I am still learning... this month is pure trading, and I realised heavy losses from MIT LREIT and Genting.
Stocks went back up after I sold... looks like I'm not that good at spotting lows yet. Lesson (not quite yet) learnt - go against my gut feel. Though plus point is I made that first step to cut loss.
Thankfully (or not) those counters still within that range, and my unrealised loss upon selling is not that astronomical. Pumped in some to my trading acct to continue my battle on penny stocks.
I learnt I cannot dump huge amounts in right at the start. This causes anxiety and apparently CounterParties can see this and start pouncing on my trade, which then I will lose.
Start small amount, go bigger as it drops further, and cash out even if it is a little. Hit some green mid-month but greedy me tot it can go further... now plunged back into the red.
Got a fright when I entered YZJ FH a bit too high, I need to measure my FOMO levels. If I have to enter at the ask price, I should do so, and scrimping on that 0.005 did not do me any help as I find myself entering much higher as I missed my previous order. For now volume is still relatively healthy, price still sustaining, but I should exit soon, maybe 0.83 if signals show slowing vol.
Strat 1 - Tried my enter small on iFast. Realise I wasn't so emotionally controlled as I deal with it, cos I had already the mind set on entering more as it plunges further intraday. 0.1k at 7.41, then it plunged further, added 0.1k at 7.35, then 0.1k at 7.32. exited at a small profit, but for that capital and time frame I think I did quite ok, and this strategy looks sustainable. Shall hunt for another stock with such fluctuations and try out.
Strat 2 - Sell down and buy back, vice versa. Only risk is that I must know this is a up-trend or down-trend counter. and cannot trade too much. tried that on YZJ and ok la, made a couple of cai-png money.
I think more likely I'm going with Strat 1. But either strat, the key factor to me not losing control is - always make sure the warchest is thick enough to play on the downtrend.
This month I was burnt heavy.
All peaceful until I started trading more furiously after the budget speech.All hell broke loose as retailers got shorted by bb. From a high of 3.2, dived down to 2.21 within 4 days. There was lots of financial bloodshed.
At this point I realised what is cut and reduce... appears poems would update my average price even as I sell down and buy back. But that adventure came super costly... wiped out 2.4k and counting :( really can't sleep well.
Anyway, I had to remember this feeling, cos tts the actual feeling of trading with emotion. I had to learn to desensitise myself to that impulse and emotion. Was really rough thinking about that loss..
My investments are not helping either, Genting, Lendlease, Mapletree Ind trust went to all time low, lucky I out FLCT before it went down further.
From investment pov, makes sense to add, but..
Genting I could have cut some losses at 0.78 and bought back in at 0.70, but greedy me didn't do tt :(
Lendlease gave me scrip option, but I now hesitant whether to subscribe, knowing that it will go down even deeper...
MIT? FORGET ABOUT IT.
Anyway on the investment front, Trade tariffs shook markets again, resulting in billions wiped off multiple stocks in every exchange. Shortists beam with delight as they cashed out on heavy losses borne by retail investors.
Haiz.
