Market Sense

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CK Choy.

Market Sense 市场意识: Probability is your best friend
Be decisive, Be patient, Don’t be greedy, Don't be stubborn

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The information contained in is provided to you for general information/circulation only and is not intended to nor will it create/induce the creation of any binding legal relations. The information or opinions provided do not constitute investment advice, a recommendation, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not have any regard to your specific investment objectives, financial situation and any of your particular needs. Accordingly, no warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on this information. Investments are subject to investment risks including possible loss of the principal amount invested. The value of the product and the income from them may fall as well as rise.

You should seek advice from a financial adviser regarding the suitability of the investment products mentioned, taking into account your specific investment objectives, financial situation or particular needs, before making a commitment to purchase the investment product. In the event that you choose not to obtain advice from a financial adviser, you should assess and consider whether the investment product is suitable for you before proceeding to invest.

Any views, opinions, references or other statements or facts provided in this are personal views. No liability is accepted for any direct/indirect or any other damages of any kind arising from or in connection with your reliance on the information provided herein.

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Note:
All TA (Technical Analysis) view using charts are for illustration purpose only.
Unless otherwise specified, all charts' sources are from POEMS(Phillip Online Electronic Mart System)

Thursday 29 September 2011

Probability is your best friend

2011,Sep,28
Posteado por passiontrader

If someone tells you that the probability of getting money from buying lottery is much lower than picking money on the streets, will you stop buying them? I guess probably not. People buy lottery even though they know that the chances of striking rich is very low. Why? They are not buying lottery. They are buying hope, and hope can be a very expensive thing in the stock market.
Hope is everywhere in the stock market. People buy stocks and hope that they will make money. If the stocks fall after they buy, they refuse to cut loss because they are buying the hope that the price will rise in the future. That make them lose even more. For successful traders, they are playing with probability, not hope. They trade on high probability trades.
What are high probability trades? These are trades, usually through technical analysis, which will produce high probability of winning. Professional traders follow their own trading rules, which has been thoroughly tested to produce high probability trades. You may think, “Wouldn’t I be able to make money if I follow their system?” Of course you can, provided you follow their trading plans without emotion. There are a lot of courses out there that shows you how their systems can make money. Just need to follow their buy and sell signals. The only problem. Can you really put that into action? If you have 3 consecutive losses on your trades, do you still have the confidence to follow the trading plan?
High probability trades does not mean you will not lose money. It just means that you have a high probability of winning. You need to have a strict risk management policy and a trust in your own system. Finding high probability trading system is easy. The difficult part is believing in it and executing it.
Posted by ckchoy77 at 11:38
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