KLCI MACD crossover

Learned about MACD during tonight's e-learning.. KLCI's MACD showing bearish crossover (signal 9 crossed and is now on top of the MACD blue line; when the blue line crosses and goes on top the signal line, it is bullish crossover or a buy signal).

Let's wait and see if KLCI comes down in the near future.

Tutor said this chart explains everything... KLCI peaks get higher but MACD peaks get lower - confirmation that KLCI is coming down (possibly sharply!)

I guess it's a bit too late for me as I am stuck in many stocks and I didnt cutloss.
Tutor stressed "Mindset, Money Management then only Method"... hmm...

SKPETRO - narrow escape

It was pure luck that my SKPETRO order did not match the other day when it dropped. I DID NOT realise that it's financial results would be announced the next day -- and it suffers substantial loses!

From the chart, I cant see sign of rebound although 20MA just crossed 200MA.. it may just turn around... and the next support level is around 1.76.. unless of course, crude oil rebounds sharply... 

Narrow escape from being stuck in this stock... as if im not stuck enough... phew...
So...
What is the lesson learnt?

• There is always a reason why a share drops or goes up suddenly - check the date of the release of their quarterly report!!

KLCI RSI 70

23/3/2016
KLCI RSI touches 70 today and I am still holding many stocks.... sweating cold sweat...
When will I break out of this cycle of being at the wrong side of the market?? and today I thought of buying SKPETROL... luckily my order didnt match..

IFCAMSC - my trades

IFCA - a stock that I have traded a few times since it was as low as 0.40. My mum bought when it was 0.125! I sold with a profit at 0.8 after it shot up and broke 1.00 last year. I remember i3 forum was so "happening" and noisy as people were "celebrating" IFCA leaving penny stock and some even predicted that it might go to RM2 just like Inari. Now thinking back, I was really ignorant as I was hopeful that what those "sifu" said would really come true. I hung on tight to my IFCA. But as we all know now, my sweet dream did not come true - the price came down sharply and I had to sell to lock my profit.

Early this year, I bought IFCA again... emotions... I know I should not ... but I guess I was hoping to "revenge" on this stock and prove that I can earn more from it. I entered at support 0.85 - it broke my support, I failed to cutloss and of course, it went on to break 0.7 and gave me mini heart attack a few times. I have been stuck in IFCA for a few months now, waiting for chance to sell... seems like a long way to go for me to break even...

So, lesson I learnt from trading IFCA?

1. Do not listen to rumours, look at charts.
2. Cutloss by following your own plan.
3. Do not carry emotions - dont fall in love or search "revenge" on a stock.

9 months and what have I done??

I remembered the day I started this blog and i have always wanted to update it... but my bad friend, Mr. Procrastination, kept me from doing it. Finally after 9 months, this is my second entry. So what have I done, in these 9 months, to work towards my financial freedom??

1. I opened an account with Malacca Securities
I started small by depositing 2k (read about someone starting with a capital of rm500... so, I guess I can try out with 2k, the amount that I can afford to lose it all - Guess what? I already did. and I deposited another 2k and another 4k so far. So the total will be around 8k?? Not really sure if this is a correct decision -  to "dump" real money when I lack knowledge in trading...

2. I joined CP's Stock-Watch group (but quit early this year)
In fact, I joined before my first blog entry. CP is an inspiring man. He was a teacher - I am a teacher. If he can do what he is doing now, why cant I?? And I have a few advantages over him - I started earlier than he did and I am single which means no burden! His SW group was good as I learned a lot from his weekly meeting and analysis of stocks. However, it can be confusing and distracting sometimes as too many stocks were mentioned by other members and as a newbie, I do not know how to choose. Many of his members make money but I did not. And CP's trading period is too short for me. As I only buy small, I need to wait for the price to go up more to be able to sell for profit. So I quit SW group but instead, I joined his e-learning!

3. E-learning
So from a blind follower, I become one of CP's students. I like learning especially about things I am interested in. I do read books about reading charts but they are just knowledge on paper. I need experience and CP generously share with them with his students. I have joined a couple lessons and so far I learned a couple of things:
a) How to reduce risk (prolong trading period, buy only fundamentally strong stocks, calculate the downside that I can afford to lose)
b) Price-volume divergent (when a stock goes up, so should its volume or else when no volume supports the price, it will come down soon; when a stock comes down, its volume should go up as it means someone is absorbing the selldown or else the price will move sideway)
c) Moving averages (for overall trend - above 20MA, short term uptrend, above 200MA, long term uptrend; as support and resistance)


I am glad that I write this as I am having difficulties remembering what I have done and I begin to realise maybe this is all I have done in such a long period of time. My progress is way slower than I imagine!