my daily trading

My daily trading is my media for sharing my thougth, expression, and idea of stock market. I hope you can give your own opinion too about every topics that i posted

Friday, August 04, 2006

Betray My Friend

The trend is your friend, don't you ever betray him. It is true...I just have a bad days on friday..I have to call it as Friday the forth. But the problem is I betray my only friend in the market - TREND - and it cost me. Actually, I just tried to make some improvisasion on my trading style. I tried to fade the trend movement as soon as my analysis said that the stock is overbougth. It was not hurt my bottom line too deep because I closed the position soon but it gives me a pretty lesson. It is better to use every overbougth signal only exit your position, not for taking a new position whenever the trend is not on your side.

Tuesday, August 01, 2006

Basic Trader Character

I just want to share something that I learnt early in my study about trading and investment. The first book about Technical analysis that I read is "Technical analysis explained", written by Martin J.Pring. The book is not good as the others that I read after that. I found that book on my campus library (actually this is the only technical analysis book in my campus library, what a shame?).

As a novice, It was hard for me to grasp about technical analysis from that book. But I found only one interesting topic in that book. The topic looks like as something that has nothing to do with technical analysis – the main reason that I read that book – because it is printed on the preface chapter. Later on in my development process, I found it as very important topic in trading and deeply explained on the other books. It is just about important character that trader must has and develop. Even though it is only a preface by Mr.Pring, I have a lot of interest of this phrase.

Patience, discipline, and objectivity.

It only contains of three words, but it explains what you must develop to be a great trader. Some people have this trait as a nature, but fortunately it can be learned and developed.