I've decided that I will also share some of my trading experiences in the Philippine market. As of today, I'm already up 80% year-to-date. This is in spark contrast to my very large drawdown of 46% in my Hong Kong account. Why the large discrepancy? Well, in our company (HK market), we're basically discouraged to buy and hold for more than a couple of days. We are being groomed to be day/swing traders that get in and out quickly. This kind of style is very difficult especially in a market that is very volatile, as we are usually prone to constant whipsaws. On the other hand, for my personal account in the Philippines, I have the freedom to buy and hold a stock for more than a week or even a month (but my maximum is 2 weeks), which allows me to maximize gains and ignore market noise.
So there.
I'm currently holding CPM. I already made money in the stock, (I bought it at 4.15 and sold at 6) so I can buy it back at any price if there's a good set-up. As you can see from the chart below, after three days of profit taking from 6.3 to 5.1, the stock has stablized and volatility has lessened, so I bought at 5.5.
So there.
I'm currently holding CPM. I already made money in the stock, (I bought it at 4.15 and sold at 6) so I can buy it back at any price if there's a good set-up. As you can see from the chart below, after three days of profit taking from 6.3 to 5.1, the stock has stablized and volatility has lessened, so I bought at 5.5.
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