Friday, March 19, 2010

Silly trading mistakes

Due to my working half day yesterday...and by the time I got home, it was already 2am and to cool down....I ate some fruits and watched CNBC. Saw that the Dow was up and I went to sleep about 3am....didn't really sleep well. Drank coffee at work....so
eyes closed....but brain still "up and running".
Woke up at 8.30am and got ready for the market opening. Normally after checking the status of the US markets closing then checked the morning market status for the region. After that, I would log-in and adjusted my contingent stop-loss orders. Since market was "up" everywhere....adjusted the price for stop-loss for all my outstanding shares on hand. For SMIC....I set it at HK$0.80 from HK$0.76, since the share price has gone up to HK$0.85...and when market "open" it was trading around 85/86 cents range. For the rest....I actually lower them.
Yes...today I did a couple silly trading mistakes. First, was that I took my eyes off my Alibaba counter and the stock dropped from HK$17.10 to HK$16.60 causing me to carry a unrealised loss of HK$3,000, the other one was even worst. After the lunch break, my pc "hanged" at the start so I logged off then re-start it. By the time, it was operating I saw that the share price for SMIC has started to drop from 84 to 82 cents....but before I can get into the system to adjust my stop-loss price it triggered the 1st lot at 80 cents for 280 lots...I managed to adjust the 2nd lot of 280 lots from 79 to back to 76 cents. SHIT....immediately saw a realised loss of
S$2.5K on my MFG platform thingy and I was like "blink, blink away" at the screen. Then....the price started to recover to 82/83 cents range. I just went in for 220 lots at 82 cents to make up for my share target of half mil ( 500 lots ). Got it and the price just "bing-bonging" around that range till at the close it just shot up back to 84 cents. Down 1 cent from yesterday close. With commission and so on....wasted the S$3+K and not counting the mistake about Alibaba shares ( another
S$700 ) for a total of nearly S$4K. Silly or not???
Ok....about Alibaba shares, after I scanned the chart at T3B I realised that this stock was on the down trend for awhile in fact....for about 6 mths now. So, it was a bad call and I decided to get rid of it asap but with at present price....may have to hold till "BT".
Frankly....I was in zombie mode due to the lack of sleep! Realised that in order to be a successful trader....one must have a good sleep and in relax mood.

1 comment:

wINtoTo N aLSo 4D...yEAh! said...

wah lau....4K wasted, could have use it to whack tomorrow 4D on 0237

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tO hAVe FuN wiTH mY liFe aND aLsO wAnT mY loVED oNeS tO hAVE tHE SaME tOO. :) bUt iN rEAL LiFe tHaT sHouLd bE sOOn.