However, KLCI is still weak.
Monday, April 07, 2008
9:37 am - FKLI is mushrooming down and looking to break 1200 today ???
This is the last resistance at 1220 level. If it breaks and it had, it is going downtrend. Our short position is still in place.
Saturday, April 05, 2008
8:24 pm - A great article by Joe Ross - one of my sifu !
THE COMEBACK
By Joe Ross
There have been plenty of times during my trading career that I had to come from behind to turn a sure loser into a winning trade. Believe me, trading can be pretty scary at times. However, sometimes you simply have to eat the loss and accept a fall. It is at that time you find out whether or not you can make it as a trader.
Despite my best efforts, I sometimes find it hard to pick myself up after a fall. You've heard it before, and sometimes it is said in really stupid ways: Traders must learn to expect losses. I even read once that traders have to learn to love losses. Losing is not something I ever want to learn to love.
Learning to expect losses is often easier said than done. Even if you are a seasoned trader, and have complete confidence in yourself and your approach to trading, it is not easy to take a severe drawdown in stride, keep trading, and win back what you've lost.
If you're a beginner, a severe drawdown probably reflects a lack of trading skills -- but if you are not a beginner, more than likely you have done something really foolish. You've messed up somehow, and you now find yourself facing a devastating loss. It happens to the best of us. You have my word on that.
There may be an element of truth in it when a novice trader tells himself or herself, "I don't have the skills to trade profitably and I should just give up." It is hard to pick yourself up after a severe fall because, in the back of your mind, you think your fears may be legitimate. You haven't yet acquired the confidence in yourself and in how you trade to be sure that you know what you are doing. In the end, however, such a negative view of your trading is not going to allow you to achieve the financial success you hope for.
The only way I know of to become a consistently winning trader is to keep trading, so that you can get the extensive experience you need to make it as a trader.
Again, that is a lot easier said than done. When the market is kicking you in the teeth, it is really hard to hang in and keep on trading, and you won't be able to keep on trading when you feel paralyzed after a setback. Thankfully, there are some things you can do to pick yourself up and keep going.
From my own experience I can tell you that after I've taken a severe hit, it's hard not to feel extremely disappointed. Mostly, I am disappointed in my performance. Just as with anyone else, I experience times when I feel insecure to some extent, and a major letdown brings out this sense of personal inadequacy. As I tell attendees at seminars and in private tutoring, I still have to put my pants on one leg at a time, the same as they do. My mind is wired just as is yours -- a loss brings to mind linked memories. A bad trade brings with it a bad memory, which in turn brings yet another bad memory. I find myself saying, "Oh no! I screwed up again. When will I ever learn?" If you allow it, you can find yourself in a vicious circle; one failure brings to mind another, and then another, all of which serve to intensify your disappointment. You've got to break the circle before it intensifies, but how?
There are two ways to stop the vicious circle from turning a minor setback into a major disappointment:
1. Make and keep a list of great wins you've made as a trader, especially those where you came back from behind. When you face a disappointing trade, you can read through the list to remind yourself of the times you have succeeded. This list of memories of successes will counteract your tendency to recall past failures. When you recount your past triumphs, your mood will turn from pessimism to optimism.
2. You must deal with the possibility that you may, deep down, really believe that you can never become a profitable trader. Obviously, such a belief isn't going to help you persist after a setback, even though there might be some truth in it. If you merely try to deny the belief and block it out of your consciousness, it may have a more powerful adverse influence on your motivation. The best way to neutralize this thought is to acknowledge it, and refute it.
Keep in mind that with persistence you will gain the experience you need to trade consistently and profitably. Remembering and concentrating on this fact will powerfully influence your ability to recover from a setback.
By Joe Ross
There have been plenty of times during my trading career that I had to come from behind to turn a sure loser into a winning trade. Believe me, trading can be pretty scary at times. However, sometimes you simply have to eat the loss and accept a fall. It is at that time you find out whether or not you can make it as a trader.
Despite my best efforts, I sometimes find it hard to pick myself up after a fall. You've heard it before, and sometimes it is said in really stupid ways: Traders must learn to expect losses. I even read once that traders have to learn to love losses. Losing is not something I ever want to learn to love.
Learning to expect losses is often easier said than done. Even if you are a seasoned trader, and have complete confidence in yourself and your approach to trading, it is not easy to take a severe drawdown in stride, keep trading, and win back what you've lost.
If you're a beginner, a severe drawdown probably reflects a lack of trading skills -- but if you are not a beginner, more than likely you have done something really foolish. You've messed up somehow, and you now find yourself facing a devastating loss. It happens to the best of us. You have my word on that.
There may be an element of truth in it when a novice trader tells himself or herself, "I don't have the skills to trade profitably and I should just give up." It is hard to pick yourself up after a severe fall because, in the back of your mind, you think your fears may be legitimate. You haven't yet acquired the confidence in yourself and in how you trade to be sure that you know what you are doing. In the end, however, such a negative view of your trading is not going to allow you to achieve the financial success you hope for.
The only way I know of to become a consistently winning trader is to keep trading, so that you can get the extensive experience you need to make it as a trader.
Again, that is a lot easier said than done. When the market is kicking you in the teeth, it is really hard to hang in and keep on trading, and you won't be able to keep on trading when you feel paralyzed after a setback. Thankfully, there are some things you can do to pick yourself up and keep going.
