Happy lunar new year to anyone that is out there!
over the last few days i exited some counters...
and i would like to focus on the mistakes i've made.
hope someone can learn from it.
Exited counters
Spackman. Entered when price was too far from MA50, now it has broken down i wll exit (as plan).
If i replayed it, i would not have re-entered spackman so soon, i would have re-entered closer to MA50 line, and when the price break below MA50 line, i wll exit , my loss will be less than 5%.
Acromec. Exited even before the price touched MA50, and it has rebounded.... so this was a mistake exit. this entire trade set-up costed me approx $2K. firstly the days where the price hovered down had little volume, while the days up had loads of volume.
if i replayed the play, it would be to buy in on the days where there is a large down in pricing ( with little volume), and selling on large up pricing. this trade would then be profitable.
Counters Entered
Jumbo. has been consolidating for 6 months or so... with range trading, the recent volume on price up days are price action that suggest something is brewing....
i also notice that the price is respective daily 15MA, and hence currently my SL is at 74C or will trail it. themostr recernt candle stick also seems to point to a change in short term term, but my SL wll be safe, as i foresee it being just a short term pullback at most.
OCBC. Weekly chart shows a nice trend that has just started, so i am in OCBC for the long term.
my entry point was also not too far from weekly MA10. so i wll continue to hold and maybe addon positions when price rebound from the MA10 line.
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