A lot happened to my trading this month. I monitored my AEM's losses and tried sticking to my strategy. Not sure if it's luck or effort paid off, it bounced back up. There were many occasions that I could have re-entered or scaled out, but were more often than not few pips out. That denied me significant results.
But nonetheless (thankfully) it surged back to ATH and of course, cashed out with only a marginal gain, considering the amount of funds deployed to try this strategy. But it's good experience, to learn to desensitise myself with individual counter performance.
I also took the chance to bail out Genting when it bounced this month, seeing that it will probably remain on the downside for a while longer. Left some to just wait for a higher bounce to bail it out, or I can avg down when it drops even lower. Confidence is there as many see Genting as bottoming out in terms of prospect, and with the long term plan drawn up for the greater Sentosa, it should produce more revenue in time to come. Lets see...
My next step will be after my freezer stocks - GKE, Memiontic hldg, Wilton, Rex, Avi-tech. Every round I cashed profits, they somehow dragged my portfolio down. But I manage to keep my portfolio afloat along the 64 - 65k range, despite the freezer stocks chalking up more and more unrealised loss. Now that I'm more or less knowing that these stocks will just depreciate my portfolio the longer i keep them, i need to find some way to cut them off. never mind the losses since I already priced them in my portfolio performance..
And that's urgent, otherwise however much i make from profiting my current counters will not see results cos of these freezer stocks.
On the macro level, rate hikes are back on the table due to inflation worries, US-Iran still in limbo, and seems US is not reaping any benefits from the prolonged conflict. Oil remains elevated, Tech sector forming resistance levels even with "record" earnings, and this impact trickled down to our local stocks which rely on them for revenue. So my strategy this month had been to cash out whatever I have profited, re-enter cautiously while keeping a whole bunch of cash for re-deployment when opportunity arises, most probably for some slight bounce gain.
I might not be as active in September since I'll be on holiday, but hopefully I can still monitor the market if time allows. Perhaps continue to find bounce opportunities to exit my freezer stocks, or enter long on counters that are poised to give growth by the time I return.
Update #57:
