For a trader, winning is extremly dangerous if you haven't learned how to monitor and control yourself.

The Secret Recipe: Trading Success = Winning Trading System - U


Wednesday, January 27, 2010

It's Down

This was what happened yesterday:

STI :2740.33, down 71.38
Gainers/Losers: 43/602

Market breadth is huge. Let's face the real market, it's down. and when market is down, we need to take action get out of market if you are long. The big word here is ACTION, no more hoping and waiting, What I was hoping is it will rebound but until now it doesn't really happen yet, market is so weak. And when my stocks break support level or hit my exit point, I quickly out instead of hoping. No big deal to cut loss, but it will become big loss if you don't take ACTION and get out when it's small loss. then it's too late to regret.

This is the first wave of bear, I'm waiting for the rebounce and look at short side thereafter.

Any long positions will be rebounce play, short term, fast in and out from now on.

No comments: