A quick update.
Further to discussion with my broker. Firstly, I should say that my broker is much more prompt in responding to me, than I am in writing this article, so, kudos to my brokerage firm! (unfortunately, I'm writing this whilst doing other things in and out, but not in CSL style :-) )
1. I am advised that the contracts shown on 2 Jan is due to incorrect factors uploaded into the system. The mistake is deeply regretted. They understand I could not really sleep last night. :-) They will fix it to reflect the new fees that I mentioned in my previous article. The differences will be credited into my account by end of month.
2. As for the normal fees for below and above $100k, the online rates remain the same (0.42% and 0.21%), and is negotiatiable, i.e. a confidential individual arrangement between broker and client. Whilst my own preference (a "wish list" for this industry, i.e. addressed to all brokers) is to have it transparent across brokers nationwide (since the process of negotiating with every single broker across the country is very time consuming - definitely something I don't have at the moment), the only thing I will do is to just comment it here, so that hopefully, we can have a discussion whether such a thing should be standardized and made transparent, or have it done in varying standards behind closed doors. Apparently, my cbox is viewed by industry professionals, so, don't be afraid to leave your comments here, as it may / may not influence the industry. Certainly, if we don't express our views and keep it inside, it will never be heard.
Notwitstanding 1. and 2. personally, my own experience now is that I am overall pleased with my broker's service and rates quoted. I am also too busy at the moment with finding better rates. Hopefully, your experience with your own brokers is equally pleasant under such potentially confusing circumstances. However, should the unfortunate happen and you find that your broker provided you with a lousy service and high rates, then, just change brokers. Remember, ultimately, it's your money and not theirs yet.
Cheers,
Seng.
Thursday, January 3, 2008
Watch your brokerage fees
Good morning and Happy, Healthy and Prosperous New Year!
It seems this This New Year has started out with a Big Bang, and I don't mean fireworks literally! :-) At the start of the year, the nation was gripped with the hugely controversial news about the possible illegal surveilance of the private life (sex activities) of our Health Minister. As a result, it is not unexpected that the Internet (including my cbox) has much discussions about that, possibly diverting attention on the impact of the new 2008 brokerage fees.
I was fortunate that I did a couple of transactions yesterday, which allowed me to understand the initial impact. At first, I was shocked and most dissappointed. Why? Well, when the Budget first announced the new fees last year, it focussed on 3 things. 1. That the Minimum Fee has increased to $40. 2. That the clearing fees have reduced in % terms by 0.01%. 3. That the brokerage % are negotiable. When you combine 2 and 3, my own personal expectation is that % terms, brokerages should fall (and that the Minimum $ fees rise, so as to encourage larger size trades).
However, when I looked at my actual trade result on 2 Jan 08, I was shocked! Here is a snapshot of my trades. For ease of convenience, "brokerage" refers to the total costs of brokerage + clearing fees + stamp duty.
CNOOC-C1
Buy brokerage = 50.34 / 7800 = 0.645%!
Sell brokerage = 51.63 / 8100 = 0.637%!
Total intra-day trade = 1.28%!
In 2007, intra-day trade typically cost me (in total) around 0.29% one way, or 0.58% bothways (buy and sell). Naturally, I am most dissappointed with the higher % increase.
HSI-C1
Buy brokerage = 56.68/12,250 = 0.46%!
Sell brokerage = 56.81/12670 = 0.45%!
Total intra-day trade = 0.91%!
Again. Most dissappointed that not only has the trade size increased to around $12k, but the % has also increased.
So, I quickly wrote an email to my brokerage firm, expressing my dissappointment and request for a full schedule of brokerage fees for 2008. To my brokerage firm's credit, their response was immediate. It seems the Minimum Brokerage is now $12 (unchanged). The intra-day brokerage % appears to have been REDUCED to 0.1% (previously 0.15%). However, as for the rest, it is still unclear (e.g. Normal trade % below $100k and above $100k).
Whilst I am partially relieved with the immediate and prompt response, I am extremely puzzled as to why this country has to create so much unnecessary work and confusion for everybody. Even up to now, I am still confused. And when there is uncertainty, as prudent traders and investors, one must scale down one's activities, until one knows the new rules in full.
Naturally, I will follow up my broker later. I urge you to do the same thing. Make sure you know the full schedule of fees that will apply to you for 2008, since brokerage is a very important component to one's investing results over one's lifetime. And naturally, the impact will hugely impact one's trading activities, especially for someone like myself.
Good luck.
PS. If your brokerage firm gives reduced brokerage fees than the above, please do not hesitate to drop me a note here in the comments, so that every reader and visitors here can consider that and possibly consider transferring their business to the cheapest and best value brokerage firm.
PS2. My deep apologies to my brokerage firm for publishing this, but this confusion needs clarification at national level urgently. Confusion is bad for business for everybody, myself included. This is notwitstanding the very commendable and prompt response.
It seems this This New Year has started out with a Big Bang, and I don't mean fireworks literally! :-) At the start of the year, the nation was gripped with the hugely controversial news about the possible illegal surveilance of the private life (sex activities) of our Health Minister. As a result, it is not unexpected that the Internet (including my cbox) has much discussions about that, possibly diverting attention on the impact of the new 2008 brokerage fees.
I was fortunate that I did a couple of transactions yesterday, which allowed me to understand the initial impact. At first, I was shocked and most dissappointed. Why? Well, when the Budget first announced the new fees last year, it focussed on 3 things. 1. That the Minimum Fee has increased to $40. 2. That the clearing fees have reduced in % terms by 0.01%. 3. That the brokerage % are negotiable. When you combine 2 and 3, my own personal expectation is that % terms, brokerages should fall (and that the Minimum $ fees rise, so as to encourage larger size trades).
However, when I looked at my actual trade result on 2 Jan 08, I was shocked! Here is a snapshot of my trades. For ease of convenience, "brokerage" refers to the total costs of brokerage + clearing fees + stamp duty.
CNOOC-C1
Buy brokerage = 50.34 / 7800 = 0.645%!
Sell brokerage = 51.63 / 8100 = 0.637%!
