Just when I spotted the K Turn on Friday and thought I would made a lot of money, my losses mounted to 5.6k as of yesterday. I was trading very quietly and in the process I was in a out many times which costed me money. Like I always say, losing money is OK, but never lose confidence. Wealth is of the heart and mind, NOT the pocket!
Yesterday, I lost patience many many times which I think contributed to my losses. In my mind, I already knew what was going to happen but because of fear and patience, I just keep doing silly stuffs. I hate myself for that and I know if I want to make it, I need to change. I need to do swing trades instead of intraday. So today, I am again taking a rest and clear my mind.
Look at my trade record, I lost 5.6k yesterday, and I made back 2.5k from morning today and 3k before market closes yesterday. Well, if I could have more patience, I should have made like 7-8k today if I did not take my Noble and Capitaland trade yesterday. I should have waited it till today since I already spotted the NO Supply and K Turn yesterday and last Friday. I can't blame anyone but only myself.
http://stockmarketmindgames.blogspot.com/2012/05/sti-no-supply.html
http://stockmarketmindgames.blogspot.com/2012/05/sti-k-turn.html
As for that comment yesterday that said I claim credit, well, I don't claim anything. For what I need to do that? I use my trade record to back up actions, that's even better than talking. Also, to all the anonymous, if you like to flame me, that's fine and I allow that, however put your name down to back up your speech. I will respect you even more. Like the TechnicalAnalysis guy who says STI would reach 2220 at May 15th, he disappeared. I would appreciate if he appear and give his comments. It's strange, I always get flaming but when I back up with my records or when I am right and anonymous is wrong, they disappear. Worse of all, they don't even dare to pen their names down. I respect everyone even all flamers, because everyone makes mistakes. When I make mistakes, I will admit, why can't you? There is nothing to shy about. In my K philosophy, I said: "Mistakes are always forgivable, if one has the courage to admit them."
Oh one more thing, NO Supply means no one is selling, NOT less selling. Can I say NO money means less money? Or can I say NO discount means less discount? I am already using simple English, but if you don't understand, I can't help it either.
Ronald K - Market Psychologist - The Big Speculator
