FKLI Futures Trading - Bursamalaysia
This will chronicle trading in the FKLI & FCPO futures. If you don't like what you see/read in this blog, just surf away. These opinions are our personal opinions and just a record of our thoughts..."In evolution, it’s not the biggest, the fiercest nor the smartest that survive, it’s the one that changes the fastest.” I.e. the key word is to adapt the trading style to the markets, until it stops working
Thursday, September 30, 2010
Leave emotion out of trading
Follow the cable story...
I have seen a lot in my years of trading. A trader may be experienced, but yet still make all the rookie errors:
make rude gestures with his fingers at the trading screen when prices turn against his position
Swearing at the imaginary manipulator who took his/her money, basically the original entry and setup was clouded by emotion and wrong anyway, but these traders think they are alays 'right'. Basically the trader is saying "my analysis and view is always right, but 'they' cause me to be wrong', basically not liesening to the market.
One would live life better and have no high blood pressure by not making these rookie mistakes.
A guide using readily accessible FCPO chart
Futuresource provides a delayed chart... might be useful for those without access to real time chart.
Price action since the migration to globex seems better, the market makes higher highs higher lows in uptrends and vice versa on 15 min timeframe, the market learns ot back and fill....
20100930 Sime Darby Bhd, daily chart breaks out of trendline and 200 sma resistance.... will it start trending. Note the triple bottom area where 99% of lay men and even professional fund managers we exiting the stock en masse based on the purported losses from the oil and gas division, which is only a part of the company. Their natural human tendencies were to 'sell at any price' due to their fear.
As Gordon Gecko says "Bears get fed, bulls get fed but pigs get slaughtered' on Wall Street.
Wednesday, September 29, 2010
UEMLand is a standout. I remember in March 2009, a trader friend insisted that this was the stock to be in for the next bull market. We had the same opinion on the bullish stock market to come. Hence he bought a large position in the stock, I think at just below RM1.00. Along the way up he would sell at various levels eg 1.20 1.40 1.60 1.80 but as the price get higher he would buy back the positions he sold at higher prices, until eventually the position became zero in a catastrophic panic sell at around 1.60.... This is an example that parralel's Jesse Livermore's situation, Livermore learnt from his mistake and how he failed to see the wood for the trees... If one is bullish on the stockmarket, it is best to hold and be the sitting bull for the long haul. But remember the value investing principles "Buy when people are fearful and sell when they are greedy" "when you buy a stock, expect it to either go up 50% or drop 33%"
Tuesday, September 28, 2010
Monday, September 27, 2010
Singapore F1 Grand Prix Sep 26
Sunday, September 26, 2010
Weekly S&P500 and Nasdaq 100 charts
AFL Grand Final was a draw
Manchester City beat Chelsea 1-0 thanks to a typically magical goal from Carlos Tevez,, one of the best and fairest soccer players on the planet.
Saturday, September 25, 2010
AFL Grand Final, Singapore Grand Prix, City v Chelsea
SEMINAR? Only if there is demand. 2nd, 3rd Oct.
20100925 From Yahoo Finance, Stocks reignite gains as economic woes fade.
"Zahid Siddique, an associate portfolio manager at Gabelli Equity Trust Inc., said traders are only reacting to the latest news because there still isn't certainty about the pace of recovery.
"Based on the daily data they get, they move the market one way or another," Siddique said.?
I just wonder sometimes how the experts make these types of comments. Look at the attached 4 hour chart of the NDX (Nasdaq 100 index), it is clearly in an uptrend, rather than investors reacting day to day economic news....
The DDD (Doomsday Double Dipstickers) like Raubini are ducking for cover now.
Meanwhile, cable closes at the weekly closing high, longs should be maintained...
Friday, September 24, 2010
20100924 1146 4 hr cable, reaches only 1.5740 before falling back. Still gestating.
Couple of days ago I received an invitation to be a guest speaker at a trader's preview session. If there are enough people interested, I might consider giving the talk. Interested? Leave a comment or email: firstname.lastname@example.org
"There is the plain fool who does the wrong thing at all times anywhere, but there is the Wall Street fool who thinks he must trade all the time."J Livermore
THE END OF AN ERA
From Dragons and Bulls by Stanley Kroll
Intro and Foreword
The Importance of an Investment Strategy
5 The Art of War, by Sun Tau (circa 506 BC) and The Art of Trading Success (circa AD 1994)
That's the way you want to bet/a>
Long-term v Short term trading
Technicals v Fundamentals
Perception v Reality
Part 1: Winners and Losers
Part 2: Winners and Losers
Sun Tzu: The Art of War
Those who tell don't know, those who know don't tell
Why there is no such thing as a "bad market"
The Secret to Trading Success
The Experts, do they know better?
Risk control and money management
The 'good bets' business by Larry Hite
Don't lose your shirt
Ed Sykota's secret trend trading system