Total intra-day trade = 1.28%!
In 2007, intra-day trade typically cost me (in total) around 0.29% one way, or 0.58% bothways (buy and sell). Naturally, I am most dissappointed with the higher % increase.
HSI-C1
Buy brokerage = 56.68/12,250 = 0.46%!
Sell brokerage = 56.81/12670 = 0.45%!
Total intra-day trade = 0.91%!
Again. Most dissappointed that not only has the trade size increased to around $12k, but the % has also increased.
So, I quickly wrote an email to my brokerage firm, expressing my dissappointment and request for a full schedule of brokerage fees for 2008. To my brokerage firm's credit, their response was immediate. It seems the Minimum Brokerage is now $12 (unchanged). The intra-day brokerage % appears to have been REDUCED to 0.1% (previously 0.15%). However, as for the rest, it is still unclear (e.g. Normal trade % below $100k and above $100k).
Whilst I am partially relieved with the immediate and prompt response, I am extremely puzzled as to why this country has to create so much unnecessary work and confusion for everybody. Even up to now, I am still confused. And when there is uncertainty, as prudent traders and investors, one must scale down one's activities, until one knows the new rules in full.
Naturally, I will follow up my broker later. I urge you to do the same thing. Make sure you know the full schedule of fees that will apply to you for 2008, since brokerage is a very important component to one's investing results over one's lifetime. And naturally, the impact will hugely impact one's trading activities, especially for someone like myself.
Good luck.
PS. If your brokerage firm gives reduced brokerage fees than the above, please do not hesitate to drop me a note here in the comments, so that every reader and visitors here can consider that and possibly consider transferring their business to the cheapest and best value brokerage firm.
PS2. My deep apologies to my brokerage firm for publishing this, but this confusion needs clarification at national level urgently. Confusion is bad for business for everybody, myself included. This is notwitstanding the very commendable and prompt response.
Friday, December 28, 2007
Winds of courage
This evening, I was reviewing the chatbox history and was impressed by Windsurfer's comment.
If you don't know who Windsurfer is, he is a regular chatter I know from the old investssmart chatbox days a year ago but recently went away for a few months until today. I remembered him saying at least 2 interesting things to me: 1. Don't be a psycho Buffett fan (which I agree - critical, independent thinking is far more important than being a fan for successful lifetime investing results), and 2. "Greed is good" (which I also agree and disagree - a complex topic). Whilst our chats have been almost exclusively over the cbox, over the one year I interacted with him, he strikes me as a courageous young individual (e.g. his high Petroch CW holdings as % of his total capital) with a fair integrity. The latter is something I observe to be more likely to be true in registered cboxes, compared to unregistered ones.
And so, when I saw Wind volunteered his comments below, it spoke to me very loudly of Wind's character and I am impressed with this young man.
If you don't know who Windsurfer is, he is a regular chatter I know from the old investssmart chatbox days a year ago but recently went away for a few months until today. I remembered him saying at least 2 interesting things to me: 1. Don't be a psycho Buffett fan (which I agree - critical, independent thinking is far more important than being a fan for successful lifetime investing results), and 2. "Greed is good" (which I also agree and disagree - a complex topic). Whilst our chats have been almost exclusively over the cbox, over the one year I interacted with him, he strikes me as a courageous young individual (e.g. his high Petroch CW holdings as % of his total capital) with a fair integrity. The latter is something I observe to be more likely to be true in registered cboxes, compared to unregistered ones.
And so, when I saw Wind volunteered his comments below, it spoke to me very loudly of Wind's character and I am impressed with this young man.
You may wonder why Wind would want to clarify that he is not "Wind chaser". The background is due to a mysterious individual who called himself "Wind Chaser" (not Wind Surfer). Since both names start with "Wind", I guess readers (especially new readers) could be confused as to who is who, since the real Windsurfer went away for quite a while.
But why the clarification by Windsurfer? Well, "Chaser" asserts that he used to chat in my cbox but has stopped chatting for some unclear reason, and then proceed to personally attack me left, right and centre. An anonymous enquired if he is Windsurfer, and Chaser carefully concealed his identity, leaving readers (including myself) wondering if it was Windsurfer. And I was impressed when I saw Windsurfer volunteered his clarificiation at 12:27 above.
In the 3 entries, I counted around 10 points. My immediate thoughts are in brackets below. There are no real feelings attached - just calm observations as it's not anything new to me. I have also invited him to chat with me to clarify his thoughts in Sam's blog (it may take some time, as the comment is moderated there). See his 3 entries below, and full details here (although I would advise to exercise one's own judgement when reading the entries here - https://www.blogger.com/comment.g?blogID=2900671137131972978&postID=2917137434145745191)
Entry 1 Dec 27, 4:27PM:
But why the clarification by Windsurfer? Well, "Chaser" asserts that he used to chat in my cbox but has stopped chatting for some unclear reason, and then proceed to personally attack me left, right and centre. An anonymous enquired if he is Windsurfer, and Chaser carefully concealed his identity, leaving readers (including myself) wondering if it was Windsurfer. And I was impressed when I saw Windsurfer volunteered his clarificiation at 12:27 above.
In the 3 entries, I counted around 10 points. My immediate thoughts are in brackets below. There are no real feelings attached - just calm observations as it's not anything new to me. I have also invited him to chat with me to clarify his thoughts in Sam's blog (it may take some time, as the comment is moderated there). See his 3 entries below, and full details here (although I would advise to exercise one's own judgement when reading the entries here - https://www.blogger.com/comment.g?blogID=2900671137131972978&postID=2917137434145745191)
Entry 1 Dec 27, 4:27PM:
Entry 2 - Dec 27, 5:59PM
Entry 3 - Dec 28, 11:21 AM
If you are seeing these for the first time, such comments may seem confusing to you, and you may rightly wonder what this "bugger S" did to Wind Chaser that deserves such a treatment. But to be honest, I've seen these comments spread across the online investment community hundreds if not thousands of times (mostly repeated spams) over the course of the last 5-6 months. From my own perspective, they have no real basis (as someone wise once commented - "I am not afraid of my own shadows"), but I genuinely invite the commentators (and spammers) to come to my cbox to explain to me their basis for such accusations. I noticed that I haven't really addressed them here in my blog, so, it might be worthwhile to write them out here at least once for future reference.
