Ninja Master Fund - Interim Results

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 ^_^

Update on "Fire & Forget" Strategy

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 @ 303 on 4 Sep 2013

CapRetailChina @ 1.355 and CourtsAsia @ 0.725 on 11 Sep 2013

KrisEnergy @ 1.17 on 16 Sep 2013

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. ^_^

Ninja Master Fund - Fire and Forget?

There are so many things that i want to do in life.

• Write a book on how to play IPOs (my first project)
• Invest my SRS fund
• Trade for a living
• Travel round the world.
• Teaching and sharing with people how to pursue for financial freedom 

I contemplated for a long time whether i wanted to share this with you but i decided that i need to "torture" myself further. 

You know that i swing trade on a part time basis since i hold a full time job. My many hours of meetings during the day and frequent travels for work is really not conducive for trading. I have been sharing some of my trades with you on this blog in the past with the cut loss and target levels and i hope you learn something from them.

With the advancement of technology, it is now much easier to place "OCO" orders on a good trading platform. OCO stands for "Order Cancel Order". It means that if one order is done, it will automatically cancel the other order. In other words, i can now key in my "target price" and my "cut loss" price once i enter a trade. It allows me to "fire and forget". I have not used this feature yet but am seriously contemplating do it for my next trade as i should be tapping technology to make my life easier so that i can go "fishing". 

Since April this year, i have started a $100k trading account with Saxo. In my view, it is an excellent platform that allows me to trade except that my brokers will not be pleased since less trades are routed through them. I have decided to share with you my journey on this Saxo account here so that overtime, it will be a place where i can come and dig back my memories.

The account started with $100,000 in April 1, 2013. As of today, it is around $104,967.60

This account is mainly for swing trading local stocks (and occasionally US stocks). I will feature the trades on this blog if i make any trade through this account and overtime, i will also share with you how the equity line moves up or down. The key to trading is to protect your downside while letting your upside run, so not all trades will pan out as what i hoped. I will not also not hesitate to cut loss if the situation warrants it. Capital preservation has been a key feature in my trading.

Anyway, till next time. Happy trading. 

Note that i only swing trade this account when i am free. ^_^