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Showing posts from November, 2018

We choose to see what we want to see...

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https://www.cnbc.com/video/2018/11/15/wells-fargo-even-a-whiff-of-progress-in-trade-talks-will-spark-rally.html https://www.cnbc.com/video/2018/11/12/stocks-slammed-and-traders-are-betting-it-could-get-a-lot-worse.html Don''t we choose to hear what we want to hear? See what we want to see? Good news or Bad news alike. The latest buzz word is G20 . Stay peeled! “If you don't read the newspaper, you're uninformed. If you read the newspaper, you're mis-informed.” ― Mark Twain *** Check out my  Blog Archives here  for previous posts

A terrorizing month of trading and some lessons

My school fees are due. In the month of October, my trading account took a dent as Mr market got volatile and swung in highly unpredictable manners. The swings were rough enough to send those who are not nimble enough or not patient enough (yes both, even though they seem contradictory) flying off their seats in all directions. Even VXX has now broken its trend. No more trend to ride. :( Lesson 1)  When Stop loss = Sure loss Should close position for the day and NOT just set a stop loss for next day when the market is mad volatile and gapping is rampant. Even though my (limit) stop loss is set exactly at my bought price, I still can get forced stop out with the gap difference at a much lower price the next day when market opens. Conclusion? My stop loss is practically useless. Then Jedi warrior SMOL reminded me that each time frame has their own stop-loss rule. I am probably not so sure of my 'time frame' and thus set all the wrong stop loss points. And must rem