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FBMKLCI

Maybank

  1. somewhere around end August (highlighted A) I mentioned that a better place to buy Maybank is at RM8
  2. I mentioned the probability of it going up is low and is not a good place to trade
  3. The market subsequently proved me wrong by going up to the high of the downward channel
  4. At this juncture, we need demand to come in to push Maybank through the highlighted area of B, failing which I think chance favours the downside for FBMKLCI as a whole
Categories
FBMKLCI

A Student of the Market

Today I want to narrate an observation and something that I learnt (usually the hard way) in the market.

Are you interested to be right or be able to make money in the market?

Most of us are psychologically inclined (no thanks to social conditioning) to appear right ( at the expense of making money in the market)

This is manifested in 2 obvious ways:

  1. We overstay our huge losses (with the intent of getting out even, so that our decision doesn’t look foolish)
  2. We cut our profits early (with the intent of locking in our small profit and not risking it so that if the market turns down, our decision makes us feel right)

These 2 are the most expensive lessons in the market.

Naturally we need to do the exact opposite to make money in the market. Being right or being wrong is an after effect.

Categories
FBMKLCI

FBMKLC

We last spoke about waiting for the turning point in KLCI. It has happened last 2 weeks.

I’m looking at 1630-1640 in the next 3 months (highlighted in yellow)