Lessons Learned: Never buy on impulse
"Never buy on impulse
Always have a plan
Work your plan"
I know this has been said over and over again by our mentor at Absolute Traders. Sadly, it has slipped my mind.
My first two issues APC and PCP was a good move. Since, it is forming a symmetric triangle, volume is dimishing and MACD crossover that signals a BUY. So, I got in @ 0.39 and got out @ 0.44.
Next issue, PCP this I traded two times. First trade, I got in @ 0.28 and got out @ 0.33. Second trade, I got in @ 0.32 and got out @ 0.37. Not bad!
Trading APC and PCP was a planned move. I know my entry point (get in) and exit point (get out). Then, I traded impulsively. :(
I lost what I've earned from APC and PCP. I already cut-loss. My portfolio still intact and I still have 1.5% over my starting position. Good thing! Whew! If I didn't trade on impulse, I should have 8% over my starting position. Oh well, it pays a small tuition fee to learn.
2 comments:
Wow,
too much data hehe, sounds like pretty complex stuff there.
I try not to trade too much and just to let my issues ride the uptrend for a while ...but yeah you are right we do need to know when to get out and thats the tricky part isnt it - what if the issue still goes up at the exit point - then thats where emotions come into play hehehe.
anyway nice looking charts i noticed its frm amibroker - is this a software you download and connect to your account?
cheers
microserf
hi there,
thanks for reading my blog...
I try not to trade too much and just to let my issues ride the uptrend for a while
Well, I said to myself. Since, I know my exit point I should also let my issue ride the trend. But, unfortunately, I find myself glued on may laptop screen. Checking out the stock prices!
...but yeah you are right we do need to know when to get out and thats the tricky part isnt it - what if the issue still goes up at the exit point - then thats where emotions come into play hehehe.
that's what you call greed!! hahaha
anyway nice looking charts i noticed its frm amibroker - is this a software you download and connect to your account?
for local stocks data - there's a free sofware developed by Arnold Diaz - pseget
checkout the website of Absolute Traders
abbylim
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