1. "that S bugger know how to talk only". (my immediate thought is to ask Chaser if he has considered looking in the mirror recently.).
2. "the one who make accusations on sam, the thick fellow". (my immediate thought - what accusations? See point 10 also which is similar)
3. "the thick fellow". (my immediate thought - thick what? )
4. "just can't stand S talk" (I guess S is Seng, so, why can't you stand?)
5. "always claimed credit" (please give me an example of when I claimed credit. I find this comment amusing for a variety of reasons)
6. "without any say before hand calls" (should I give before hand calls? This is an interesting topic probably worth discussing further. I would like to mention that with my new investing style since mid this year, I honestly don't know how to give before hand calls in my cbox without altering/affecting the outcome in an adverse manner. Most of the time, I don't even have a split second when competing against other traders in grabbing timing opportunities, let alone give before hand calls. Further, it invites unnecessary competition in both grabbing limited opportunities and executing stop losses. Further, I don't charge fees for my blog nor chatbox. But I do immensely enjoy discussing and sharing principles, thoughts, opinions, with like minded individuals as well as new investors. And I do believe that timing skills is something that one must acquire for oneself.)
7. "once market plunged, he just kept quiet" (perhaps he refers to my losses. Well, I think I've been quite frank in talking about my Ramunia-LA loss, OSKVI loss and other losses in the chatboxes, which is more than what I've heard about Chaser's losses. I also remembered telling the cbox some time ago that I had losses in over 40 different stocks [and winners in over 160+ stocks] then [and the numbers for both are different now.] )
8. "really disgusting" (strong words but is it necessary? do you want me to lie to say I only just dispose instead of disposing a long time ago? I have already stated many times in my blog that you buy, sell, hold at your own risk. As early as mid this year, I mentioned repeatedly that I was transitioning into 5 different portfolios with radical rationalization. I will not hold your hand when it comes to disposing time since this is a free blog and i simply don't even provide that service for a fee.)
9. "the culprit is the one who sour on other people's success" (well said - have you considered looking into the mirror recently?).
10. "i cannot tahan seeing the bugger S accusing Sam of wrong doing" (you need to refresh my memory on this one. the only incident I can think of is when I was chatting with Dali, Maxforce, Random and someone mentioned the idea whether it could be just be the work of one person, and I said I shared the same suspicion too. If I compare that with #1 to 9 above, I wonder who is the accuser and who is the accused?)
So, I would like to invite "Wind Chaser" (as I have invited "others" who made the same, virtually identical, baseless spammed accusations) to explain to me his opinions better in the cbox. I have invited him in Sam's blog (since he might not read this cbox anymore ... right and cows do fly), and hope to see who he is, since I sincerely have no idea who that person might be. I sincerely hope this person - Wind Chaser - is a genuine individual who previously chatted in my cbox and not turn out to be an imposter in Sam's blog.
1. "that S bugger know how to talk only". (my immediate thought is to ask Chaser if he has considered looking in the mirror recently.).
2. "the one who make accusations on sam, the thick fellow". (my immediate thought - what accusations? See point 10 also which is similar)
3. "the thick fellow". (my immediate thought - thick what? )
4. "just can't stand S talk" (I guess S is Seng, so, why can't you stand?)
5. "always claimed credit" (please give me an example of when I claimed credit. I find this comment amusing for a variety of reasons)
6. "without any say before hand calls" (should I give before hand calls? This is an interesting topic probably worth discussing further. I would like to mention that with my new investing style since mid this year, I honestly don't know how to give before hand calls in my cbox without altering/affecting the outcome in an adverse manner. Most of the time, I don't even have a split second when competing against other traders in grabbing timing opportunities, let alone give before hand calls. Further, it invites unnecessary competition in both grabbing limited opportunities and executing stop losses. Further, I don't charge fees for my blog nor chatbox. But I do immensely enjoy discussing and sharing principles, thoughts, opinions, with like minded individuals as well as new investors. And I do believe that timing skills is something that one must acquire for oneself.)
7. "once market plunged, he just kept quiet" (perhaps he refers to my losses. Well, I think I've been quite frank in talking about my Ramunia-LA loss, OSKVI loss and other losses in the chatboxes, which is more than what I've heard about Chaser's losses. I also remembered telling the cbox some time ago that I had losses in over 40 different stocks [and winners in over 160+ stocks] then [and the numbers for both are different now.] )
8. "really disgusting" (strong words but is it necessary? do you want me to lie to say I only just dispose instead of disposing a long time ago? I have already stated many times in my blog that you buy, sell, hold at your own risk. As early as mid this year, I mentioned repeatedly that I was transitioning into 5 different portfolios with radical rationalization. I will not hold your hand when it comes to disposing time since this is a free blog and i simply don't even provide that service for a fee.)
9. "the culprit is the one who sour on other people's success" (well said - have you considered looking into the mirror recently?).
10. "i cannot tahan seeing the bugger S accusing Sam of wrong doing" (you need to refresh my memory on this one. the only incident I can think of is when I was chatting with Dali, Maxforce, Random and someone mentioned the idea whether it could be just be the work of one person, and I said I shared the same suspicion too. If I compare that with #1 to 9 above, I wonder who is the accuser and who is the accused?)
So, I would like to invite "Wind Chaser" (as I have invited "others" who made the same, virtually identical, baseless spammed accusations) to explain to me his opinions better in the cbox. I have invited him in Sam's blog (since he might not read this cbox anymore ... right and cows do fly), and hope to see who he is, since I sincerely have no idea who that person might be. I sincerely hope this person - Wind Chaser - is a genuine individual who previously chatted in my cbox and not turn out to be an imposter in Sam's blog.
Kind regards,
Seng.
PS. Do let me know if my explanations here is still unclear. Better, come and chat with me in my cbox, and I will be happy to explain to you or anyone else my viewpoints. Hopefully, we both will come out wiser as a result of this interaction.
