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Thursday, September 23, 2010

StockQuest : Is it for punters?

Well-written by one of the CN's forum-regular.

Taken from : CN's forum

Talk about this stockquest contest, I just have a look on latest ranking, many newcomers "made a fortune" on KBUNAI this afternoon:

1 ensonchoong Choong Siew Kee Perak 27.0%
2 chiancheng Ccheng Melaka 21.0%
3 maimyann2054 ANN SEE PENG Selangor 10.8%

If anyone out here is 1 of the Top 3 currently, trust me you can just leave it there and no more trade. End of the contest month I believe still got nobody can beat your score. hehehe......

I don't really understand why KBUNAI could suddenly be included to play in this contest since the afternoon session just now, because the first day when I tried to place orders on MSPORTS, XDL, and not to forget those LCL, RAMUNIA & all warrants, they are all disallowed to buy.

And yesterday I did try to place an order on KBUNAI @ 7.5 cent 1000 lot, this message appeared:

"This counter(3115) is excluded from being traded.Please check our User Guide for the list of counters not available for trading in the Stock Quest"


Personally I myself don't think should continue further on this contest.....
I used proper TA, risk & money management, position sizing & 7/10 winning rate also could only achieve 2.5% net gain for the past 4 days. That percentage already deducting some paper loss incurred on the stock I buy & hold for awhile.

In real world, a weekly 10% gain on top of all the allocated fund is almost impossible to achieve as there's no one will allocate 100% of the $$$ to enter 1 penny stock counter with no risk management.

This contest is for gambler & punters. Just allocate all 100k virtual fund on 1 particular penny stock with huge volume & cheap cheap price, easily 50% gain per day. Just my 2 cents.

My reply in CN's forum

Hi

This is well-written about the StockQuest. Allow me to copy it to my blog and I want to comment more about this contest.

Yes, it is for PUNTERS and GAMBLERS. It is 80% luck using LA. Throw away TA and please dont mention FA. It is only ONE MONTH time. Gaining 30% a month in REAL trading sense is a great feat. So, the contest giving WRONG impression about stock-market(already many will think stock markets are for losers and gamblers!!). It encourages GAMBLING mentality which we suppose to educate the investor circle the RIGHT way of trading or investing, not merely PUNTING and GAMBLING.

Anyway, if one want to win, it is PUNTING. I took my gamble on Tejari, KNM, TWSCORP and such. Tejari losing me RM5k, so I do not have LUCK. Haha. I m out of the contest, I m more concern about my own real trades.

Anyone using TA + FA wont win this contest. That is my opinion.

Good luck, as we do need a lots of LUCK in such a contest!!


TEH

3 comments:

Polite Market said...

I agreed on your idea of placing ALL money to buy a penny stock with no risk management, FOR CONTEST. This only works in contest. I also help my fried place order for UNISEM_WA in OSKIC, receiced error msg that the stock is restricted.

By the way, you have blog for so long, do you recieve some very stupid and nasty comment? Actually they only brighten my days, these nasty comment only make me laugh.

CP said...

Hi PM

I hv blogged for 2 years and one month only, not long comparing to many.

Yes, I do hv comments be-littling me or said my trades are unreal or I hv intention to mis-lead someone or conning some uncles/aunties. Haha ... I m not disturbed by them, and yes, take it as a laughing stock!

Pls a disclaimer and if they are buta, who r they to blame anyone, right?

But ... I think I m lucky as I hv much more good comments and e-mail, showing some appreciation or enjoying my kopi-tiam talk bout markets.

I do gather some info from you blog. Thanks.

TEH

Anonymous said...

hmm...well said ...very well said. A nice way to avoid people commenting that you're experienced but cant win ..haha...!

Of course luck is one of the essence needed..but for you to blame everything on luck ..hmm..just does not sound so right as someone experienced. I've been playing for 3 stock competitions so far. Its just fine for me. I admit i'm out of luck ..but at least more experience is gained.

These stock games are designed with an primary objective to win. The primary objective is for education. To allow all to have experience in trading ...

Not trying to be nasty ..just voicing out my thoughts...! hopefully you wont erase my comments just because of this ...