Last week, I decided to take profit / cut loss on some of my counters after some consideration... From this episode, I realised that I still have not been able to remain completely emotionless in my trading decisions and would need to improve on it.
After spending much time reflecting on what went wrong, I have decided to invest in a stop-loss system (philips protrader) so as to protect my profits and minimise my losses and to swear to strictly follow my trading plan and not deviate from it by getting emotional when making trading decisions.
On a separate note, despite me being rather busy with work, cny preparation, driving lessons, socialising, reading etc, I still found time to try to spot some buying opportunities. I placed a buy order for NOL at 2.22 (50dma) but it was sadly not processed. Other counters on my radar include Swiber, Golden Agri, Biosensors, Ho Bee, Ezra, Ezion and many more.
Moving on to IPOS, I sadly and unfortunately was too busy to apply for any of the IPOS on offer last week. Sri Trang IPO looks rather appetizing and should yield a decent first-day gain if market sentiments are not too bad. Till then, lets see how these IPOs perform. =)
However, trading volume on STI remains low and the market is, in my opinion, still weak and rather directionless and with US markets down significantly last fri, it is still prudent to be cautious when placing that buy order.