8th Nov 2010 – SHORTIE Mind Set.

Going SHORT is much more difficult and dangerous then going long.

My problem when come to SHORT

 

Item	Attitude
1	CONSOLIDATION <> WEAKNESS -- Don't confuse between consolidation and weakness. -- Below 50MA line has more weakness. -- Breaking pattern such as Head-n-Shoulder will help to increase probability of success. -- Above 50MA line tends to consolidate.
2	MIND SET CHANGE -- If stock reverse and become strong, consider to go long.
3	BIG PICTURE IN MIND -- When indexes are bullish. Try not to do shorting without very good reasons.
4	HIGH GO HIGHER -- Don't short just because it is high. -- The high will tend to go higher.
5	DON'T GO AGAINST FASHION -- Shorting stock like AAPL GOOG when its product is still in fashion is like suicide. -- Should always go long for fashion stock until downturn confirmed.

8th Nov 2010 – My attitude is the problem

It is my ATTITUDE that stop me from being a SUCCESS trader!!! It is time to change.

 

I am not a trader before I got all these:

 

Item	Attitude
1	DON'T COMPARE -- Don't compare your performance with your peers. -- You are fighting with the whole world. If you want to compare, it will be endless.
2	OPPORTUNITY -- Somehow, sometimes we still miss the opportunity even though it is obvious. -- Learn to SEE  opportunity and learn how to CATCH them right on time. -- As long as there is market, there is opportunity, either long or short.
3	FACE THE FACT -- As a trader, you have to face the reality when you made a mistake.
4	PATIENCE -- Learn to wait for the prey to come to your attack line.
5	PAIN THRESHOLD -- Know your pain threshold level before entry. -- Adjust line of attack with pain threshold line for maximum safety.
6	SERIOUS BUSINESS -- You are here for business, not fun or excitement.
7	SLIM APPETITE -- Don’t chew what you cannot swallow. -- Too many tickers will bury you alive.
8	TREND IS YOUR FRIEND -- Follow what the trend tells you.
9	NO CRYSTAL BALL -- Don't predict pivot point. -- See --> Confirmed --> Act