Trade #4 TAPET (M)

My “what-the-heck-was-I-thinking” trade for the month of September. I was banking on a bounce as the stock was already oversold and as usual, it didn’t go well. It only took one mistake and I gave away all the profit I made for the past 3 trades.

tapet-chart

The stock was so illiquid, I can’t even sell at my cutloss price. Geez.

Lesson learned: Always do a test buy first so that if the trade didn’t go my way, my loss will be minimal.

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Trade #3 PLC (M)

The stock was oversold and was showing a hidden bullish divergence. So, I bought the stock at 0.94 on August 30 when it had a long green candle and large volume. I was foolish thinking that it would go straight back to the immediate resistance at 1.02.

Two days after that, I was already down by almost 9%. I hated myself for jumping to a trade like that. I can’t control this fear of missing out. The “sabi-na-nga-ba” moment when the price acted according to your bias.

plc-chart-9-14-16

Fortunately for me, the price was holding the 0.85 support. It made me hold my position and waited for the price to bounce again. My target price wasn’t hit but I already sold my position because I’m already getting impatient and needed funds to buy a new stock. I have a feeling that I’m going to regret my decision in the next few days. 😦

I made money but I’m not happy with the trade. I made a stupid mistake and I hope I’ll remember this every time I click the buy button.

My next post will also be like this. It’s because I impulsively bought a stock a day after I bought PLC. Oh my gulay, wish me luck.

 

 

Trade #2 SMC

I became interested with SMC when it broke out of 83.50 on August 9. I waited for the price to consolidate first because based on experience, buying at the close of the breakout candle will make you cry the next day. So I made an O-H order at 83.00 on August 15. Luckily, my order was hit.

It went up to 86.00 the next day. However after 3 days, it went back to 83.00 levels. The price was ranging for several days and I got tired of waiting. On August 31, it went up as high as 86.00 again and I had the opportunity to sell at 85.00.

Looking at the chart now, I can say that I made the right decision. Good game well played 🙂

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Trade #1 MCP

I think it’s about time I start recording my trades if I seriously want to be a better trader. I need to study my past trades and learn from my mistakes.

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Let’s start with MCP, I bought this stock when it broke out from it’s previous resistance on August 16. My initial target price was 4.25 and my cutloss was the low of the candle. Risk reward wise, it was not a good trade but I was willing to take the risk. I then adjustment my stop to 4.25 when it broke out from the next resistance. Unfortunately, I had to sell the next day when it hit my stop. Seeing the nasty looking bearish divergence did not make me think twice pressing the Sell button. The candle on the following day made me feel good because I made the right decision.

Weak Hands

The stock was ranging from 2.80 to 3.00 and had higher than normal volume from time to time. It was also showing hidden bullish divergence in RSI. I was thinking that this stock was in accumulation stage and it’s bound to go up after several days or weeks.

I bought it at 2.85 on July 20 and waited for weeks only to be forced out of the trade on August 11 because it closed below my cutloss point at 2.79. I was only able to sell the following day because I sleep during trading hours.

6 days after I sold the stock, it did what I thought it would do. It went up by 28.16% and as usual, it made me say, “Sabi ko na nga ba eh”.

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I’m aware of the Spring stage by Wyckoff but I was hesitant to enter again. Fear got the better of me. Oh well, all I can do now is to learn the lesson and move on.

wyckoff

Purge

I lost my interest in blogging after having bad trades after another.

I grew tired. It’s like I can’t do anything right anymore.

All this reading of books, studying Zee’s blogs, attending seminars and countless hours of charting. It’s not bearing a fruit.

I’ve always thought of giving up…

I feel like I’m just wasting my time for the past 3 years.

Is there even a chance that I’ll get better at this?

sigh

Oh Lord, please give me the strength to carry on.

I’m tired of quitting when things didn’t go my way.

quitting quote

I purged myself as Zee would call it. I need to stop myself from going to a point of no return.

