It's a tough week! With the inauguration of President Obama and the Singapore budget presentation in the same week, I have not been objective in my views. I am fearful in shorting as any good news might push up the market and despite the bad economic numbers especially coming out from UK, I am bias into buying and picking the bottom.
TRADE WHAT YOU SEE AND NOT WHAT YOU THINK
Being a very short term trader, I need to constantly remind myself to trade objectively. I can only be half right most of the time in trying to predict where the market is heading. Many of my friends asked me where the market is going, whether the market has bottom out and can they start buying stocks now. Who can predict correctly? It's better to wait and see how bad the situation can get before deciding, CASH IS KING.
A lot of hard work is needed into doing research and analysis of the world economic situation. Making money involves risk and money management as none of us will be able to predict accurately where the market is going.
For the week, we are only up slightly, our profit now is S$9,595.00.