Took my profits. Best trade so far this year. Moving on to the next…
Let’s review positions for the past month! TA and LTG were opened on March 27 when Fitch upgraded PH to investment grade. Both positions were opened due to breakout of a resistance line. My mistake for April is I tried to trade basuras T, SINO and SUN and they all ended as losers. I also bought DNL when it broke out of 6.20 but was shaken out the next day.
The most important principle to trading success is money management, I only needed 2 winners over 6 positions to perform. That’s only 30% winning rate. For the 4 losers mentioned, I lost -0.54% of my portfolio. It was also helpful to do “test buys”.
Remember, cut losers quick and let profits run! Be patient with winners and very impatient with losers!
Although LTG is still trending up, it looks like it is now showing some danger signs. We don’t need to predict what will happen next. The key is to be disciplined to trail stops and follow it without hesitation.