It is Sunday ... yesterday we do have our monthly tratles meeting. Due to many taking sideline stance, not many came for meeting. But, we do discuss about some breakout stocks such as KLCCP, Harta and SKPetrol. And also HSI dropping 600 points, I was busy doing shopping list and to buy(and hold) into a HSI-stock ... but too many dropping nicely to support, oversold.
i3-forum : I was told by a tratle yesterday that 'X and Y' still having fun in the forum, insulting ... making fun of me. Hmm ... as I do not read forum there, I think we should let them be. It is their lives, their choice. So, I will maintain focus in my own life, my own trades and my groups.
stock-watch : Not many are trading as the fear of GE is great. But, the current theme ... construction-properties ... and now, bird-flu with O&G ... we could go for that. And HSI ... so, I m sharing some HSI stocks with the stock-watch group, in case of some of them might want to take the risk.
FKLI : I might want to create another group to discuss FKLI. It will be closed-group only for members. Well, I dislike noises ... and difficult to focus with many things being shared. It seems that AmFuture rate is cheap. Do check them out as I just opened one.
HSI : ZhaoJin, AirChina or Harbin. Which one should I pick? One day, when I am retired from my full-time teaching job, and trading ... I will learn HSI-future trading. They do have those 'mini' ... but I hv yet to explore such instruments.
Being independent is VERY important in our own trades. Doing our own searching for opportunities could increase our knowledge ... learning more about the fundamentals and technical will increase our knowledge and trading them(in real) will increase our experiences. As I m into my 5th year in trading, I have tested and traded many type of instruments ... stocks(in KLCI, SGX, HKSE, US) ... ETFs ... warrants.
Learning corner : Resources
So, getting good resources to read, acquiring our knowledge is very crucial to our trading mindset.
1. Books : Buy those basic books written by local-writers ... that is the first step. Then, after a year or so of reading these materials, move on to more advance books.
Example : i do read simple Milan's and Pauline's books. Ho Kok Mun's, Andrew Chia's, Othman Yong's ...to Adam Khoo's series of books ... these are just few to mention here. Get hold to some of them ... invest in buying some of these books ... and read-read ..a few times. It is not easy to understand the terms and concepts by reading only once. majority newbies taking this FIRST STEP too easily, casually ... and could not build the strong market-understanding foundations. Do not be stingy ... buy those books. For my tratles, one may always borrow the books from me. Just motivate ourselves to learn .... more. I still treasure my Jess-Livermore's book.
2. Magz/Papers : At initial stage, I do read many type of magz ... consistently reading every pages of The Edge(now only read the headlines and pick only related to my trading idea for the week) ... now, I do buy Focus(to support Clement?) ... I do still have Personal Money, Malaysian Biz, Share Investment .. to name a few. If you are a total newbie, buying The Edge/Focus will be a good start ... but DO NOT read those papers to buy/sell any stocks. Try to read as much ... to get the feel of how market re-act to what written there. Do follow The Star(biz) in daily basis, if possible. Be consistent. Write down what we have learnt ... and for over a year, you will get what I mean. Majority of those in market is not consistent, not discipline to acquire knowledge ...
3. Websites : A portal like i3-investor is very helpful and good(minus some bad vibes and noises in the forum). Check out the dividends page(my only visit to i3) ... gathering information from few of these sites. Theedge-online, The Star-biz, NST-biz and many more. One of the most important site is our bursa-malaysia site itself. That should be our daily readings for update/info.
4. Blogs : There are few blogs written about KLSE ... if u r reading my blog, u might end-up getting frustrated with many of my blah-blah ... and as u r losing patience, you might get upset. So, move away if one find a blog is not worth the time to even look into it. But, I m talking about a few blogs ... to read to acquire some knowledge shared. By the way, I assumed that #1 and #2 being done for 1-2 years first ... not reading blogs first. And having a strong mental, good mindset to learn is very important. Mind you, 80% of those in markets losing money in markets due to lack of good mindset(trading/investing).
Example : I do not read blogs anymore ... but at times, it is worth looking into Dali's writings ... or AlexLu's technical views. Ben Gan's is short-simple, AlphaChart has not been updating much ... or Remnant's too. So, not many good blogs around to read. I do not know any new blogs as I do not read blogs anymore.
5. Broker reports : I do read many broker-reports at initial stage to gather much needed information, how analysis being done ... and understanding some businesses. Do read as many ... but NEVER really bother to check their buy-sell call. In fact, we should be contrarian and do the opposite. Imagine that these reports being circulated to retailers ...and for them to read to trade. Hmm ... you trade, they earn from brokerage fees, right? I do still read selected broker reports ... especially those analysis on sector(s) rather than individual stock.
6. Public talks : Do attend some of those talks ... free talks or even pay for the talk. Be willing to pay some fees to acquire right and good knowledge. I will travel to Johore this May for the investing-expo. I have to be selective as a few days of traveling and away costing me a lot of $$$(cancelation of classes ...a weekend, I could have 10 hours of classes. Calculate the rate and amount. ouch).
Note : I will give a public talk(free) about markets during election. Will fix a date and confirm that later. It needs to be soon ... next week?
7. Trader's group : There are many such groups. I m only focus in my own closed groups(tratles and stock-watch) and will stay in the chat-box to keep each other informed. But, some writings in some groups may worth reading. Yeah ... expect noises from many retailers ... in open public group. So, I prefer my closed-group.
7. Trading Journal : i do use my personal trading journal as my own guide. We all should write our own trading journals, in details about our trades.
Example : Why do I buy Harta-wa at 1.13 on Wednesday? Why sold at 1.24 on Friday?
This should be written in a journal on the WHYs. We do not need to tell others, just for our own references and we could use it in future. Not many in markets do such donkey's work as they view it as tedious and/or they are not informed of the importance. A good trading course should mention on these. I do share these in module-4 with my cohorts when we speak about risk-reward ratio, trading plan ... and reflection on our trades.
So, we were reading about the bird-flu days ago ... we saw supermax and topglove moving ... and Harta was lagging, pending breaking RM5. Then, we check on the Harta-wa ... which is trading at low premium, with long expiry date. Of coz we do know the good fundamentals in Hartalega and also knowing that the whole glove-sector has been lagging behind KLCI. It needs good news to move. And now we have one ... We check aorund for some news related and check some charts. The minimum wage policy is affecting the sector too. We check USD and rubber-prices. We check some broker reports ... search some news related to the sector. Ok ... the noises started ... many more moving in. In our chat-box, someone mentioned Supermax days ago ... so, quietly we grab the laggard Harta-wa, in my view. Pending breakout ... RM5 ... Harta broken into new high, Harta-wa gapped up, touched 1.30 and I queued 1.24 at resistance. The volume increase is high, gapped up to resistance. These are pointers I shared with my tratles-group on what to look for, when to sell for profit and now, how to buyback next week if the trend prevails.
So, try to write a detailed trading journal ... the entry point, the exit point ... the reasons of trading and the emotions in play. Someday ... say, a year later ... we could reflect back and notice on our good/bad trades. That could be our own resource .... and only for us to keep.
8. A trading 'mentor' : A session of sharing with some experiences and listening to their talks. I am a mentor to many newbies... and those experienced ones in our group, sharing knowledge and experiences. That is how newbies will be more exposed to markets. There is no short cuts. Noisy forums could not help much for newbies.
i have to go .... long time didnt write so long. haha
have a nice weekend and hope my writing here could give some simple guidelines to MANY newbies out there. share this post with your friends if u think it will benefit them, minus the blah-blah. haha
I could be be contacted at email@example.com if one wish to join my groups.