[weekly review] 2017 w46 " de-risked"

Foreword

These few weeks have been quite challenging trying to find new jobs, while I feel urgency to quickly move on, there is also hardly any job i would like to take or available for the matter of fact. But nonetheless i will use the lull period to learn some stuff that's useful for my development. Hope to learn some basic programming/ macro-ing.

Meanwhile met one of my friends for dinner, and he shared with me about robo-advisors and that he had put in a few hundred dollars in it. Going to read-up more on this and see how  i can allocate some money for this.

Transactions

Chip Eng Seng. SOLD, touched my trailing stop loss. so i took profits realising about 4.75 years of dividends. So will scout for next counter.. or wait for the next opportunity to re-enter if a set-up appears.

MM2 Asia. BOUGHT. This counter is not unfamiliar with me, I have bought before and did multiple scale-ups before exiting. Over the weekend, i was doing some scanning, and this counter propped up. TA-wise, this was a high probability trade, because of the incoming golden crossover that will fuel buyers. I also saw the nice bullish volume accompanied with weak bearish volumes, as indicators that the buyer's interest is high! My trade plan was to buy when the price breaks the bearish counter trend, and touch the EP, with a SL that is below the recent base built.

 Existing Holdings

Golden Agri. false breakout? I scaled-up on this position just last week (see here) where i mentioned i broke my scaling-up rules, so indeed, what i did had reduced my trading edge (which was a psychological edge) and increased my risks from 1 R ( of $500) to 2Rs over one counter. I can foresee myself exiting from GAR if the price hits 37.5c, and then beating myself up when the counter returns back to abv 40c. So what i will subsequently do, will be to reduce my position by 50% should it hit my currently SL.

My other holdings include counters like Mapletree GCC, Global Inv and Suntec which are income counters. 

Conclusion

I had actually set myself up for failure with some bad transactions such as GAR, where i scaled up on a position with little profit buffer. And how i missed a golden opportunity in earning more when i did not scale-up on Chip Eng Seng. But i guess this just reinforces my mind how important it is to make trading plans and follow-thru it.

On the exit strategy, I am toying with the idea of a staggered exit, where a reduction allows me to lock in some profits while i can still maintain a portion that is significant for me to re-enter subsequently.