no clear pattern for me. if i consider double bottom, maybe can go to 34 sen upon breakout

THHEAVY active again

what review?

ah that one....ok

what is EM?

TM, hammer formation 2 days ago, and now, bullish engulfing?

err.....VIP 20?

I crony...pay cheap price for it

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Added on October 23, 2012, 4:37 pmFKLI





Flag pattern spotted. break the flag on 17/10, retrace back to test the support yesterday, and rebounded.

Based on the pattern, FKLI may be heading towards 1720

my favourite entry, first retracement after the breakout

DISCLAIMER:

Not an invitation to buy or sell. The information provided is merely for educational purposes.

This post has been edited by ciahcra: Oct 23 2012, 04:53 PM

FKLI looks strong, drop 2 pts only?

yep, 1hr chart got hammer like and confirmation green candle

1hr chart when price 1654-1660, long signal? not perfect hammer, but can consider la

at 15mins no confirmation to short, so i won't short....

I'm more of a trend player, so i follow trend. meaning, if uptrend, i'll long on dip, and vice versa.

lol yeah, but if u look carefully, there's no confirmation candle following the shooting star....

Disposed it today, been holding for 1 very long year! tired already....lol

gonna try add more TM, looks like got more potential, especially if they win EPL right

tired of waiting, when the hell can I take the money out and buy something. haha

anyway, i kinda need the money at the moment, so better sell it off, and use some of it...

the rest, maybe I'll plough into other stocks

my fiance working in TM

anyway, I'm thinking about BSTEAD. CPO seems to be rebounding....any input on this stock?

I prefer to stick to the same timeframe...

If i keep on changing timeframe, I'd probably just looking for reasons to justify my decision to enter, not enter based on whatever chart gives me.

My timeframe is 1 hour, and I use daily to see overall trend, and the possibility of continuation and reversal. I use 1hr to find trigger.....

even if you use 30mins, need to do Risk Reward Ratio as well. support can be seen at 1669. you entry could be 1670, upon completion of the candle. your cut loss could be 1674.5 or 1673. Even if got confirmation, the RRR does not meet my criteria, so I won't go in.

just my 2 cents

This post has been edited by ciahcra: Oct 24 2012, 11:14 AM

need to look at bigger picture before deciding to short or long

I wouldn't say you're not good at shorting. If you're not good at shorting, you're probably not good at going long too. When you're trying to go against the trend, most of the time you'll get it wrong. I'm not sure about you, but that's what I conclude from my experience.

the last time i short, which I think i told you, was because it's a downtrend, albeit a short term one, and the shooting star formed at the upper channel of the trend. I guess I got lucky also, coz that's the last point to short before it breaking out

It's very hard to predict reversal. the best way you could do is just ride the trend. On the 30mins chart u showed, clearly it's a uptrend, and strong one, breaking previous high of 1671. so the best way to go here, is to go long on dip.


I have 2 rules: I don't trade breakout, and I don't trade without confirmation candles.

Even when I followed my rules religiously, my success rate is only slightly more than 50%. So, I have to admit, no matter how good you're, the market is still random, and you only have 50-50 chance to win.

The only thing that keep me in this game, is I cut loss very fast, and I let profit run, and strictly follows the rules that I set.

This post has been edited by ciahcra: Oct 24 2012, 02:17 PM

lol what stories? how I loss RM10k from CPO in 2 days, because of my hesitation to cut loss, and had a very high hope that it might turn around? or how I loss RM20k from trading crappy stocks, because someone recommended them to me, and I just blindly bought them, because everyone says buy? haha

I admit I still make losses here and there. Like I said, my success rate is only slightly more than 50%. So in 10 trades, I will lose in about 5 trades. That's why the only way to win, is to keep losses small and let profits run.

My objective is to have RM5k monthly income from trading. How I work it out? I set a target, how much I should make a day, on average. That work out to be RM250 a day, which is not that hard for me, because in FCPO, that requires you to win 10pts per lot. My trading style vary, sometimes I trade everyday, but sometimes I let it run 2-3 days before I take profits. However I cut loss very fast one! haha

My suggestion, set a realistic target. I know some people want to make so much money in a very short period of time. Not to say that it's impossible, but it's very hard to achieve. Set a realistic, easy to achieve one for starter, so that you can build your confidence. Over time, set higher targets as your capital getting bigger.

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Added on October 24, 2012, 3:23 pmFKLI 30mins



First, the bigger picture (daily chart)

Very obvious it's still an uptrend, and with the formation of the flag, and the break out from it, suggest the uptrend will resume

Second, on your 30mins chart. The price keep making higher low and higher high (characteristics of an uptrend).

Third, the break out of the previous high at 1670, indicates that the trend still strong.

Why I didn't enter eventhough there is confirmation candle? because of all the reasons above, plus the shooting star does not formed at a known resistance level. If the shooting star formed at 1670 follow by confirmation, I'd probably go short as well.



This post has been edited by ciahcra: Oct 24 2012, 03:23 PM

not pro yet.....just speaking base on my experience.

to be honest, I'm here looking for anything that can bring my success rate to above 60%.