Sold - Milan Station (1150.hk)

The bloodbath started as soon as the suspension was lifted...

Apparently, the controlling shareholder and the chairman of the company has placed at least 280 million shares and up to 375 million shares (which represents all his shares), representing 41.33% and 55.43% of the share capital of the company.

Consideration was $1 per share (Share was trading around 1.23 when it got suspended).

I nearly didn't want to put in my stop loss level but decided to do so half an hour before the market opened this morning. So, I got stopped out at a "better" price ($1.08), but still at a loss.

This trade reminds of my very first trade with Jimei (1159.hk) bought on 9 March just when I started this blog.

Total damage = ($1.16 - 1.08 x 2000 shares) = HKD$178.

Suspend - Milan Station (1150.hk)

Encountered my first share suspension today, two days after I bought my shares.

Sigh.

Sold - Jiangnan Group (1366.hk) and Haichang Holdings (2255.hk)

Taking two small losses today as I just realised that both shares were trading in a symmetrical pattern.

Bought 2K of Jiangnan Group (1366.hk) at $1.35 on 14 April, sold on 27 April at $1.32. Loss of HK$79.76 (3%).

With almost $27M in OBV and the share trading in a symmetrical pattern, I anticipate that the price for Haichang (2255.hk) will be going down. So rather than take it when my stop loss level is reached, I decided to just take a small loss and exit now until a breakout occurs.

Bought 1K of Haichang Holdings (2255.hk) at $1.65 on 18 April, sold on 27 April at $1.63. Loss of HK$32.45 (2%).

Bought - Milan Station (1150.hk)

Bought 2K of Milan Station (1150.hk) at $1.16.

Sold - Ozner (2014.hk) and China Sanjiang (2198.hk)

Got stopped out at $1.34 for 3K Ozner (2014.hk) shares (2+1 pyramid) today.

Profit of $139.26 (3.6%). I think I had tightened my stop loss levels a little too tight.

Sold 1K China Sanjiang (2198.hk) shares @ $1.42 as I thought MACD levels were heading south.

Yet, today's trading opened at $1.37 and hit a high of $1.55 before closing at $1.49 :( Bummer.

Bought - Ozner (2014.hk) for pyramid

Bought 1K Ozner (2014.hk) to form a pyramid with the previous 2K I bought on 6 April.

I decided to buy into the pyramid as I think the MACD still looks like an upward trend is still present.

Sold - Brightoil (933.hk) and Chongqing Iron (1053.hk)

Sold 1K Brightoil at $2.50, which was bought at $1.97 on 24 March.

Profit of $513 (26%)... Woohoo! Broke my last record of Youyuan (2268.hk) of 21%.

But got stopped out of my Chongqing Iron (1053.hk). Bought 2K shares at $1.10, sold at $1.15. Tiny profit of HKD$60+ (3%).

Bought - Jiangnan (1366.hk) and Shifang (1831.hk)

Bought 2000 Jiangnan (1366.hk) @ $1.35 and 1000 Shifang (1831.hk) at $0.70 on 14 April.

DIY stock charts

Programmed my own software to chart SMA, EMA, OBV and Turnover as I couldn't find anything free on the Internet.

Extracts information from Google, though there's a delay of 1 day currently for SG stocks.

Ascendas A17U (30 days)

OCBC O39 (90 days)

Chongqing Iron (1053.hk) - Striking while the iron is hot

Bought 2K of Chongqing Iron (1053.hk) shares at $1.11 last Friday (8 April) as OBV and RSI remained on their upward climb on the 1-month, 10-days and 15-min timeframes.

Initial stop loss level at $1.02 has been raised to $1.07 :)

Looking at a target of $1.70, which is a far cry from its pre-fall price of around $2.60 in Jun 2015.

Will this metal company sink or fly?

He who hesitates is lost

"When a stock turns against your premise

and moves hard opposite your position,

you need to sell as soon as you recognize it.

Yes, it could turn and you could permanently book the loss,

but it might keep going and you can lose it all."

Achieving the Zen state of trading

"You want to get to an emotional point

where you don't feel the pain of a loss

or the ecstasy of a big win.

It's just a job, just numbers - not money."

How to sell "Losers"

" When you need to sell a lose, tell yourself, 

   "I'm right on this trade, but it's taking too long.

   I can do better, faster with my new idea."

This avoids the emotional roadblock of admitting you are wrong."

China Sanjiang (2198.hk) - Investing in "faceless" companies

Bought 1K of Sanjiang (2198.hk) at $1.40 this morning purely based on OBV and MACD levels.

I wonder how full-time traders operate. Do they feel uncomfortable not knowing what kind of companies they "invest" in?

Are the companies purely symbols to be traded? "Faceless" entities that which they derive profit from?

Ozner (2014.hk) - First 2K lot

Bought 2 lots of Ozner (2014.hk) at $1.25 this morning based on surge in OBV.

Will it prove me wrong again?

Brightoil (933.hk) - Time to sell?

Support price for Brightoil (933.hk) seems to be holding above $2.40 though RSI is falling and MACD is turning bearish.

Should I get stopped out or just sell at market? Decisions...

Yuhua (2728.hk) - Sold 4K shares at $1.06

My offer to sell 4K Yuhua shares at $1.06 was filled this morning.

Total profit = (1.06 - 1.00) x 4000 shares = HKD 240 = S$42 (5% return)

I think still acceptable for less than a week's market exposure...

Use of moving averages as stop loss levels?

Got this inspiration while reading another book (Invest Like a Shark by James Deporre).

My current profitable trade in Brightoil (933.hk) has seen quite a fair amount of profit. I think I will try this method to establish my stop loss levels once the current one placed yesterday expires this evening.

My second open trade in Yuhua (2728.hk), while (slightly) profitable, is tying up quite a fair portion of my total portfolio. As such, I've tightened up my stop loss to $1.02 (quite substantial with little leeway for any price decrease) to get out.

Youyuan (2268.hk) was my previous trade that I closed at $1.77. If I had used this method instead, I would have been stopped out at $1.795 due to the long lower  shadow on 31 Mar. Otherwise I would have still been in the running for this share.

However, if we look at Jimei (1159.hk), the very first stock that I bought that stopped me out on the very same day, the stock volatility would have easily kicked me out of the trade as the price penetrates the 30-EMA levels too frequently.

Yuhua (2728.hk) - Getting out soon...

As the stock doesn't seem to be moving well, I've decided to raise stop loss to break-even ($1.01) and exit (or get stopped out) by the end of this week.

Brightoil (933.hk) - Good run-up

If the OBV and RSI remain strong, there'll be a good chance that my target of $2.50 will be reached by the end of this week.

Raised stop loss to $2.15 to prevent being stopped out by whiplash.

Yuhua (2728.hk) - Will it bleed?

Cutting it close to break-even point at $1.01. Will it make me bleed?

Brightoil (933.hk) - Hitting a hard resistance ceiling

The price seems to have hit a resistance at $2.40 and has stubbornly refused to budge.

In consideration of the two options to take: Whether to take profits (with 1 lot @ $1.97) or wait for stop loss to be triggered, I have decided to go with waiting this round.

If the price retreats to a suitable level, I might consider pyramiding again.

Using OBV to determine flow of money

One of my key indicators used - just remember that when more people buy into the stock, OBV rises and vice versa.

If OBV starts to fall when you bought into the shares, get ready to sell or tighten your stop loss.

Buying and selling stocks with RSI

As you can tell from the photos that I upload, RSI is one of the indicators that I use during trading.

Here's an excerpt from The Swing Trader's Bible, written by Matthew McCall and Mark Whistler.