I really have timing problem. With RHB, I'm too slow to take profit. With Carotec, I'm too fast with it. So what's the problem with me? Am I destined to be poor as the big profits always elude me?
I think I know why. I'm too fast in adding new positions. To prevent from losing the additions that I made, I exited to protect it.
I scan back the historical charts and notice that an uptrend stock will go up for 2-6 months. Everyday looking at the screen, expecting actions is very bad for trading.
So now, I will limit myself to maximum 1 trade per counter per week. All trades will be based on the weekly chart. If there is a buy/sell signal, then the trades will be done on Monday morning. For buy trades, the stop will be set on the previous week lowest price (in case my bet goes wrong).
I will stick to this rule unless I it is found to be unsuitable. So lets see how good will this turn out to be. Wish me luck!