I would be posting twice this week as I have lots of reflection to do. But I would just edit this post.
19 Mar: It's only mid week and What a crazy week it already has been... and i think all traders would agree with me. After Dow ended on Fri, STI and asian market fell on Mon but not as bad as the previous. By end of Tue, STI went up due to asian market and us market. By Wed morning Dow had gone up by 400pts! I was like ok time to buy a quick one. So I did swiber and ST Engg looked good. Everything looked alright till afternoon everything just went wrong so wrong... I could do nothing about it as well I was at work so I could not stare at my screen and look at charts right. I'm not paid to trade...
Why did STI go down? That's my question... Once I find out I'll give my opinions.
22nd Mar: Have been busy these few days. Anyway the question has been answered. On wed what happened was morning STI went up as US market surged. Afternoon, European market went down causing STI to go down. What pushed STI down even more was Dow futures went down. I'm still holding on i know it would go up again but I know it won't break it's resistance just yet. I'll just pray and hope I would be able to take profit if I can.
Mistakes Made
1. Strategy was risky I was looking at short term trade, I knew what I was doing and what i had to do but the risk factor did not come into play.
Lessons Learnt
1. Do not go into a intra-day or short-term trade when you know you can't monitor the prices at work. And please don't do it behind your bosses back the entire day, it's ok if like its 10mins but alt-tab the entire day is so unethical...
2. Most Important!! I just remembered after losing money... The Trend Is Your Friend! Repeat after me. The Trend Is My Friend! The Trend Is My Friend! The Trend Is My Friend! And yes i apparently i traded against the downtrend. Hoping to earn on the short bull run.
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