Ok the STI was looking too bearish for my liking. It ended at -3.25%. Other asian markets were similarly bearish. Hence I sold my UOB at 16.3. I bought at 16.28. Hence, I lost on commission. My friend ask me why I did not take profit the day before or so when it went as high as 16.9. Well to be frank I was tempted, just like any of you would be. But for me, this scenario has occurred before. And I find that on the numerous occasions that I chose not take the small profit but let the market fluctuate against me a little bit, I managed to ride the profit much, much higher. In the longer term of 20 or more trades over at least 6 months, the difference becomes apparent. You just need 2 super trades that gives you 12 times more profit than your risk. And you will see the fallacy of taking small profits that occurs more frequently.
Remember you will have also have losses. Small profits can hardly cover your losses, even if your win rate is 70%. Remember the GOLDEN RULE always: Ride your profits, cut losses small. Win rate is seldom important in trading profitably consistently.
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