From my own experience I can tell you that after I've taken a severe hit, it's hard not to feel extremely disappointed. Mostly, I am disappointed in my performance. Just as with anyone else, I experience times when I feel insecure to some extent, and a major letdown brings out this sense of personal inadequacy. As I tell attendees at seminars and in private tutoring, I still have to put my pants on one leg at a time, the same as they do. My mind is wired just as is yours -- a loss brings to mind linked memories. A bad trade brings with it a bad memory, which in turn brings yet another bad memory. I find myself saying, "Oh no! I screwed up again. When will I ever learn?" If you allow it, you can find yourself in a vicious circle; one failure brings to mind another, and then another, all of which serve to intensify your disappointment. You've got to break the circle before it intensifies, but how?
There are two ways to stop the vicious circle from turning a minor setback into a major disappointment:
1. Make and keep a list of great wins you've made as a trader, especially those where you came back from behind. When you face a disappointing trade, you can read through the list to remind yourself of the times you have succeeded. This list of memories of successes will counteract your tendency to recall past failures. When you recount your past triumphs, your mood will turn from pessimism to optimism.
2. You must deal with the possibility that you may, deep down, really believe that you can never become a profitable trader. Obviously, such a belief isn't going to help you persist after a setback, even though there might be some truth in it. If you merely try to deny the belief and block it out of your consciousness, it may have a more powerful adverse influence on your motivation. The best way to neutralize this thought is to acknowledge it, and refute it.
Keep in mind that with persistence you will gain the experience you need to trade consistently and profitably. Remembering and concentrating on this fact will powerfully influence your ability to recover from a setback.
Friday, April 04, 2008
5:39 pm - I will be out of CIMB office on April 7,8 2008
Pls take note that Li Ling will be in trading desk/office to manage your trading position.
- Martin-
- Martin-
12:31 noon - Can DJIA break 12,800 tonite ?
If you look at the 240 mins chart of DJIA, it has to register huge volume for the breakout above 12,800 tonite. For the last 2 attempts for breakout, the volume is significantly low. On the other hand, the big players is more willing to support the market when it drops, judging from the DJIA when it tries to test lower @ 11,800.
11:06 am - FKLI is mushrooming down gentlely.
This is a good sign for SHORT position. Our KLCI market is weak.
9:21 am : FKLI zoom up to 1227 and form an upthrust.
Hang Seng Hong Kong market is closed for Cheng Beng Holiday. So no influence from Hang Seng.
Our FKLI is likely to move by itself or sideway movement.
TG in short term indicating no demand. Maintain short position. Stop loss at 1230.0
Thursday, April 03, 2008
5:42 pm - FKLI has a daily SHORT signal today for double EMA crossdown @ 1210-1215.
So for the EOD traders for FKLI, they will be shorting FKLI tomorrow if DJIA closes lower tonite.
3:10 pm - After lunch, FKLI pullback to 1227 and beginning to trade downward again to 1220.0
FKLI market has to go into discount before cash market before end of the day.
10:07 pm - Bill and myself will be conducting the Master the Markets : Foundation Course, April 7,8, 2008
There are few seats left in this investing and trading course in KLSE stock market. Bill will conduct the 1st day training on the foundation to trade KLSE stock market successfully. I will cover MetaStock software and some futures trading technique on Day 2. If you are interested, pls contact Dolly at 03 4252 4149 for registration or email me for queries at martin.wong@cimb.com
9:13 am - FKLI gap down and starting to trend up !
Our short position is still in place with stop loss at 1242.5.
Wednesday, April 02, 2008
9:19 pm - Wall Street stocks to rally at opening
NEW YORK (AP) - Wall Street was poised to rally once more at Wednesday's opening ahead of Federal Reserve Chairman Ben Bernanke's scheduled addressbefore Congress. The stock market on Wednesday may benefit again from an improvement insentiment that drove a massive rally in the prior session when investors cheeredaggressive recapitalization efforts underway at major banks. Lehman Brothers Holdings Inc. and Switzerland's UBS AG issued new shares tohelp bolster their balance sheets. Investors at the start of the second quarter seem more willing to look pasttight credit markets and the troubles of financial firms that plagued the firstquarter. Bernanke will testify about the health of the economy to Congress. As usual,investors are hoping he will drop some hints as to whether the central bankplans to continue its aggressive interest rate cutting program. However, they also will want to know how weak he considers the economy tobe. Numerous economists have said they believe a recession is under way.However, Fed officials generally are cautious when describing the economy. Arecession consists of two consecutive quarters of economic contraction and canonly be declared in hindsight. In addition, investors will be curious to see if Bernanke offers anyinsights into the Fed's role in aiding JP Morgan Chase & Co.'s purchase of BearStearns Cos. and whether he believes the credit crisis is nearing a conclusion.The Fed chairman is set to begin speaking as the market opens at 9:30 a.m.Eastern time. Government data on factory orders in February is due at 10 a.m. Eastern.According to Thomson/IFR, there should be an unchanged level of orders inFebruary, following a January decline of 2.5 percent. The futures contract for the Dow Jones industrial average rose 50 points, or0.4 percent, to 12,677. Futures contracts for the Standard & Poor's 500 gained5.20 points, or 0.5 percent, to 1,375.80 and Nasdaq 100 futures rose 9.8 points,or 0.6 percent to 1,867.5. Wall Street began the second quarter Tuesday with a boisterous rally asinvestors rushed back into stocks, optimistic that the worst of the creditcrisis has passed and that the economy is faring better than expected. All themajor indexes were up more than 3 percent. Tokyo's Nikkei index closed up 4.21 percent. There were gains on Europeanbourses too, with London's FTSE 100 rising 0.08 percent, Frankfurt's DAXadvancing 0.31 percent and Paris' CAC 40 gaining 0.23 percent. Copyright 2008 Associated Press. All rights reserved. This material may not be
5:23 pm - FKLI closed down -19 pts at the end while open +30 pts at the opening
This is one end of a see saw today for FKLI with range of 51 pts.
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