Morning ... it is Tuesday ... I m still in daze ... watching crude-oil surging 6% last night. Wow. I have longed at bottom USD26.20 ... but being a trader, I closed at same day(night) and didn't follow the strong rebound. Resistance for oil(WTI) now at USD34 ... which is a good level to go short.
Yes ... I am into trading OIL(US) at nights ... been doing that for past 2 weeks or so, and LIKING it very-very much ...
Why trade oil?
1. It is VERY liquid ... so, it is good for technical-chartist.
2. It is at night ... so, I could focus in FCPO or KLSE or my tuition-classes during day-time.
3. The fees cheaper ... yes, it is cheaper than buying my stocks!!
4. It is in USD ... park some money in USD rather than MYR
5. It is suitable for short-term trading ... and I m using 5min/15min charts.
UMWOG : This is the only oily-counter I m holding ...
SK@RM2 : I missed SKPetrol as it was shooting too fast ... and reaching SK2 now. Resistance at RM2.03 ... let it go.
Note : I m not paid to put-up this ads ... I saw my mom using this product too. Must be good?
Yesterday I had e-meeting with trading-group ... I m still bullish in O&G while start to be bearish with the overly played export-stocks. I sold all my perabut too early tho my entry was very good (bought FLBhd at RM2.07 ... Hevea-wb at 97cents). I sold them off as I want to move to O&G counters.
I simply dislike current bullish market again ... as I was busy buying before CNY when there were CNY-sales carnival. Even they have sales in Maxis and Celcom. Haha ....
KLCI up another 8points ... time to SELL off all again ... and wait. And the cycles continue for 2016 ... a very volatile year. It is good for traders. So ... I will be focusing in trading CRUDE OIL ... welcome to the world of trading ...
Trading courses and systems
I received a call from a person(man) ... stating he went to a market preview ... costing few thousands to learn those technical-charting ... a 2/3day-course and then, selling them the systems etc etc. Well ... that is what the market expect us(retailers ... ikan-bilis) to pay ... and expect us to know how to trade after the 2-days course!! Haha ... ok ok ... I was from there. I have to admit how naïve I was.
Then ... I started to use ... BRAIN. Think logical for a while ...
If the system are so well to trade ... WHY are they employing trainers to train all to become traders??
Note : Thinking needs brain.
He went on and on ... telling me that he has basic and been in markets for few years. He wants to learn real trading?!!
I was wonder ... what he meant. Real-trading? Sounds like me ... but ... but ... trading is extremely risky and difficult leh, ok?
so ... if one thought that trading is easy ... paying few thousands to attend a trading-workshop or rely on the systems (buy-sell signals) ... do THINK again. This is just an advice I could share ... about reality in trading. It is VERY DIFFICULT. If it is easy ... then, WHY bother about stocks? Trade FCPO .... GOLD ... OIL ... USD-pair?
Reality will hit many when market crash ... now? Quit is also not a good option as one will not have enough experience to 'BUY during CRASH".
I attended a full-time workshop by a forex-trader last weekend. One of the better speaker ... NO use of indicators much!! See chart pattern ... plan the trades and money management. These are what real-traders do leh .... not all those MACD or blah-blah waves.
I like logical traders with experiences. I like talking to them ... as they are 'rare'. Perhaps ... only 10-20% of these traders around ... we could not find them as they are busy trading and busy planning, not blah-blah in forums etc etc.
I have sold my perabut-stocks too early. Otherwise ... I will have new sofa-set ... as the reward.
Anyway ... the person I mentioned said he wants to join my trading-workshop(practical ah-pek style) next month (planning cohort-19 end of Mac) and follow my trades.
So ... I said ... welcome to the world of trading.
Will rest well ... trade FCPO during opening. Classes at noon. Trade oil at nights ...
TEH
http://cpteh.blogspot.my/2016/02/crude-oil-up-6.html