Thursday, December 27, 2007
SINOPEC-C1 Case Study
Hello everyone and good evening!
Firstly, thanks for the many enquiries received. I'm doing well, and have been trading privately, and occasionally browing the cbox and find interesting comments made there. I should add that "tradester" is not me :-)
As I have a few minutes this evening and the cbox seems quiet, I thought I write something a bit different tonight to stimulate discussions there. I would like to share with you my recent actual trading experience with SINOPEC-C1. (Yes, I stopped chatting, but I haven't exactly stopped trading :-) ) I don't think it's a perfect trading experience - I made my share of trading mistakes there. But at the same time, I did a few things right, which contributes to the result. You may find it interesting and instructive to analyze each trade below and perhaps the traders amongst you might find it interesting to discuss what I did right and what I did wrong and can better improve.
For background, SINOPEC-C1 is not my largest trade, nor my largest profit. On both counts, it is smallish / moderately small. Hence I don't mind sharing it here.
Note the following:
1. At the start of Dec, I have zero position on SINOPEC-C1. I have traded SINOPEC-C1 before several times in and out completely. My first entry in Dec is on the 18th.
2. There are 11 transactions in total since Dec 18 to Dec 27.
3. On Dec 26, I exercised 100,000 SINOPEC-C1 shares. Dec 27 closing price in HK is HKD$12.16. Assuming an exchange rate of $2.37 (still not sure what this is exactly), the equivalent price is around 26.67 sen. The order to exercise was given on Dec 26, and you will note some arbitraging trades there.
4. You may notice a few very small trades and a couple of larger trades. You may wonder why the different sizes. (Hint: I personally find that when I execute trades however small, I somehow have a heightened sense for where the market might go, rightly or wrongly - do you have the same feeling?).
5. You may note that SINOPEC-C1 is traditionally regarded as a risky call warrant due to the short expiry date. Are all short-expiry CW risky? What defines risk?
6. Please don't regard this article as a recommendation to buy SINOPEC-C1. This evening, SINOPEC-C1 closed at 27 sen. My unrealized gain is around $18+k, but I could easily dispose this tomorrow morning at 9 AM, or add more position. To be honest, I don't yet know at the time of writing.
Hope to see an interesting and productive discussion tomorrow. I hope there will be a few traders there. Unfortunately for me, I am most likely to be occupied tomorrow, but you might find reviewing the 11 trades above to be insightful. Anyway, I haven't tried this before, so, let's see if you find this useful or not. If not, we'll try something else.
Good night, happy trading, and have a Happy New Year!
Best wishes,
Seng.
PS. Do feel free to leave a message here and I'll try to respond to that next week if it's productive.
Firstly, thanks for the many enquiries received. I'm doing well, and have been trading privately, and occasionally browing the cbox and find interesting comments made there. I should add that "tradester" is not me :-)
As I have a few minutes this evening and the cbox seems quiet, I thought I write something a bit different tonight to stimulate discussions there. I would like to share with you my recent actual trading experience with SINOPEC-C1. (Yes, I stopped chatting, but I haven't exactly stopped trading :-) ) I don't think it's a perfect trading experience - I made my share of trading mistakes there. But at the same time, I did a few things right, which contributes to the result. You may find it interesting and instructive to analyze each trade below and perhaps the traders amongst you might find it interesting to discuss what I did right and what I did wrong and can better improve.
For background, SINOPEC-C1 is not my largest trade, nor my largest profit. On both counts, it is smallish / moderately small. Hence I don't mind sharing it here.
Note the following:
1. At the start of Dec, I have zero position on SINOPEC-C1. I have traded SINOPEC-C1 before several times in and out completely. My first entry in Dec is on the 18th.
2. There are 11 transactions in total since Dec 18 to Dec 27.
3. On Dec 26, I exercised 100,000 SINOPEC-C1 shares. Dec 27 closing price in HK is HKD$12.16. Assuming an exchange rate of $2.37 (still not sure what this is exactly), the equivalent price is around 26.67 sen. The order to exercise was given on Dec 26, and you will note some arbitraging trades there.
4. You may notice a few very small trades and a couple of larger trades. You may wonder why the different sizes. (Hint: I personally find that when I execute trades however small, I somehow have a heightened sense for where the market might go, rightly or wrongly - do you have the same feeling?).
5. You may note that SINOPEC-C1 is traditionally regarded as a risky call warrant due to the short expiry date. Are all short-expiry CW risky? What defines risk?
6. Please don't regard this article as a recommendation to buy SINOPEC-C1. This evening, SINOPEC-C1 closed at 27 sen. My unrealized gain is around $18+k, but I could easily dispose this tomorrow morning at 9 AM, or add more position. To be honest, I don't yet know at the time of writing.
Hope to see an interesting and productive discussion tomorrow. I hope there will be a few traders there. Unfortunately for me, I am most likely to be occupied tomorrow, but you might find reviewing the 11 trades above to be insightful. Anyway, I haven't tried this before, so, let's see if you find this useful or not. If not, we'll try something else.
Good night, happy trading, and have a Happy New Year!
Best wishes,
Seng.
PS. Do feel free to leave a message here and I'll try to respond to that next week if it's productive.
Sunday, December 16, 2007
Temporary absence
Dear Readers and Visitors,
This is just a short note to let you know that I will be away temporarily from the cbox for say a couple of months starting next week.
Something has turned up for me this weekend, sooner than expected. It is not investing related but something very meaningful to me that I would prefer to put more focus on. Also, there are other personal projects that I have not started/spent enough time on. Hence this temporary absence.
When I looked back at 2007 year, I thoroughly enjoy investing and trading. Perhaps worthy to mention is that even if I don't earn a single cent from today onwards, 2007 will already be by far, the best investing year in my life. Looking back, investing has grown to occupy far more than what I had orignally intended at the start of 2007, so, this temporary absence seems timely to reseek balance.
I will still trade but occasional and private. I will miss the cbox. To me, the cbox has been a great learning place, very motivational and very enjoyable place to be. I could spend my time there all day, but it would be counter productive to my new goals …
In case some of you may speculate that my sabbatical has something to do with maximizing returns from a market timing perspective, the latter simply has nothing to do with my temporary absence.
