Retire Rich

This is the main reason for the month of April and May for my big losing trade. These were the months where I'm still testing almost all indicators that I know from the books I read. I still have no concrete trading system. I just simply put a cut loss point and bought small positions. Naturally, my entries were wrong leading to cut losses as my cut point was hit. The moment I vacillate (in cutting losses) this leads to bigger losses. 

Obviously, the moment I disrespected my cut loss point -- the bigger the losses. Most of the time, the price of my stocks did not go back up. The worse thing is that if it goes back up, it somehow justifies why I disrespect my cut point. The next time I disrespected my cut loss point -- and the price did not go back up -- sigurado na mapapacut ako sa mas malaking lugi na. 

This happens when I keep on watching those stocks that move higher during the trading hours. The tendency is I bought it at a higher price mostly in the morning. Then the price moved to the opposite direction or just a simple pullback which is supposed to be the ideal buy point -- it is when I cut -- only to see it moved back up. Aray ko po! 

Whe I impulsively buy stocks, the position allocation also is neglected. This is the worse thing I did to my account. This is fatal especially if combined with ignoring cut loss points. 

I'm a person that can not focus on one single thing. I have the habit of doing certain things while doing another thing in the middle of it. It is a habit I somehow adapted from my work -- multi-tasking. I think I need to focus and do nothing during trading hours -- which is next to impossible because I have a day job. Maybe a system that lets me buy EOD and sell positions before I go to work?

Book bundle: 

• After backtesting and the above-mentioned systems, my gain percentage improved. However, my greatest enemy was myself. It's really hard to conquer yourself. Just one trade that I disrespected my cut loss point -- the end result was a net loss for this month. 
• Respect your cut loss point. Respect your cut point. Respect your cut loss point. 
• Respect your cut loss point. Respect your cut point. Respect your cut loss point.
• Respect your cut loss point. Respect your cut point. Respect your cut loss point.
• Respect your cut loss point. Respect your cut point. Respect your cut loss point.
• Respect your cut loss point. Respect your cut point. Respect your cut loss point.
• Damn! I really need to hammer my head to put this in my mind down to my fingers to execute the sell button when cut loss point is hit.

September 2019 - Still a loss?

• Well yeah, it's still a loss. 
• I respected my cut loss point. 
• I followed the system.
• But it seemed the market was very difficult. I mean, I don't know about the veteran traders, maybe they're still profitable.
• I don't want really to put a lot of weight regarding news about "trade war" or "instability in the Middle East" because I relied on the chart alone. Ganoon daw dapat pag chartist/trader eh. 
• But the setups are there but it doesn't materialize. If it materializes naman, you have to sell with minimal gain because the set up says so. 

On my next post, I will share the outcome of my first ever IPO participation. I will detail the experience po.

Sa mga vets dyan. Mag advice naman kayo sa comment section kung saan ako pwede mag improve. Thanks.