Okie... day one trading on paper. I know, it's only on paper value, but I'm taking this seriously to form a good habit from the very beginning.
You know, I was never educated in finance and eco at all until Iast year. So, if I can master these skills, I believe so can anyone!
Well, after looking at the market and discussed with my mentor, I've picked two stocks to trade, both long (buy) positions. The first one was Wing Tai in SGX. I bought it at $1.53 for 1000 shares. The second was from KLSE, the Hovid for 23.5 cents per share. I took 1000 shares as well.
To maintain a good trading habit and for learning purposes, I keep a trading journal. When I figured out how to include an excel file on the blog, I shall share the template I've created.
Well, I was very eager to check out my trades after work. WingTai closed at the same price as it opens, so I made no profit. Hovid is better where it climbed to 25 cent at closing but the takings I made doesn't cover my commission fees for the broker, so I will keep holding the long position. In fact, I am tempted to buy a little more of Hovid as it is starting to rebound.
My next tast is to learn more about indicators on technical charts to better pick up signals. Currently I am reading from the following two sites:
http://www.investopedia.com/?viewed=1
http://stockcharts.com/school/doku.php?id=chart_school:overview:technical_analysis
Alright, need to get back to more work.... til the next trading day...
Interesting :) Socia
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Interesting :) Social Media/Marketing Intern http://bit.ly/iPhjMh
13 years ago
2 comments:
Just my 2 cents opinion:
Why bought Wing Tai? It appears to be a down trending stock! Though it reaches its support line 1.43 and was bouncing back a bit but there is no sign for a trend reversal yet.
Always follow the trend! Buy the up trending stock! Or buy low sell high in the side way market when it reaches its support line. Else choose the weak and down trending stocks and short them!
Thanks for Ming Jong's comment.
As I'm still new to the game, I'm still learning to get the feel of anticipating the entry point. I'm not sure if I read the signals well.
But your point is taken and appreciated.
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