[Midweek review] too many open positions

Thoughts

The reason why i decided to post this was because I realised that i had 6 open positions, which means i have a possibility of losing up to $500x 6 =$3000! this was more than my acceptable cumulative risks i was willing to accept. and at certain point i know i will be emotionally affected. So i am reviewing where to cut!

Approach

1. list down date of initiating position
2. see profitable or not
3. if not profitable check against initial idea
4. Put those that fail the down select to be stop-loss

I also wanted to see what was the original idea of buying the position, because i realised that once you are vested in any counter, any FA/TA will retrospectively support your initial idea. This is confirmation biased and our brains playing tricks on us.  This also explains why some people will valiantly defend their position in a counter, although it has dropped quite a fair bit. I need to recognize that my TA also not 100% correct.

Also note that once a particular counter has $1k of profits, it will not be considered an open position, as the profits act as buffer for my positions ( though this is still truly not exactly closed)

Holdings

DBS. 30 Apr 2018, 1 day elapsed. $496 risked. The position is new. this is largely a TA position because of i) ascending triangle, ii) build up before resistance. The FA is that interest rates are expected to increase so profits for banks will increase. Seeing it play out on the mortgages that my friends take out from banks. among the three banks, i bought into DBS, because it is a stronger bank, offering increased dividends, with perceived better management. It is still playing out the  breaking out, Hold!

CSE Global.23 Apr 2018, 8 days elapsed. risk $550.This was initiated on (TA) reversal-play confirmed, and (FA) recovery of O&G play (here). It had XD and given 1.5c of dividend, but price did not fall much. I'm looking at this counter playing out the reversal play, consolidate a bit and allowing me to enter another position as it comes in. it is exciting now because price is above 200ma and 50ma. Hold because the reversal is playing out now.

China Sunsine. 20 Apr 2018, 11 days elapsed. risk $416. Pure technicals, on breakout play (here). After the supposed breakout, it returned and consolidate, right now it is 'consolidating' again. While my entry can be considered a false breakout.. the position has not broken down nor consolidate for ore than 50days. Holding because i will let the breakout play out soon, otherwise have to stop loss.

Chip Eng Seng.19 Apr 2018, 12 days elapsed. risk $360. Entry reason is a (TA) Breakout play, and (FA) income investing (here) . My entry was before the breakout, and i am inside  as this is a build-up, and with price abv 50ma and 200ma... there is a higher than 50% chance of it running higher. I also aware about the property market is doing well right now.Hold for now.

Raffles Medical Group. 13 Mar 2018, 49 days elapsed. risk $400.  TA reversal play (here). price has stayed above the 200ma and 50ma, but the movement is not explosive. you can consider this "consolidating" will be exiting by next week, unless there is a positive action.

UOL. 19 Feb 2018, 71 days elapsed. risk $420. (TA) swing trade, (FA) low PB and PE, giving okay dividend~2% while waiting(here).  currently you see a ascending triangle, and the prices seem to be supported, sitting on a small profit, and i am hoping to add onto this position if there is a build-up before the breakout of 9.34. Will be Holding.

Cumulative risks of $2642 ( not including transaction fees)