I stayed away from the market and decided to do something else.

After a two month hiatus, I started to look at the charts again and bought these stocks.

myport 6.30.16.pngIt isn’t much but I’m happy with the result 🙂

I think the reason why I’m failing was because I was trading setups that I’m not good at. I tried bottom picking, breakouts and ended up crying afterwards.

I guess I’ll stick with trend following for now and hopefully, all will be well.

Wow Mali Trades 1Q16

Reading Zeefreaks’ blog about his trophy trades for 1Q16 made me want to blog about my trades too. Unfortunately, I don’t have these “trophy trades” so I’ll just write about my Wow Mali Trades.

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Wow Mali Trade #1 – SMC

On January 6, I entered the trade in anticipation of a breakout. I know it’s risky to buy at the resistance but I don’t what to be left behind. (Nice reasoning huh?) I cannot monitor the market because I need to sleep in the morning.

Regrettably, I sold SMC after a few days because I was getting nervous with these market-on-close orders. I was thinking that there was someone who was force closing the price at 52. What if he was suddenly overwhelmed by the sellers? So I got out and then the next day…

smc chart

I died. Phoenix Down please?

Oscar Mike Golf! I could have gained around 40% if I’ve just set Trailing Stops and sold at 72.90 just like what Zeefreaks did.

Oh the monies I lost.

Argh!!!!!

Wow Mali Trade #2 – MAXS

I bought MAXS when it was still at 16.40 per share. At the time I bought this stock, I learned that I should have a Time Stop.

They say that if a trade doesn’t give you the results you expected after a certain number of days, you get out and so I did.

maxs chart

After a few days, the stock went KABOOM! If I was still holding this stock until now, my port will be so much good to look at with almost 38% of paper gain.

Anyway, as the first quarter of 2016 has already ended. I hope my foolishness will also end and start making good decisions from this day forward.

fingers-crossed-wish-me-luch-architecture-new-york-city-design-dasilva-architects

Wish me luck. I’m badly in need of it 🙂

LPZ is ♥

Presenting the one and only trade that gave me a nice profit this quarter of 2016.lpz

LPZ broke out from the 5.71 resistance with a large volume on March 10, 2016. I decided to enter the trade after making sure that there was no bearish divergence in RSI and STS.

Since I can only check the stock market at night, I made an off-hours order at 6.81 which was the closing price.

I hold on to the stock and sold at 7.07. The RSI was now really overbought and it may already be due for correction. As they say, sell when happy 🙂

 lpz sold 2.PNG

A gain I haven’t seen in a very long time

Oh SUN, you made me cry T_T

~Flashback sometime in mid-February~

I decided to wait for the month of March to end before I start posting all my trades here. I wanted to have a fresh start because I already made a lot of mistakes this quarter.

I was thinking that my skill in analyzing charts will greatly improve once I attended this technical analysis webinar which will take place in a couple of weeks.

I imagined that my blog will be full of winning trades.

I can see it!

I can feel it!

Woohoo!!! Yeah!!!

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Alas, after seeing the result of my trade this morning, there’s no denying that I’m still the same.

I don’t think waiting for the quarter to end will matter because old habits die hard.

So without further ado, let me show you my foolish trade for today.

sun
ouch right?

Okay, before you say anything, let me rationalize why I entered the trade.

On March 22, SUN broke out from the 1.13 resistance with high volume. Who knows, it can be another DAVIN or DD in the making.

So my plan was to enter at 1.21 which was the closing price. My target price  was 1.36 and my stop loss was 1.13 with a Risk Reward ratio of 1:1.9. Not bad huh? *wink*

sun

Oh boy! Was I surprised?

What can I say, I’m a chart chasing monkey who can only monitor the price after the market is closed. So yeah, lesson learned the hard way.

Come to think of it, do I really learn from my mistakes? I’ve been doing this for the past 3 years.

Over and over again.

insanity-Einstein-Quotes

Am I insane?

 Note to self: Never chase.