Rest & Recuperate from Trading

I’ve been trading for quite some time now. Paper trading as well as REAL trading since I was probably 19? “Play-play” trading for even way before that.

I’ve decided recently to take an R&R for a little while. Situations have changed and will change even further in the next few months. Hence, I need to re-evaluate my position and make a few changes to my trading plan and objectives.

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A Mercedes-Benz as a Graduation Present

When I first started trading and going into small-time ventures here in Australia, I had set an objective. I told myself, when it’s time to return to Malaysia, I was going to bring back a Mercedes SLK 200 Kompressor with me. Hehehe πŸ˜›

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One of my early trades… and the most memorable one!

I’ve done many trades since I first began participating in the financial market a number of years ago. But I have to say that this particular trade was the most memorable one.

What company did I trade? It was Zinifex Ltd., a mining company that has since been taken over by another company.

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Nadlique and Stock Trading

One of my biggest passions is the financial market. The financial market gives me joy and satisfaction.

Similar to photography and flying, I was interested in shares since I was a kid. I didn’t understand a thing about shares of course but I was intrigued nevertheless. I did try to ask my father about it but I didn’t really grasp the full understanding of what shares were all about.

Often, I kept on insisting my dad to buy some shares for me but those requests were always responded by “Nak beli ada duit ke?”. Hehe πŸ˜›

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Trade to Survive, Not to be Profitable

Talking about trading, there’s one thing that I learned from a very good trader in Australia.

“You trade to survive, not to be profitable.”

What that means is, you need to set it clear in your mind that you are here to survive in the long run. Aim to preserve your capital first. Take the whole notion of profitability out of the equation for a little while. True, at the end of the day, profitability is all that matters but remember this, if you survive in the long run, profitability will be drawn to you automatically.

If you aim for profitability alone and you want it fast, that’s when impatience starts to kick in. This is then followed by greed. As a result, self destructive behaviour will start to take control.

Moral of the story: Patience is virtue.

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The two B’s in Trading (Equities, Derivatives)

I’m not too sure whether I got this from a book or I thought of it myself. Anyhow, in trading, I believe that you need to possess the two B’s. What are they? Well, they are:

1. You need to be BOLD

Being bold is indeed very important in trading. You need to be able to make out what’s happening with the market, be if you’re a believer in fundamental analysis or technical analysis. Often also, you need to make split second decisions.

2. You need to have BALLS

Being gutsy is also very important. Without this quality, you’ll freeze in front of the monitor, I promise you that. Plus, you need a lot of bravery to see your trading money whipsawing every other day.

So, if you’re a trader out there, do you possess these two qualities? As for me, I still need to do a heaps of work in expanding my BOLDNESS and enlarging my BALLS, so to speak πŸ˜‰

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Can I still achieve what I plan to achieve by the time I’m 30?

Truly, the global financial crisis that we are facing right now is taking a toll on me.

My unit trust investment with Public Mutual is down around 35%, and my CFD trading activities is crippling. I’m still making money with CFD but my bank balance is advancing very very slowly. One day I’m up a few hundred dollars and the next day, I’m down a few hundred dollars. I made a loss last quarter but it’s getting better this quarter (I hope). Whatever it is, my trading performance is beating my unit trust investment performance but of course, I can’t be comparing them two. It’s like comparing apples and oranges.

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Boy, do I hate June 2008, and Barack Obama will lead Democrats into Presidency?

My goodness. I am currently experiencing a streak of bad things being thrown in my way this month.

First thing, I’ll be having my final exams in a couple of weeks. Hate it. Just can’t wait to get it over with.

Second, I just picked up my car from her 5000km service just now and I’m being slapped with the need to ground my car once again next Tuesday. My baby is in dire need to change her timing belt and water pump. Bye bye $1,000. Oh, not to mention, this month, I need to fork out more money for car insurance and rego (similar to road tax in Malaysia). Goes to show the need to spread big expenses throughout the year rather than flogging them all into one month huh?

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Paper Trading FTSE 100 Day 2 – 11th April 2008

Here are the results for day 2. For day 1, refer to this entry.

Trade 1
Bought at 6006 (18:00), exited at 6002 (18:55).
Loss: 4 points.

Trade 2
Shorted at 6002 (18:55), exited at 6010 (20:05).
Loss: 8 points.

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Paper Trading FTSE 100 Day 1 – 10th April 2008

Here are the paper trading results for FTSE 100 on day 1. Refer to the original entry to read about my plan to trade the FTSE 100 Index.

The entry and exit levels were based on actual data from my online trading platform. The numbers in brackets are times of entry and exit.

Trade 1
Short sold at 5984 (18:06), exited at 5935 (19:35).
Profit: 49 points.

Trade 2
Bought at 5935 (19:35), exited at 5934 (20:45).
Loss: 1 point.

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