Thursday, September 18, 2014
Updates : Scicom and DRB
Scicom : What a good run ... hitting 1.62 today. It was at 1.40 when I told those chart-nexus members to buy Scicom as that is easier to trade, using indicators. Dividend 2cents taken.
There is another counter I mentioned to them, DRB. Buy DRB ... was at 2.20, cut-loss 2.10 ... if it dives further. DRB hit 2.32, before correcting to 2.24 today. I sold half at 2.29, to take profits and buyback.
Those who went for chart-nexus traders meeting are those who attended their technical trading course. I do not believe in using many of the indicators or more lines in my charts. Simple basic ones as guidance ... afterall, those indicators are mathematically calculated. Price-volume actions could be used more effectively in counters such as DRB or Scicom, rather than PUC etc etc.
I told that to the speaker/trainer that day ... we need to know the stories behind the stock-movements as we have 1000 stocks. To trade well, we do need to plan ... and know why we are buying into the counters.
Well ... don't know when I will be attending another chart-nexus meeting again. I rarely free on Saturdays.
By the way, I am planning a trading workshop next Sat-Sun. I prefer to teach basic technical ... and more on the planning(money, risk management ... market psychology etc).
Just hope I could attend another meeting or market-talk next month.