So, do continue to chat in my cbox. Treat this like your own home, a place where you can make new friends, keep old friendship, exchange and explore new investing/trading ideas, a place where you generally find it useful for your own personal investing development.
For your information, the cbox still receives over 1,000+ views a day. There are 200 registered members there, and a few gurus such as Dali, Moolah, Newbie, Bullbear and others ... In fact, the first 2 were recently elevated by mainstream media to "super-star" status :-) So, I trust I won’t be missed that much as I have never blogged full-time, but only sometimes.
I would also like to take this opportunity to thank everyone for their fantastic support and for making this blog so enjoyable for me this year. I truly think everyone there is simply the best, and I wish you all the best in the near future!
Merry Christmas, Happy 2008 New Year and A Happy Chinese 2008 New Year to all of you in advance!
Cheers!
Seng.
This is just a short note to let you know that I will be away temporarily from the cbox for say a couple of months starting next week.
Something has turned up for me this weekend, sooner than expected. It is not investing related but something very meaningful to me that I would prefer to put more focus on. Also, there are other personal projects that I have not started/spent enough time on. Hence this temporary absence.
When I looked back at 2007 year, I thoroughly enjoy investing and trading. Perhaps worthy to mention is that even if I don't earn a single cent from today onwards, 2007 will already be by far, the best investing year in my life. Looking back, investing has grown to occupy far more than what I had orignally intended at the start of 2007, so, this temporary absence seems timely to reseek balance.
I will still trade but occasional and private. I will miss the cbox. To me, the cbox has been a great learning place, very motivational and very enjoyable place to be. I could spend my time there all day, but it would be counter productive to my new goals …
In case some of you may speculate that my sabbatical has something to do with maximizing returns from a market timing perspective, the latter simply has nothing to do with my temporary absence.
So, do continue to chat in my cbox. Treat this like your own home, a place where you can make new friends, keep old friendship, exchange and explore new investing/trading ideas, a place where you generally find it useful for your own personal investing development.
For your information, the cbox still receives over 1,000+ views a day. There are 200 registered members there, and a few gurus such as Dali, Moolah, Newbie, Bullbear and others ... In fact, the first 2 were recently elevated by mainstream media to "super-star" status :-) So, I trust I won’t be missed that much as I have never blogged full-time, but only sometimes.
I would also like to take this opportunity to thank everyone for their fantastic support and for making this blog so enjoyable for me this year. I truly think everyone there is simply the best, and I wish you all the best in the near future!
Merry Christmas, Happy 2008 New Year and A Happy Chinese 2008 New Year to all of you in advance!
Cheers!
Seng.
Wednesday, November 14, 2007
Some thoughts on Stop Loss – CBSTECH
I was chatting with "CJLiew" this evening about CBSTECH and after our chat, it prompted me to write this article.
The background is that CJ and a couple of the other people on the chat box have the good fortune of buying CBSTECH when it was rising the last few days, and in his case, he managed to get some at an amazing price of 65.5 sen which is quite near the recent bottom! Anyway, with CBSTECH closing at 92.5 sen, that’s already over 40% return in a rather short time period. (see chart).
Anyway, originally, he was thinking of disposing this at $1. Today’s opening was 89 sen (a 1.5 sen gap up from yesterday’s closing) which was also the low for the day, rose to a high for 94.5 sen, and closed lower at 92 sen. Originally, he asked for my advice whether he should hold out for $1 before disposing all. Personally, he thought it could make $1.10.
Since I don’t own the stock and has not really followed it from a fundamental perspective, I don’t know. He asked me for my TA perspective.
Sometimes, I do give TA commentaries on the chatbox, but I noticed that often it doesn’t always generate feedback, so, I have no idea whether my comments were blindly accepted or ignored. Also, TA skills is really something one should acquire for oneself, rather than continue to rely on someone else. And after a while, it can get tiring to me as well. So, this time, I thought I’d ask questions instead of parroting out my (probably tiring) opinions.
Our conversation (slightly edited for better reading and clarity) went something like this. Note that since this is a popular chatbox with around 170 registered members and several conversations happening at the same time, it is very difficult to follow the conversation. So, for your simplicity, I have extracted them here.
cjliew: btw seng any chance to help me to look at TA outlook on CBS?
Seng: Well, CJ, what's your take on CBS?
cjliew: my take on CBS is there is strong chance it will take out its all time high at RM1.10 … looking the the way cbs is moving for the past 3 days …but my concern is i think there is a very strong resistence at RM1
Seng: What about today's price action for CBS? Sense some weakness?
cjliew: well high was 94 but it closed at 92 so not bad at all … vol wise day 1 was abt 13K, yesterday was abt 23K but today is higher at 33K
Seng: Well, not bad, but not (perfect) too ... especially if you compared to last 5 days – there (last 5 days) the closing was very strong, right?
cjliew: … the highest vol was 146K … tat was when it hit RM1.10 in july … so i m not sure just rely on vol …
Seng: … (that) is a good observation over the last 3 days ... but I wouldn't put too much (i.e. 100%) significance on things that happened a long time ago.
cjliew: ic so u sense cbs is toppish at 94.5? … i was thinking of selling tommorrow at near RM1 … wat do u think?
Seng: Well, to keep it simple, to me, ... today, we just saw the first day of possible weakness. That's a sign to pay attention to.
(It’s natural to) have "hopes" of (the price) repeating or exceeding previous high. But as a trader, you need to put those "hopes" aside (and focus on the price/volume tomorrow). (In particular, …) observe for price weakness. (When you see them,) be prepared to get out or get smaller immediately. E.g. at this stage of the game (with such a strong run-up), I would want to see good volume in the first half tomorrow (or earlier) ... if there isn't it's time to get smaller. Basically, if you sense some uncertainty, it's time to get out or get smaller. you can't pick the top always, but you can get smaller. E.g. what stop loss do you want to set for CBS?
cjliew: well my cost is 65.5 so sitting in a profit position … i just dont want miss the boat loh
Seng: Right, but you want a trailing stop loss which is better. To wait until it fall to 65.5 sen and then sell is too late. You'll be committing a very bad principle of turning your profits into nothing. So, you'll need to raise your stop loss to a higher price.
cjliew: any suggestion?
