October Picks (Week 2) Results

In case you're wondering what I did last week,

I know, my portfolio isn't THAT BIG. I only have a little above a hundred thousand pesos which took me more than a year to save up. But this trade gave me a 36% profit (about 17,000 pesos) in a span of a day if you don't count the weekend. That's like a payday's worth for me. The stock went down for 2 days and on the third day it almost went to ceiling again only to close negative for the day. I don't know what's going to happen. No one knows. But from what I see in the chart, it's over. I know, I could've held on to my shares and "stayed disciplined" and held on to it. But that wasn't the plan. The plan was to sell at 0.80/sh which was my target price. It was a good trade.

Here's what happened on my test buy in MED:

I wasn't able to sell it at 0.70/sh. I cut it because it seems like the 20ma won't hold. Overall, just following the plan.

Here's another trade:

And another one:

This is my biggest problem. I sometimes can't control emotions when I really feel good about a stock. This broke out of its 200ma and I went BIG (based on my account size). Only to find the stock close below the 200ma.

But my stupidity doesn't stop at that.

Another BIG bet. And you've guessed it. Closed lower for the day.

Told you. My FOMO is STRONG.

False Prophets

It's everyone's goal to make sure money fast and it is human nature to want the easy way out.

When I was fairly new in trading, I asked strangers about the next hot stock.
I joined private chatrooms with real-time updates on what stocks are moving.
I joined facebook groups with tons of analyses saying why this certain stock is bound to go up.
I tried to find answers.
I wanted to get them fast.
And then I found him.

Anyone that comes to mind?

Just like you, I've been a victim of these false prophets or gurus or whatever.
Because when you're new at something, you try to find someone who's good at it and learn his ways.
And besides,
Who wouldn't want to just ask someone what stock is going to rally when, then make tons of money?

I was like this back then.
Expecting profits.
Ignoring risks.
But after a few good losses, I stopped following his picks.
I stopped following his group.
I stopped following any group.
I worked my ass off on finding a strategy that works for me.
And I transcended to a new level of thinking.

And whenever I see posts about newbies losing their hard-earned money, this picture comes to mind:

Eh di wow.

FULLMETAL CHARTIST

This is my blog.
My diary.
My journal.
Where I will post my ideas.
You don't have to read it if you don't want to.
I don't give recommendations because I'm not a guru.
And I don't have the responsibility of making money for anyone but myself.

I wanted a job where you don't have a boss.
Where you don't have to wake up 5, 6am in the morning to get dressed.
Only to be told to compute how much your boss earned that day.
And realize it would take you 10 years to earn the same amount.
I wanted a job where everything relies solely on you.
I wanted to be a trader.

My journey in trading, as it is with almost everyone else, is rough.
Now I'm not saying that I'm already a profitable trader consistently.
That's the goal.
But before I started, I knew that it will not be a walk in the park.
I knew it will take years.
I knew there will be losses.
I was even convinced that there will come a time that I would lose ALL of my hard-earned money.
I knew that it will take every bit of hardwork, confidence, perseverance, intellect, and cash in order to succeed in this endeavor.
I knew there will be sacrifices.
And I didn't know what they would be..

But I wanted to be a trader. And I'm willing to pay the price.

I knew and I believed, that being a trader is the path for me.
And that I would be a successful one.

I started trading just a little less than 2 years ago. At the height of this great big bull market.
I joined lots of facebook groups each with their own gurus.
I joined Tsupitero.com, Trader's Apprentice Pilipinas, Faceless Trader, and many others.
I learned a lot from these groups. I downloaded every ebook I could find in their "files" section.
I devoured them. I tested the different indicators and systems.
Only to find out that some of them don't make sense to me. Some are pure bullshit.
Some works sometimes. And some makes pure sense to me.

I remember a guru from this certain group that I joined recommended me a book. And because he's a guru and I worship him (during that time), I downloaded it from the group page and started reading it and absorbing every bit of information I can store in my head.

The book says the trading system can detect at what price to buy, what price to sell, when to buy, and when to sell. It's literally saying it's the Holy Grail. And after sometime studying it with actual testing, it never really worked. Yet this guru is saying this book is all I need.

Yes.
This book is all I need to prove that you should not trust anyone in the stock market world.
Including me.

Dissatisfied, I continued my search for the Holy Grail.
The instrument that bypasses the Law of Equivalent Exchange.

Little did I know that I was desiring something that must not be desired.
I was on an endless pursuit of something that no one has ever obtained.
Therefore, I paid the price.

To be continued..