What a year 2008?

Well, seems like it is too late for me to make a note on the market performance now. But what the hack.... WAH BIAN OEI ...

I know the market is not doing good and I know what to look out for. But once a recommendation came from a good friend whom help me made some good money last year. I cannot tahan and go for it. OUCH !!! It burnt me $5K in 2 weeks. And I could have cut it at $2K but my emotion told me to wait for a rebound. And it never comes, the force is strong in the SOUTH POLE. Furthermore, this week I spotted bottom fishing the those lost trade counter and I HELD BACK. Too scared to enter and it went up.

Conclusion, my training is not solid enough. However, I learnt the way of the chart in deep details now. Will try small small when the next signals come. And I found some good tips from this website http://www.sap-basis-abap.com/shares/index.htm. They had a lot of interesting article to keep up in tune if you are burnt, like me, to keep on track.

The following is a series of tips for trader extracted from the same website above.

Tips For Technical Trader:

1. Before you enter a trade, determine your CUT-LOSS point, be it 10% or 20% etc.
2. Be a TREND FOLLOWER as stock market CANNOT be predicted no matter how sophisticated the software is.
3. Take care of the losses and the profits will take care of themselves.
4. Capital preservation is the NUMBER ONE rule for Technical Trader.
5. Take OUT your emotions and trade mechanically (if you can't do this, then forget about being a technical trader).
6. Trading in a bear market means frequent buying and selling, taking advantage of short-term movement.