Tuesday, August 17, 2010

Lesson learn: Be patient and wait for signal.

Alot of people like to anticipate the market, saying stuff like 1130am will crash or using EW to predict the next market move. EW only is accurate when things had happened. We should not be interested in the things of the past, we should spent our effort waiting for the next signal to appear. Today most of the day, stocks are flat except Genting, I waited patiently for Olam to clear 2.57 or Noble to make 1.63 break before making any move. True enough before the day ends, Noble breaks 1.63 and I have to take 1.65 without any thinking. The decision is straight forward. See chart and follow it. The 3 white candle is call 3 white soldiers in candlestick term.

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