Thursday, October 22, 2009
Trading
Completed the candlestick techniques course from SGX Academy. I must say it is indeed enriching and has spurred my interest in trading.
Takeaways: Candlestick is use as a leading indicator for reversal patterns. We have to use more than 1 indicator to seek confluence before entering/exiting the market. The trainer recommends that we use LT trend line coupled with candlestick. Other indicators such as Moving Average and Divergence can help support our observations.
Did 1 trade last night in the NYSE market :)
Bought an oil producer company on the back of rising oil prices, weaker USD and good company's prospect. However, one setback was that POEMS don't have live feed and orderbook level of the counter. This certainly frustrated me as I did not have the best price execution.
I may be a day trader for my impulsiveness and impatience. But it is certainly not good for the heart. I have to be more patient and know my risk/reward level.
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fangrui .|. 12:03 PM