I was just reading some facebook posts and one post caught my attention. Read the above. This is absolutely well said. Many times, I got people asked me if this price is good or if they should cut loss etc, well, I can't really decide for them because what if I asked them to cut loss and then the price rally afterwards? I am totally liable for it which I don't want. So the best person to decide is yourself since the money is yours. For example if you bought a stock at $1 and it is already 0.8cents, so there is already a 0.2cents unrealized loss, so why bother to ask? If one is willing to take a 0.2 cents loss as a trader, then he is very emotional in his trading and shouldn't be trading at all. Why don't take a very small loss and come back later? That's of course my philosophy and it might be different from others. Of course, if you are a investor, then it's a different story. The best advice I can give is find your own experience, your own timeframe and your own way of trading. I had found mine, it's not perfect but I am improving everyday because I don't know where the limit lies. Absorb what is useful, Discard what is not, Add what is uniquely your own. In that manner, you can find your own identity and your true self and not depend on others.
It's hard to trade today. The market is volatile and if I am trading, I am intraday trading only. This is my outlook for STI today. Look at Capitaland, I could have took a 3k profits when price went to 2.43/2.44 if I hold it another day but like I say I already liberated myself from money and I am not in the money making mode. It's not how much money I am making, it's about my observation, concentration, focus and skill when it comes to watching and punting the market.
http://stockmarketmindgames.blogspot.com/2012/05/capitaland-quick-punt-k-time-6.html
Ronald K - Market Psychologist - The Big Speculator
