Wednesday, November 18, 2015

Trader's Mindset

Noon ... I shared with my e-learning group (2H2015 - cohort3) about mindset. Next week will be the last series of the class.

This month, I m sharing about MINDSET as it is the most important of the 3Ms - Methods, Management and Mindset.

Here ... I am sharing what I shared with my e-learning group last night.

#1 : Trading is not easy : Do not listen to media, broker-houses, forums ... who are promoting 'trading'. Invest in good companies ... and ride on the uptrend. Whoever said trading is easy ... either they are selling us 'something' such as software packages or their trading courses ... or they want us to trade frequently to earn commission.

#2 : cant recall ... will write later

#3 : Stay focus : Do not use too many indicators or looking into too many reports. Checking on media will drown us with information too. So ... focus in few stocks to trade well (such as Myeg, AirAsia and such). Do it consistently and focus in our own trading system, trading plan and work on it.

#4 : Take is as a biz : Seriously ... stocks are biz-entities. We are not buying empty papers ... we are buying into the biz ... also, be serious in our trades. LEARN ... plan and execute. It will take us 3-5 years to understand trading .... just as when we venture into biz ... it takes TIME to learn and face challenges.

#5 : Growth Mindset : Always remember that there are many things we do not know as we are new in trading stocks. Learn ... learn and learn.

Myeg : A short one-day trade ... grabbed RM3.24 and RM3.30 during closing ... sold yesterday at RM3.36 and RM3.42 ... as 3.45 is the resistance. Many of my trading-members sold above RM3.40. Good short trade. To me, RM3.45 resistance is a sell ... wait for breakout only buy.

Sold Esceram and AirAsia yesterday for small profits.

But the good one is Hevea today ... as I was asking members to buy/collect around 1.35 level before the report out. Good report ... I sold partial at 1.41 ... now at 1.48, I will hold or add.

I am promoting my e-learning group (Jan 2016) as my current e-learning batch  is 'graduating' ... soon.

I have created a facebook e-learning group just now as I have few enquiries. Please add me in.

Lunch time.


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