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China A50 CFD

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CHINA50 trade ideas

IT IS FINISHED !!!Putting spirituality aside, if we look plainly at the word; finished - what comes to mind ? See the dictionary meaning : It simply means the tasks on hand is done, completed, nothing more to do. And the corresponding feeling should be one of :Relieve, Excited, Happy, Pressure taken off, etc. That is exactly what we should be doing in our trades and investment. And to me, this is an important psychological aspect that is often not covered in many courses, be it forex,futures or commodities. The emphasis is constantly on price actions, indicators, trends ,etc. No, I am not saying these items are not important, they definitely have a place but imo, it is not the most important ingredient. See my posting on My top 3 China stocks where I talk briefly about self-motivation. IT IS FINISHED is beginning with the end in mind (Steven Covey - 7 habits) , it is thinking from instead of thinking of your success. I run and swim to keep fit. So, at times when I am struggling in the journey, I would pause, slow down my speed and think of the shower I am enjoying, the nice cold lemonade that I am seeping now. All actions are in the present NOT to be had later which denotes some time in the future. It is right now! In trading/investment, I imagine a scene where my portfolio has made me financially independent and successful, I use my money to bless my family and others and share my knowledge and skills with a large audience on stage. And from here, my thinking commence. I carry this superb, happy, excited, peaceful feeling into my journey of research, chart analysis and others. You can say, it is a skii down approach rather than a climbing up ladder approach. This subject is deep and requires a steady and calm mind to relax and pay attention to what your heart is telling you. Listen attentively, do not argue and oppose the gut feelings you have, it is a signal , it is telling you something. Embrace it and seek God's help in interpreting it for you. Have patience and not rush things............. WE already have the money , all of it that we ever wanted. WE are ALREADY profitable. WE are great at spotting trading opportunities. WE are fearless in executing our actions. WE are generous in our sharing because we HAVE more than enough. WE are prosperous and sincerely wants others to prosper too. We are blessed and in turn bless others with our prayers.
OANDA:CN50USDLong
by dchua1969
Is China stock market in a bubble ?Read article here If we look at the chart, we can see that CN50 has break out of the resistance in 2015 at 14,828 on 7 Jul 20 and is now at 15,146.40. From a technical perspective, those who had followed my post here can consider take partial/full profits and let the remaining units run. The key support at 14,969.70 now is crucial as it indicates the future bullish moves. On the smaller time frame, it shows us a series of lower highs and lower lows, which indicate short term bearishness, having fallen from a high of 16,437.30. I remain cautiously optimistic that China government would do what it can to prop up the stock market and not allow it to follow 2015 trend. The likely scenario would be a consolidation phase for the coming weeks before any major news hit it to go higher up. It could the US-China trade deal new developments, President Trump election or maybe the Tik Tok/Tencent sales in US. Let's return to the chart in a week or so to see its performance.
OANDA:CN50USDLong
by dchua1969
Emotions steer our actions, Reasons justify itWhether we like it or not, behind every decision we made, be it trading or in other aspects of your life, our decisions are always based on a set of emotions. Reasons offer a false sense of control of the situation. We do things because it gives us pleasure (love, being accepted, respected, etc) or if it avoids pain (stress, anger, regrets, anxiety, feelings of loss, etc). Emotions leads us to actions and reasons lead to explanations (how we explain things to ourselves after we have bought something). Think of a time when you go grocery shopping without a shopping list and ends up buying a bunch of things that you may not need. On your way home, you would explain to yourself why your decision is right (sure, we can use the organic marmalade jam for breakfast, 6 months later, it is still sitting in the fridge). This is very crucial in the game of trading. Nobody wants to lose , be it small or big losses. There is a winner's mindset in all traders and we make our decision in a way to protect this self image of a winner within us. We feel that we cannot be let down somehow. In short, we want to control the outcome of the game. Please note that trading is really a game of probability and thus it is essential that we must accept and come to terms that the outcome is hard for us to determine. The faster we accept this, the better we will see our performance in trading. You can have a bullish trend, low RSI, everything that points to your favour and you execute a long position. Yet, Mr Market surprises you with a gap down and you hit your stop loss. Unbelievable but it happens ! Not once, many a times to frustrate traders to quit and come back to the game again and again. Learning to focus on the journey '; the performance of each trade rather than predicting the outcome of the trend or the magic number at the top or bottom would be a wiser and more effective route to take, imo. For example, keeping strictly to your stop loss and not having 2nd thoughts that things may change (outcome) so you adjust your SL wider to accomodate it and not take immediate loss. Your fear of taking loss in each trade becomes a bad habit that you pick up unconsciously and if you are lucky to wing it, you would do it again. I know it feels "high" , great and even respected if you are able to pick tops and bottom or calls the right trend and people keep asking you for trading advice. This is not that important, really in the game of trading. Do not let this "guru" hat clouds your judgement. Stay grounded and stay focus at each trade you execute. It may be pennies that you lose or win but the thoughts put into it will shape your trading future. Like a strand of rope, it gets thicker and thicker as you spun your way to more trades and without you knowing, you are caught in your own web of repetitive patterns.
OANDA:CN50USDLong
by dchua1969