unscratched. Or wait, I have a paper cut. :P That's it. :) Oh, I got heartbroken with LR too. I came out of it with a small loss. I got discouraged to buy back like I normally do.
For the first time in a really long time, I had no positions yesterday. I went all in on Monday and went all out yesterday. I was about break even for yesterday. I came out with a profit with APC and BEL and CYBR but some loss in ELI and MER. Considering the market was down 80 points, I think being break even for the day was good enough. I slacked off in MER kasi eh! I didn't realize it went 14 pesos below my cost already. I was confident with my MER and but I was still shaken out. Sheesh, and today, I bought some back at a way higher price! Haha!
So, I noticed I was committing more errors as I go along. This morning, I bought NIKL at 20 only to sell to as low as 19.90. I also bought SCC at 212 but sold at 206. Again, paper cut, thanks to proper position sizing! On an ordinary day, I would have decided to keep my position on NIKL but I wasn't thinking right anymore. I was emotional and I couldn't look beyond the "now". So, I decided to take a break. To keep me away from temptation, I was researching for a good YM skin. I found one that looks like the iPhone! Here, check it! So, anyway, this break turned out to be just an intraday break. I couldn't help notice that prices were starting to rebound. Being the kind of trader who is attracted to rising prices (Positive Feedback trading), I looked at intraday charts of recent high fliers, namely LND and APC. I also noticed the foreign buying in MER and realized that the break below 260 was a bear trap. I bought them all back. I even helped in the breaking out of APC. Hihi! :) This time, I bought with more conviction and I had the confidence to hold it for at least...one more day. Nabuhayan ako bigla. I hope I don't get massacred tomorrow. :P
Here's to speculation!
4 comments:
I like this market. Easy-to-trade trends. Haha we've been dealing in similar stocks!
Abi, I agree. Very clean trends at the start. But for some reason, I still can't hold on for more than a few days! :)) Uuugh, me and my itchy hands! :)) How are your trades so far? :)
Ok naman. Not fantastic, but profitable thanks to the early trends this month. :)
It's a common sentiment right now among traders. The few good trends attract a lot of money and attention, but there are a lot of weak hands. That's the general sentiment of the trading community right now, and it's especially obvious when you observe the PSEi. Up days are +10 to +30, Down days are -80.
Well said, abi! :) True, true...
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