Seng: Well, what does the charts tell you as a possible support level?
cjliew: i m consider a newbie
Seng: Well, what about today's intra-day charts - does it give you any hint where you should put your stop loss? (the point of asking this question is not that stop loss should be automatically based on intra-day charts, but to get CJ to do the work himself – notice how I consciously didn’t want to give an answer).
cjliew: ok i m not very good at this i think the support shld b at 88 … then follow by 80 ctns … which is the high for the past 2 days …
today's low was 89 and high was 94.5 … so stop loss at 90 ctns?
Seng: CJ, that's fine since there's no single right answer. But there are some answers which are more "obvious" than others. E.g. recent low is one. The other is Moving Average supports. The other is recent highs (that are lower than current price). These are some of the obvious ones.
cjliew: so stop loss at 90 is right? …
sorry seng i m just trying to ride on the gain as high as possible … may b u can share wat shld b the stop loss price?
Seng: As a trader, it is important to keep it confidential to only yourself the exact stop loss level. never make it public, because (price manipulators or) syndicates can (potentially) take advantage of this. But basically, pick a point where it is slightly below obvious levels, or sometimes, above obvious levels (the goal is to vary it so that it is not obvious) . Basically (you have alternatives – e.g. one possible thing ) you could do when the upward momentum is still strong is not to execute your stop loss in full. instead, sell say 50% (or another multiple, which can be up to 100%) at the (first) predetermined stop loss level. This may not be optimum, but should let you ride at least 80%-90% of the upside.
Seng: E.g. if (and it can be a different number), you decide to have a stop loss at say 88 sen, then, when the price hit 88 sen and is going down fast, you put a sell order to sell at 87.5 or even 87 sen for half of what you got. You just must run (execute your first stop loss) at all cost and fast. Then, wait ... if it keeps falling to 80 sen, and let say your 2nd stop loss level is 80 sen, this time, you don't have to execute it hard because you already got half out at 87 sen. The first stop loss is often not negotiable, but in this situation (where you have lots of profits), the second one, you can give a bit of leeway depending on downfall strength (although not encouraged for beginners), because sometimes, manipulators do this to scare off the weak holders. but I don't have a necessarily fixed strategy for stop loss.
E.g. if price falls below 80 sen, this means you got out 50% at 87 sen and 50% at 80 sen, with an average out price of 83.5 sen. You have protected a lot of your gains since your buy is 65.5 sen. It is decent for a stock that makes a rapid decline. And if your first stop is hit but your 2nd isn't, you've bought insurance and can ride the rest up without fear. The key is never turn a profitable position into a losing position. If you can do this, you'd be hands up above a lot of other people.
In other words, by tomorrow morning, you must already know for yourself 2 important numbers (= the 2 stop loss levels). And when you watch the intra-day ticks moving tomorrow morning, it's a chance for you to revise your stop loss levels. Remember, stop loss levels can never be revised downwards, only upwards. … Even if price falls much faster than you can catch, you must execute it to the best of your ability. Else, you'll be in trouble.
Seng: I nearly got into trouble with my Petroch-C1 (recently) .. I made a mistake of giving a bit of leeway to my first stop loss of $1 that Monday morning. but when it fell below that fast, I execute it fast and only managed to get out completely at 95 sen. And that act protected me a lot, as you can see today (51 sen). If you find this skill a useful one in future, then, I hope you use any future profits to make this world a better place for us to live in ...
Another reader commented on this, which is why I am writing this article for future reference.
ks: Seng if u would hv mention abt this stop loss method earlier,I would not hv lose back all my Petro c1 gain sob sob
So, that’s roughly the gist of our conversation. I don’t pretend that I gave the best possible response, as this is just a chit chat sandwiched in between other conversations, and I haven’t really stopped and think critically how I should best phrase my responses as they are off the fly. So, there could be valid criticism to this sort of advice.
Upon writing this, I reflect a few additional things:
1. There is nothing necessarily wrong to sell on strength as CJ originally planned. E.g. the market might give him the chance to sell at $1 tomorrow, and this could be better than 50/50 chance in view of the recent momentum. Perhaps it’s worth mentioning that the risk of course is that if he sells at $1, and it then goes up to an even higher figure, then, he might kick himself for “selling too early”, whereas a properly set stop loss still allows full exposure to further orderly upside and limiting downside risks.
2. But countering 1. is that price rises tend to be more gradual (although CBS price rise in last few days is anything but gradual), whereas price downfall tend to be very quick, so, for someone who can’t monitor every minute during trading hours, maybe it is a better and more practical strategy to just sell some on strength. E.g. take a quarter’s profit (or another number), and leave three-quarter’s on the table to bring the average cost down to well below 62 sen. (Aug 17 close).
3. It is often said that “the first stop loss is often the Best stop loss”. So, someone might argue that my advice to sell half on the first stop loss and another half on the 2nd stop loss might not be efficient. That’s true, and I won’t debate which is better since this is an individual decision. If we all have the same decision, then, the price manipulators can easily manipulate the market. Let’s make his job a little bit more difficult …
4. I suspect many CBS players will be "hoping" for a repeat of 9 Jul where volume topped 14.6 million and the price rides to a wonderful $1.10. That’s a natural hope - it could happen, and $1.10 could even be exceeded. But let's not kid ourselves. At the time of writing, all this is is just "hope". And in serious trading, “hope” really has no place during trading hours. During trading hours, never be stubborn and cling to “hope” when the price action shows otherwise (even when volume action shows a repeat). Always listen to Mr Market, and never try to argue with him.
5. During trading hours tomorrow, please don't ask me whether it is time to execute stop loss - you won't have the time.
6. Remember that all numbers mentioned here are simply hypothetical. You must assume the price manipulators exist, and have read this article, and not only that, but have already planned what to do in this coming days when it comes to distribution time. So, keep your stop loss and your plans confidential. I would prefer if the chatters would not adopt the alternative strategy of confusing readers in the hope of confusing the price manipulators, since this latter strategy have the effect of misleading innocent readers.
