Monday, November 19, 2012

Genting - Play Safe First

When the market opened in the morning, the first thing in my head was to unload all my Genting position. There is nothing wrong with this stock, it still looks good, however it is me myself, my emotion and my fear that I cannot control. I used to lost a lot holding through reactions so I told myself whenever I trade, the moment something is not right I am out first. Watch first and be back later.

Genting is currently trading at 1.23/1.235 and I unloaded 150 lots at 1.23 and another 50 lots at 1.225. Money in pocket is always safer. Looking at the minute chart, it seems to have been in the accumulation mode and then breakout. How far will this breakout go? I don't know, but I know I won't be chasing. It's time to move to another table.

Also, if you look into my trade records, you see I get at $240 from Cityindex. I think they are having promotion now, so for those who traded with Cityindex, please check your account for that extra cash. :) Happy trading guys.

Ronald K - Market Psychologist - The Big Speculator