Wednesday morning ... the pace slowed down. I really enjoy the slow-quiet pace ... as I m always on 'something' during weekdays.
Let me check on Genting and GenM as I wrote about these two on Monday.
Genting : I alerted the group to buy Genting at RM6.60 level as I saw some accumulation there ... RM7.88 is the current resistance ... it shot up all the way up there ... for profit taking. A good pullback to nearing RM7 ... formed a 'morning star' and shot up all the way to RM7.80 level, hitting 100MA. So ... on Monday, I posted in www.tratles.net that Genting is potentially reversing. Yesterday(Tuesday) confirming my points ...
e-learning : Last night, I have a session of e-learning(for those interested to learn about trading thru online, contact me as I m starting a new one in Jan2016 ... current batch is till end-Nov ... 4 months with me, weekly basis. Live trading and explanations)
AirAsia : Resistance at RM1.40 ... now is the support.
We were discussing about RRR and using of indicators. Examples given were my current trades (BJAuto bought at RM2 ... FGV bought at RM1.60-1.62 and AirAsia bought back at RM1.42 for breakout) Most of them in my trading group, and knew my trades taken ... I used the e-learning session to explain to them WHY AirAsia is a good buy at RM1.42, tho I sold at RM1.39 recently!! The RRR is good with indicators are positive!! We do NOT buy at RM1.39 but we buy above the resistance(turning as support) as that will be better RRR.
GenM : This is nearing to resistance too ... so, we do NOT buy nearing to resistance ... simple logic, right? Candlesticks reading is a MUST to learn if one is to trade. Apply simple trading method and calculate the RRR ... together with indicators, we should be able to trade consistently ... provided we are patient enough to wait. Hey ... we bought below RM4 ... selling at RM4.40 is a 10% gain in less than a month, ok? Patience pays ...
So ... when are we buying stocks again?
When the market is bad ... the stocks battered to the lowest level and indicators showing strength of recovery. If one is newbie and don't know much, do not take too high risk by buying into penny-stocks or those very volatile ones. Perhaps ... start with index-linked counters. I started to focus in them.
Besides Genting and GenM, other index-linked counters we bought were Tenaga, Sime, IOICorp, YTL, Axiata, Digi ... and recently I sold : UMW (we bought before the 10cents dividend, around RM7.90).
Many have benefitted by joining my trading group as we could learn 'live' trading ... not after sold, then only said I bought this-that. Then, they could join my e-learning to learn how to plan for a trade, reasons of taking the trade ... gaining the experiences and knowledge which will be VERY crucial ... going into 2016-2017 ... where we are nearing to the end of bull-market.
contact me at firstname.lastname@example.org to join my trading group. It is OCT now ... I have sold many ... and will be selling most as market is still charging higher. It is going for a correction .... while I m preparing for another shopping-list.
let me know if anyone you know want to learn(we could only guide those wanting to learn how to trade in proper). Like my facebook page https://www.facebook.com/tratles ... and I will try to answer questions from there.
Have a nice off day.