Monday, November 23, 2009

Riding DBS on $2+ profit per share

I almost wanted to sell at $15 today. Taken over by emotion. But I recognised it and just hung on for the ride. That emotion is fear. Fear of letting my big gain get away and going off with a smaller gain. But these are old friends. They are with me every turn of the market. Greed and fear. But greed comes from fear. Fear of not having enough, fear of missing out.

I have a system to trail the profit. I look at the DBS chart and see a support at 14.9. So I will sell if (1) it ends below 14.9 at 12 noon or 4:30pm tomorrow, (2) candlestick reversal patterns at end of day tommorow. (3) Asian indices are mostly down.

Cheers, thanks for reading.

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