First takeaway of the year for trading

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The first takeaway of the year is that I have not learnt the art / skills of setting stop loss properly and got freakin' whipped out (as a weak holder) before the share price started to climb.

This is a perfect example of how real life action vs practice vs theory can be so different. Eh hem, k, I am not much of a practice person.


Despite all that witchcraft of line drawings (doing TA), market observations and having mostly the right stock picks, I still cannot master my mind and psychology well enough to score some home runs with 2019 being a good stock year. 

This shall be another "try again" year. 

I am still skeptical about how much higher the bulls can run (which made me terrified of holding long trades for too long).


Next update is...  I have finally dipped my toes into crypto. That was after much introduction from a fellow blogger Unintelligent Nerd. 

Currently the way I trade crypto is purely using TA, no FA. I am not learned enough to do FA for crypto - cannot analyze their underlying potentials and understand what should be the target prices. From what I observed in this short span of 2 weeks, the crypto space is full of risks, narratives and speculations. Despite abundance of positive narratives (especially in the event of price spikes), it would be wise to also look at some negative narratives and chew on them.

Main things to watch out for (BTC, ETH) are policy changes, how's the use case, token scarcity and any possible big whale dump event. Stablecoins - since they tied to fiat, they are "too stable" for trading and can be subjected to inflation risk. As mentioned before, I am not a keen taker of custodian risk with companies not regulated by MAS so I signed up with Binance sg. Their interface sucks is too simple. So before executing any trade, I have to do my witchcraft elsewhere. Also, it offered a very limited  range of cryptocurrencies for trading.

Not a recommendation for buying BTC but just wanna share this pretty cool video. (The theme song is so addictive and nostalgic as I used to be a huge Pokemon fan.)




Happy Rat Year folks! Hope each of us find our own ways to "huat" this new year.

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Disclaimer: Contents of this blog are personal opinions and NOT financial advice to buy or sell any mentioned securities, commodities or assets.

Comments

  1. Singapore Man of Leisure26/01/2020, 12:29

    Happy CNY Rainbown girl!

    So refreshing to see REAL trader sharing REAL frustrations and REAL reviews of trading ;)

    Now you know why its easier to teach theory for a living than trade for a living!



    ReplyDelete
    Replies
    1. Rainbow29/01/2020, 14:50

      Hi SMOL,

      Yes, teaching with examples is not same as DOING with examples.

      Hope to see more of your veteran sharing too.

      Delete

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The contents of this blog are author's personal opinions and do not constitute advice to hold, buy or sell any securities, commodities or assets mentioned. I do not guarantee the accuracy and reliability of any information provided, and shall not be liable for any losses incurred from reading my posts or using the materials herein. This blog may contain affiliate links to external sites.