A medium where i can reveal my feelings, thoughts w/o having to care about the consequences it had on others.

Thursday, April 15, 2010

Learning not to chase a rally too late

Despite having a system, guess, i cant resist looking at counter which rallys like a rocket within a few working days.

Day 1, the stock jump up by 20c, i was tempted to buy, although system already told me its too high a price to go in and its beginning to shown overbought indication.

Day 2, it rallys another 10c more, i was in, making a day paper profit of nearly a 100 bucks with just 1 lot, unbelievable. Same trend, same indication

Day 3, guess what, it rallys again, i have place in order to queue but i cancel it each time the bids kept on moving to the next higher price. The greed or fear of losing this potential opportunity to ride on the wave makes me jump into this man made rally.

Day 4, the wave die down, i was back to square one, or worse, haha...exactly still not so bad a loss, but having free up the exiting holds to get the cash flow, still makes a overall loss. Well, my those tortoise stocks which i held on, they move up instead.

Conclusion
Trust yr system, follow the rules, if i still kept on to my initial foresight, well, im still in the money. Lesson learned and i pay a price for it. Lets hope we will see another wave to bring this mighty ship back to full sail.

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About Me

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A typical underdog among the 6.6 billion homo sapiens who seeks to spend its remaining time to bring happiness to his loved ones. Constantly questioning how much and when is enough to attain a balance of success n happiness and to define one's purpose of existance instead conforming to unspoken society's pressures n norms.