It was raining heavily in the morning and the traffic turned slow. Nonetheless, It shouldn't be an excuse. I shall make sure that i am not late for morning class again. =(
Anyway, After class, I happen to see keng Cheng, a course-mate from NYP! Ironically, I was heading to Ngee Ann Poly which we met each other!
LOL! 2 NYP graduates meeting at NP! Initially, we couldn't really recognize each other and that we exchange SMS asking whether "was it you at NP?" Haha.
Anyway, Friday marks the last of the trading day for the week! Concluding a very volatile market influenced heavily by Last week's China's Monetary Contraction, This week's JAL's file for bankruptcy and the latest event was the statement issued from Mr. Obama last night, A policy which directly affects the US market and in turn, causing Equity market all over the world to fall!
Singapore Market wasn't spared as almost EVERY SINGLE stock was dipping. =(
Genting Singapore PLC wasn't spared too. I got to say that the price was hovering at my resistance price for the past 2 days and finally, It broke the resistance (also termed as Trough) price.
The next thing on my mind was, Time to EXIT!
And that concludes my first riding of an up-trending stock, earning a decent profit of $300+. I got to say that i should consider myself lucky that i only CUT Profit instead of having to CUT LOSS!
At the very least, I was able to protect my principle Capital. So, Not that bad i guess. Immeidately, I was home screening for the next stock to purchase. And I already have some in my mind. Waiting for "buy" signal.
Anyway, I was on the forum of T3B and here's something which i want to share.
Distribution of volume
Accumulation of Volume
This was a very neat homework that was uploaded by one of the students. And I have to stress that this is all for EDUCATION PURPOSES!
Basically, They are the Stock Charts for 2 company. Picture 2 shows the Accumulation of volume in relevance of the rising/ falling of stock price.
In short, What it is showing is the Market Psychology as written on the picture itself. When Volume died down as the stock price hover sideways, Chances are, It will shoot up after the last person is done selling their stock at the stipulated price.
Which was what the case, (Refer to the up-trend after the pink horizontal arrow).
I shall stop here and should you have any questions, Feel free to ask and we can share out points of view.
P.s. I may not be always right!
Last but not least, I would have to Emphasize the Importance of "FOLLOW THE RULES"!
One of the rules of trading is NEVER to look at stock price during trading hours! Something which i had breached.
But It was done out of goodwill since i got to know of the price breaking my resistance, thus activating my Sell decision.
However, It was tough making the sell decision, especially 1 part of my mind was telling me to HOLD onto it since i haven't really dropped into the CUT LOSS price. Like what i had post previously, My mind was telling me to HOLD on and see if the market will rebound! The consequences, OF Course, was gray since he could still go up or further down!
Fortunately, Thanks to what i had learnt from T. Harv, I told myself "Thank you for sharing" and also chanting "Follow the rules" deep in my mind as I sms-ed Terence to help me sell my Shares.
So, here are my 5 success for today:
1. I saw Keng Cheng, My poly course-mate!
2. I took control over my own MIND when i make the decision to SELL my shares.
3. I Was able to SELL my stock at my Trough Price when the market rebound a litle!
4. I shared something i just learn from the forum here!
4. I deposited $2.00 into my Financial Freedom Account!
With that, I'll end today's post with:
"YOU HAVE A MILLIONAIRE MIND!"
Basically, They are the Stock Charts for 2 company. Picture 2 shows the Accumulation of volume in relevance of the rising/ falling of stock price.
In short, What it is showing is the Market Psychology as written on the picture itself. When Volume died down as the stock price hover sideways, Chances are, It will shoot up after the last person is done selling their stock at the stipulated price.
Which was what the case, (Refer to the up-trend after the pink horizontal arrow).
I shall stop here and should you have any questions, Feel free to ask and we can share out points of view.
P.s. I may not be always right!
Last but not least, I would have to Emphasize the Importance of "FOLLOW THE RULES"!
One of the rules of trading is NEVER to look at stock price during trading hours! Something which i had breached.
But It was done out of goodwill since i got to know of the price breaking my resistance, thus activating my Sell decision.
However, It was tough making the sell decision, especially 1 part of my mind was telling me to HOLD onto it since i haven't really dropped into the CUT LOSS price. Like what i had post previously, My mind was telling me to HOLD on and see if the market will rebound! The consequences, OF Course, was gray since he could still go up or further down!
Fortunately, Thanks to what i had learnt from T. Harv, I told myself "Thank you for sharing" and also chanting "Follow the rules" deep in my mind as I sms-ed Terence to help me sell my Shares.
So, here are my 5 success for today:
1. I saw Keng Cheng, My poly course-mate!
2. I took control over my own MIND when i make the decision to SELL my shares.
3. I Was able to SELL my stock at my Trough Price when the market rebound a litle!
4. I shared something i just learn from the forum here!
4. I deposited $2.00 into my Financial Freedom Account!
With that, I'll end today's post with:
"YOU HAVE A MILLIONAIRE MIND!"
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