$: thanks for the 16% RSi.

YY: good morning!

capt: interested to know why u picked SKPRES in the 1st place? i am seeing ascending triangle before the breakout, support tested and going higher.... MACD wave is well supported.

will that be wave 5 developing now?

capt: Greek prob drop a big bomb this week to start the selloff... or they manage to cut a deal to start a rebound! or Rosmah replace jib kor to send CI skydive!! :)

$: u r using last lowest 16% (oct 14) as support. Now its testing 23% support level (dec 14). like capt said... will be interesting to see the next sell off... anyway.. cant predict where the market goes... back to basic.. lower low or higher high to enjoy the show!

capt: FKLi still a huge discount to Cash. A bit skeptical whether CI found the bottom yet. monitoring O&G and palm oil stocks since crude and fcpo are rebounding!

capt: thanks for the update. waiting CI to build base 1st before going in!

Duit: CI 1743
FKLI 1730...gap to be filled at 1727.

8% divi is for FY 2014 if i am not mistaken

Good noon!

Con: monitor fkli... if break below 1744 / 1740. Be careful with your ah bah liao! Bear and bull tug of war there.

Didnt know Bursa will charge these kind of practices! Those syndi been doin it all these years...

http://www.bursamalaysia.com/corporate/media-centre/media-releases/3341

$: your friends?

Somehow i dont have feeling for salcon. Correct G!

Nobody touching ah bah... y susah susah foreplay? Monitor G spot express now... i think got 8 bits to flirt!

AT: sure or not? Nanti ayam berkokok got lost inside forest kena BBQ.

Sorry... i confused like other silent readers... which logging company are u guys analyzing now? Time to punt balak company? What forest? Got different type mei?

Con: forgot to thank your reading on ah bah! Failed to see the abc wave when it hit lowest. Will recheck 60min chart on it.

$: if the higher sell bit is 10 lot 10 lot...count me in to blast together. If 100k lot each sell bit... u go blast.. i piggy back for 3 bits good enough!

Duit: yours are break high theory... my weak heart cannot sustain that!

Duit: lower time frame... 15min 30min... 5 min mcD lower low...dont quite like the momentum!

SLP holders:

Watch for 1.24... if cannot break through.. short time frame will form double top... advise to take profit!

Capt: how is the N show last night?

Trading plan for SLP:

Resistance 1.24
For those holding 5k share and above.. can consider sell at 1.25 - 1.27 area.. 1 or 2 bits up from resistance..

Buy back again intraday at 1.18 1.19 area which is the support area. Your cost price will remain at your 1st purchase price.
You will improve your risk to reward ratio.

For those holding under 5k share... ride with the trend will do.

STOP LOSS 1.08

Please set your own Trading plan.
I do not hold any shares on slp.

eh sai lar! cin cai jiak!

Con: on muhibah... i am looking at wave B on the current peak. whats your reading?

$: for us.. we can only see the code if we buy and sell continuously..
u no need buy sell can see code also?

have a good evening!

duit: interested to know how u can see brokerage code on your trading screen. u must have LEVEL 4 5 or 6 to have that info on your screen.
will write u snail mail!

duit: will join next time!
happy for u guys!

SLP resistance at 1.24-1.25 area... tomorrow should be able to reach!

FKLI stabilizing...
I think TR on the way!

After market close baru sembang...tied up now.

There's a setup on SLP this morning... must crack 1.18 to scale higher..30min chart looking good... if drop back to 1.08...can forget about abalone!

$: your access level. U r able to see brokerage house code.

Duit: what level u have on your trading screen?

Dunk: sorry...asking u to take profit on slp. My bad!

Con: ssw3 of sw3 should end today followed by small rebound of ssw4.

Hawk: 1720 will complete w3 from 1825 right?

Hawk: whats your target of Ssw3?

