On my seminar, I talked about price action and its uselessness. If one were to see the closing STI bar on yesterday, we saw it was strong as it was open low close high, agree? However how come today the market gap down? Well, everyone will say because Dow Jones crashed 143 points and that's the reason. That's hindsight because we already saw the result of Dow today.
Once again, I wasn't trading and Eng called me on the right time at 5.05pm yesterday to ask me if Dow was going to be green last night. I just told him, it's bad, it's going to turn red. Believe it or not, you can ask him. I won't lie about it because there is no need to as I don't gain credit or receive a single cent. The reason was very simple, it's because the activity was too bullish and the gap was to suck all the public in. I received emails asking me should I cut loss or should I short or should I long? Well, I already mentioned on my seminar I can't advocate because it's your money. I don't want anyone to lose money because of me. You have to decide yourself.
The market is in a volatile mode and so you need to be fast in your trading, else you should not be trading. I am taking a long break in my trading to focus on something else, however I will still do blogging. Like I told everyone over the weekend during the seminar, the big money is made by riding the big wave, so until I see it, I shan't punt the market recklessly even though I know what the BBs is going to do everyday.
For those who are interested in my course and signed up, I will keep you posted on the course fee and other details when the time comes. I can guarantee you the course fee is very reasonable for the things I am going to teach you. It's like David Copperfield revealing his secrets for a fraction of his price. Seriously I don't think David Copperfield would reveal his secrets for 10 million dollars, because since he can make that amount of money, why would he reveal? The same goes for buying a cooking recipe from a famous duck/chicken rice stall. It took me a long long time to think and decide because I know it's a matter of time before I get what I want so why I need to reveal on a cheap price? After much pondering, my business partner managed to convince me and so I decided to do it.
I am leaving the business part to my partner who will decide the business aspects of my course. I might hold a preview session to outline the details or I might not. I know many are interested and seats were running out. I will repeat here, this course is not going to make you an over night sensation or a super trader and I can't guarantee your success because everyone is different and have different appetite for the market, but I will show you the truth and secrets of how I punt in and out of the market fast. If you decide to attend, you can let me know by email. I am revealing the secrets behind the BBs and it's not a mechanical method where you say breakout buy or breakdown sell or indicators crossed and therefore it's a buy/sell. Instead, it's a natural method where we enter a trade based on market conditions. There are no rules just react naturally.
For those who attended the seminar, you saw the course details and I can guarantee you that you won't see this in any other courses where I focus only on the BBs and nothing else. To be proficient, you would need to do real trading. NO PAPER trades please. It doesn't matter how many lots you enter, 1 lot is still considered real trading. The thing is real trading will give you emotional problems where paper eliminates it. If you want to learn to swim jump into the water. On dry land no frame of mind is ever going to help you.
Ronald K - Market Psychologist - The Big Speculator