Anyway, I personally don’t have any position in CBS (which is why I can write this article with full conscience). As usual, trade (buy, hold, sell) at your own risks.
Happy Trading and don’t forget your stop loss!
The background is that CJ and a couple of the other people on the chat box have the good fortune of buying CBSTECH when it was rising the last few days, and in his case, he managed to get some at an amazing price of 65.5 sen which is quite near the recent bottom! Anyway, with CBSTECH closing at 92.5 sen, that’s already over 40% return in a rather short time period. (see chart).
Anyway, originally, he was thinking of disposing this at $1. Today’s opening was 89 sen (a 1.5 sen gap up from yesterday’s closing) which was also the low for the day, rose to a high for 94.5 sen, and closed lower at 92 sen. Originally, he asked for my advice whether he should hold out for $1 before disposing all. Personally, he thought it could make $1.10.
Since I don’t own the stock and has not really followed it from a fundamental perspective, I don’t know. He asked me for my TA perspective.
Sometimes, I do give TA commentaries on the chatbox, but I noticed that often it doesn’t always generate feedback, so, I have no idea whether my comments were blindly accepted or ignored. Also, TA skills is really something one should acquire for oneself, rather than continue to rely on someone else. And after a while, it can get tiring to me as well. So, this time, I thought I’d ask questions instead of parroting out my (probably tiring) opinions.
Our conversation (slightly edited for better reading and clarity) went something like this. Note that since this is a popular chatbox with around 170 registered members and several conversations happening at the same time, it is very difficult to follow the conversation. So, for your simplicity, I have extracted them here.
cjliew: btw seng any chance to help me to look at TA outlook on CBS?
Seng: Well, CJ, what's your take on CBS?
cjliew: my take on CBS is there is strong chance it will take out its all time high at RM1.10 … looking the the way cbs is moving for the past 3 days …but my concern is i think there is a very strong resistence at RM1
Seng: What about today's price action for CBS? Sense some weakness?
cjliew: well high was 94 but it closed at 92 so not bad at all … vol wise day 1 was abt 13K, yesterday was abt 23K but today is higher at 33K
Seng: Well, not bad, but not (perfect) too ... especially if you compared to last 5 days – there (last 5 days) the closing was very strong, right?
cjliew: … the highest vol was 146K … tat was when it hit RM1.10 in july … so i m not sure just rely on vol …
Seng: … (that) is a good observation over the last 3 days ... but I wouldn't put too much (i.e. 100%) significance on things that happened a long time ago.
cjliew: ic so u sense cbs is toppish at 94.5? … i was thinking of selling tommorrow at near RM1 … wat do u think?
Seng: Well, to keep it simple, to me, ... today, we just saw the first day of possible weakness. That's a sign to pay attention to.
(It’s natural to) have "hopes" of (the price) repeating or exceeding previous high. But as a trader, you need to put those "hopes" aside (and focus on the price/volume tomorrow). (In particular, …) observe for price weakness. (When you see them,) be prepared to get out or get smaller immediately. E.g. at this stage of the game (with such a strong run-up), I would want to see good volume in the first half tomorrow (or earlier) ... if there isn't it's time to get smaller. Basically, if you sense some uncertainty, it's time to get out or get smaller. you can't pick the top always, but you can get smaller. E.g. what stop loss do you want to set for CBS?
cjliew: well my cost is 65.5 so sitting in a profit position … i just dont want miss the boat loh
Seng: Right, but you want a trailing stop loss which is better. To wait until it fall to 65.5 sen and then sell is too late. You'll be committing a very bad principle of turning your profits into nothing. So, you'll need to raise your stop loss to a higher price.
cjliew: any suggestion?
Seng: Well, what does the charts tell you as a possible support level?
cjliew: i m consider a newbie
Seng: Well, what about today's intra-day charts - does it give you any hint where you should put your stop loss? (the point of asking this question is not that stop loss should be automatically based on intra-day charts, but to get CJ to do the work himself – notice how I consciously didn’t want to give an answer).
cjliew: ok i m not very good at this i think the support shld b at 88 … then follow by 80 ctns … which is the high for the past 2 days …
today's low was 89 and high was 94.5 … so stop loss at 90 ctns?
Seng: CJ, that's fine since there's no single right answer. But there are some answers which are more "obvious" than others. E.g. recent low is one. The other is Moving Average supports. The other is recent highs (that are lower than current price). These are some of the obvious ones.
cjliew: so stop loss at 90 is right? …
sorry seng i m just trying to ride on the gain as high as possible … may b u can share wat shld b the stop loss price?
Seng: As a trader, it is important to keep it confidential to only yourself the exact stop loss level. never make it public, because (price manipulators or) syndicates can (potentially) take advantage of this. But basically, pick a point where it is slightly below obvious levels, or sometimes, above obvious levels (the goal is to vary it so that it is not obvious) . Basically (you have alternatives – e.g. one possible thing ) you could do when the upward momentum is still strong is not to execute your stop loss in full. instead, sell say 50% (or another multiple, which can be up to 100%) at the (first) predetermined stop loss level. This may not be optimum, but should let you ride at least 80%-90% of the upside.
Seng: E.g. if (and it can be a different number), you decide to have a stop loss at say 88 sen, then, when the price hit 88 sen and is going down fast, you put a sell order to sell at 87.5 or even 87 sen for half of what you got. You just must run (execute your first stop loss) at all cost and fast. Then, wait ... if it keeps falling to 80 sen, and let say your 2nd stop loss level is 80 sen, this time, you don't have to execute it hard because you already got half out at 87 sen. The first stop loss is often not negotiable, but in this situation (where you have lots of profits), the second one, you can give a bit of leeway depending on downfall strength (although not encouraged for beginners), because sometimes, manipulators do this to scare off the weak holders. but I don't have a necessarily fixed strategy for stop loss.