Capt: i kira Kira ssw5 should end at 1750 area. If north bound train stop at 1720 area, i dont know how to count liao! Thanks for the insight. Will nibbling some oversold counters when selldown lax a bit!

Capt: thanks for the uodate.. I would have to treat it as wave C since it violates one major count 1768. The final destination of wave C would be MAJOR 3IV.

CC newbies oldbies honeybies and bumblebies,

Preferably keep more cash now. Look at the main trend now..forget about individual stocks. Live to fight for another day.

Watch for CI 1750. Once broke, 1700 coming.


Dunk: take profit on SLP

Capt: after looking CI chart, i might have to agree with Con and hawk ABC correction. Ci closed below 1768 violates the 1st major wave count already. 1671 to 1867 have to be wave B. Nw wave C is unfolding... final destination have to be at least or below 1671.

Con: good works!

Nomanland: real time data or end of day?

Profitman:

should publish this article at TCB blog. in the future ... kumpul kumpul can publish book to sell liao! : )



23/5/2015

Group Think Vs Trading Plan

I always want to write this article to tell my readers about the important of a Trading Plan and finally I got my son to help me to put it down on words.

This happens a lot in social circles and discussion boards. It comes from insecurity. You've seen it many times, someone comes into a conversation and they say things like, "I think this counter xyz going to move in a big way tomorrow, I heard it from Mr. ABC. You guys think it's a great opportunity right?". What seems to be an innocent and harmless "hearsay" stock tip is actually an individual seeking confirmation from his or her peers. That means that person, on a deep subconscious level, is actually not sure whether or not this is a good idea to trade in Counter XYZ. That person has no confidence in their own system or trading plan, or even worse - they have absolutely no plan to begin with. They want to hear people say to them, "Yeah! sure make money bro!", so that they can feel secure. Do not be like that person, as you have no reason to be.

You are armed with technical knowledge, and you have many opportunities to research a counter before going into a trade. Not even that is fool-proof, but a trader with a plan is bound to succeed more than an insecure group-thinking person. Why?

Simply because doing the hard work and analysis gives you a structure on how you will do your trading. After that you set your own trading plan, know your Entry Price ,Potential Rewards and Stop Loss level. You already have the three most important parts of information for when things go right, or when things go wrong. Meaning to say, you don't need to ask ANYBODY for confirmation on whether or not the trade is going to be a smart trade. This is because you know exactly when you want to go in, or when to pull out. If you stick with your trading strategy and plan, you need not worry about someone else's insecure statements like, "Aiyoo I think this counter going to go down further lah!".
I've seen big groups of people being dragged down by one outspoken, insecure trader - because they were not strong-willed or disciplined traders themselves. With that in mind, always remember to separate your emotions from your technical analysis. It's impossible not to feel any emotion, but try to be as objective as possible. Stay away from insecure people trying to take other people into their black hole of insecurity. Avoid group think, and contribute / help other traders on a basis of confidence and discipline.

Happy Trading,

Matrixcool

nomanland: what charting software are u using?

IFCA punters... be careful now! Wave c coming...

Capt: me kind of concern after it closed below 1770. Noted on w4 no need 5 waves sequences

HAwk: will monitor whether it will be tokyo drift or kl drift?

Hawk: ssw4 more like it. If ssw2 now, that wud be scary for ssw5! Thanks

U treating 1867 as wave b peak?

Chun: u familiar with basic wave yet?

Con: i am treating this w4 as normal ZZ abc 535. B completed at 1827. C processing now.. i am seeing sw3 of wave c completed this morning at 1755. Sw4 of wave c processing now. same reading with yours? Your ssw2 is confusing me...

Thanks

Noisyboy: if u cant monitor the market during trading hour, i would suggest u dont get involved in fkli future yet!

Start with individual stock 1st

Wait... i think i misunderstood your ssw2! Lemme digest again

Still ssw2 of sw3? Tot sw3 done this morning...sw4 processing now... a bit scary if sw3 Not done yet.