Re-entered the market with Wilmar breakout

I felt a strong emotion of missing out this morning. I knew this emotion. It is the anxious fear of missing out and what causes traders to chase a stock. In the past, this emotion and my subsequent act of chasing tends towards loss not gain as I remembered it. Hence I decided not to chase. But I still wanted in. I felt at this juncture, it could still go up despite some bearish crossovers of MAs in the Dow and STI.

So I engaged my risk management 'mode', quickly assess a few stocks and picked Wilmar for a risk of 1R and using a different technique. This is the 'resistance turn support' technique. It is also a breakout of the 5.3 level resistance. I decided to use this because Wilmar actually looks good for breakout techniques. I did not want to enter the market because of the bearish looking MAs and scooping the channel bottom does not give a good reward/risk if you take the overhead MAs as resistance. But with a breakout, ah.. it is a different story. Resistance becomes support

at 5.27 thereabouts. Break I cut.

But alas the price in the morning was 5.49 and there was a gap up. So I bid and waited at 5.4. Chasing it is out because risk control is foremost for me, despite what my familiar anxious emotion. If I miss the trade, no matter, the market is always there and anyhow enter, anyhow get slaughtered. So I just wait.

12.28pm, sms came in and my Wilmar is done at 5.4.

(Sorry guys no charts, recently got busy with work. Maybe over the weekend)