Thursday, 26 December 2013
Wednesday, 25 December 2013
I was hoping to enter some positions yesterday only to realize that the market was on half day. Haha. I am anticipating a run up post Christmas and all the way to Chinese New Year.
Anyway, I am in a cleaning mood today and was packing my study when I come across my old trading journal.
Wow I don't even have the disc reader anymore. Haha. Alamak.
Which is why I think blogging is good in the sense that I don't lose the content as long as google (who owns blogger) don't go bust ah...
I bought two books today. Will share with you later after I finish packing!
Pardon the non stop postings... Since i am clearing leave. Hahaha..
Monday, 23 December 2013
Entered a trading position on Suntec REIT today at 1.51.
My first target will be 1.57 followed by 1.64. Cut loss will leave it wide for now at around 1.45.
This will be the continuation of the fire and forget strategy which i am embarking.
I have not been trading since 3 Oct 2013 as i have been really busy with work! wow.... really ate grass for more than 2 months but maybe eating grass is not that bad under current trading sentiments where it is down trending all the way.. :P
Thursday, 3 October 2013
As promised, I will do regular update on the capital account of Ninja Master Fund, which i use mainly for the "fire & forget" strategy.
My previous update was here and i started this account on 1 April this year with $100,000.
As of 30 Sep 2013, after the 4 trades in Sep, the capital account increased to $109k. Let's see if i can hit $120k within one year and the return would be 20%.
One thing you may want to take note is never force a trade. When I look at a chart and the chart doesn't shout "buy me buy me" to me, I will give it a miss.
The problem with new traders is to "overtrade" when they are on a 'winning streak'. In other words, taking a trade even when it is not compelling to do so or the risk-reward is not too good. You will have to learn to overcome that "trigger-happy urge" to prevent over-trading.
I will continue to share my trades if i see some compelling setups. I will be busy travelling again in Oct and Nov... :(
Happy trading ^_^
Saturday, 21 September 2013
The Fire and Forget Strategy has been panning out better than i expect.
I entered 4 positions using this strategy as i was busy travelling this month.
Capitaland hit my target of >320 on 19 Sep 2013 which was automatically taken out by my earlier orders.
Court Asia hit my target of 80c yesterday and the trade was executed.
In case you are wondering what a OCO means. It means Order Cancel Order. Just to give you a simple illustration, i keyed in 3 different orders at the same time prior to a trade. The logic goes like that, if my trade in CapRChina is done at 1.355, i will enter 2 simultaneous sell orders (A) to take profit at 1.50 or to cut my loss at 1.30.
The screen shot below shows that trade.
In the event that either one order is fulfilled, the other will be cancelled automatically as they are tagged together. However, I can change my prices post that trade if i want to. For example, i can change my stop loss price of CapRChina from the initial 1.30 to a "stop profit" price of 1.36 now that the share price has moved up to 1.42. My target price remained at 1.50 but i may change it if i don't like what i am seeing in the coming days.
In an ideal world, i should be reviewing my trades every night to change and adjust my plan accordingly without the market trading noise. I have to admit that such trading strategy is good in the sense that it took out the emotions in my trade as i don't have to watch the market during trade hours but to look at it objectively only after trading hours.
Happy trading. STI is looking toppish to me and may need to consolidate a while in the near term. Actually i spotted the bottom of STI in late Aug prior to my trip and sometimes, inaction is really expensive but hopefully, the fire and forget strategy can reduce that opportunity costs. ^_^