[duit] why I am not a qualified trader




A very good morning to my fellow readers,

As you are aware I have 2 biggest mistakes of FGV-warrant and HSI-H2C trades recently. The cost that I need to pay for my mistake is huge and dont think my silent followers have lesser losses than mine.

Like I say there are plenty of success stories in i3 and newbie and old bird also can read those stories everyday.

Today, I would like to share my bad experience and briefly tell why I am not qualified to be a trader. It may be some reference to newbie should you want to avoid the same mistake like me.

1) VIOLATED CUT LOSS RULE:

 Ideally, I set 8-12% for my cut loss principle in the risky instrument such as bad sentiment counter (FGV) and highly volatile counter (HSI-warrant). Without cut loss action 12% paper loss might become 25% in the next trading day due to evening futures move against my bet.

2) TRADE FOR THE SAKE OF TRADE:

It should not "always" & "forever" to disobey the idea of trading to make money but not to trade for the sake of trade. I traded HSI-H2C recently when I was completely not available to monitor. There I missed out most the exit plans.

3) T4 AUTO CUT-LOSS >> T4 AUTO CUT-GAIN

If I can conclude if a person (like me) within 1.5 year has more than 3 trades need to be auto cut loss by central system mean he/she does not know how to manage tthe trade. Worst still when we have less than 1 trade that successfully cut-gain on T4 day. This imply a person knows how to choose stock but not competent to manage it either gain or loss.

4) wii update more later



Remarks: Dont repeat my mistakes so you are one step nearer to be a good trader .


http://klse.i3investor.com/blogs/notqualifiedtrader/128555.jsp