E.g. if price falls below 80 sen, this means you got out 50% at 87 sen and 50% at 80 sen, with an average out price of 83.5 sen. You have protected a lot of your gains since your buy is 65.5 sen. It is decent for a stock that makes a rapid decline. And if your first stop is hit but your 2nd isn't, you've bought insurance and can ride the rest up without fear. The key is never turn a profitable position into a losing position. If you can do this, you'd be hands up above a lot of other people.
In other words, by tomorrow morning, you must already know for yourself 2 important numbers (= the 2 stop loss levels). And when you watch the intra-day ticks moving tomorrow morning, it's a chance for you to revise your stop loss levels. Remember, stop loss levels can never be revised downwards, only upwards. … Even if price falls much faster than you can catch, you must execute it to the best of your ability. Else, you'll be in trouble.
Seng: I nearly got into trouble with my Petroch-C1 (recently) .. I made a mistake of giving a bit of leeway to my first stop loss of $1 that Monday morning. but when it fell below that fast, I execute it fast and only managed to get out completely at 95 sen. And that act protected me a lot, as you can see today (51 sen). If you find this skill a useful one in future, then, I hope you use any future profits to make this world a better place for us to live in ...
Another reader commented on this, which is why I am writing this article for future reference.
ks: Seng if u would hv mention abt this stop loss method earlier,I would not hv lose back all my Petro c1 gain sob sob
So, that’s roughly the gist of our conversation. I don’t pretend that I gave the best possible response, as this is just a chit chat sandwiched in between other conversations, and I haven’t really stopped and think critically how I should best phrase my responses as they are off the fly. So, there could be valid criticism to this sort of advice.
Upon writing this, I reflect a few additional things:
1. There is nothing necessarily wrong to sell on strength as CJ originally planned. E.g. the market might give him the chance to sell at $1 tomorrow, and this could be better than 50/50 chance in view of the recent momentum. Perhaps it’s worth mentioning that the risk of course is that if he sells at $1, and it then goes up to an even higher figure, then, he might kick himself for “selling too early”, whereas a properly set stop loss still allows full exposure to further orderly upside and limiting downside risks.
2. But countering 1. is that price rises tend to be more gradual (although CBS price rise in last few days is anything but gradual), whereas price downfall tend to be very quick, so, for someone who can’t monitor every minute during trading hours, maybe it is a better and more practical strategy to just sell some on strength. E.g. take a quarter’s profit (or another number), and leave three-quarter’s on the table to bring the average cost down to well below 62 sen. (Aug 17 close).
3. It is often said that “the first stop loss is often the Best stop loss”. So, someone might argue that my advice to sell half on the first stop loss and another half on the 2nd stop loss might not be efficient. That’s true, and I won’t debate which is better since this is an individual decision. If we all have the same decision, then, the price manipulators can easily manipulate the market. Let’s make his job a little bit more difficult …
4. I suspect many CBS players will be "hoping" for a repeat of 9 Jul where volume topped 14.6 million and the price rides to a wonderful $1.10. That’s a natural hope - it could happen, and $1.10 could even be exceeded. But let's not kid ourselves. At the time of writing, all this is is just "hope". And in serious trading, “hope” really has no place during trading hours. During trading hours, never be stubborn and cling to “hope” when the price action shows otherwise (even when volume action shows a repeat). Always listen to Mr Market, and never try to argue with him.
5. During trading hours tomorrow, please don't ask me whether it is time to execute stop loss - you won't have the time.
6. Remember that all numbers mentioned here are simply hypothetical. You must assume the price manipulators exist, and have read this article, and not only that, but have already planned what to do in this coming days when it comes to distribution time. So, keep your stop loss and your plans confidential. I would prefer if the chatters would not adopt the alternative strategy of confusing readers in the hope of confusing the price manipulators, since this latter strategy have the effect of misleading innocent readers.
Anyway, I personally don’t have any position in CBS (which is why I can write this article with full conscience). As usual, trade (buy, hold, sell) at your own risks.
Happy Trading and don’t forget your stop loss!
Saturday, November 10, 2007
Lower Unregistered Chatbox Removed
As you will have already noticed, I have removed the previous "lower unregistered chatbox". If you have been following this blog every day, then, you will already know the reasons.
For those of you who don't, my original purpose in setting the chatboxes was a positive one, and it still is. Amongst other things, it is to promote a positive learning environment, to promote constructive discussions of mutual topics of interests, etc. However, it is clear especially in the last fortnight, that it has not only failed to achieve any of these positive objectives, but instead fostered destructive comments.
One individual, who called himself by various names - "snail", "lansi", and later morphed into respected members of the above boxes by calling himself "newbie", "bullbear", etc. - was very persistent in "spamming". He has been spamming persistently - nearly everyday over the last fortnight, as well as in the past. Each spam typically blocks out the entire conversation of the chatboxes with multiple comments of the same message, sometimes up to 20(!) identical comments to completely block out the chatbox, leaving only his spam. This typically happens at least once a day, sometimes twice or even three times a day! Over the last fortnight, easily 80%-90% of the entries are his alone.
I don't keep a copy of the contents of the spams. Suffice to say they are destructive and in no way useful if one is genuine to seeking improvement to his investing results.
Actually, I thought that some of the spam contents could have been interesting topics of discussions. I invited him to discuss rationally several times. He would ignore and sometimes, even increase the intensity of the spam, personal attacks and verbal abuse.
Everyone in both chatboxes tried to ignore him, but his persistence in spamming eventually got some fed up. Attempts to tell him to stop fell on deaf ears. Kind and generous advices were ignored and received intensified abuse. A few - perhaps out of desperation - gave him a small dose of his own medicine. That made it worse and created a war. If you think I was describing a verbal warzone, you would not wrong - the words used by and to describe lansi are crude and disgusting to say the least.
Whilst I am appreciative of the many supporting comments and attempts to return the lower cbox to sanity, it had become tiring and impossible for everyone.
Chances were given many times to stop or discuss rationally. Finally, after the most patient trying attempt, last night, I let him decide whether he want to stop or face the consequences (that the cbox would be removed if he continued his antics).
When I logged in this morning, he chose to continue his irresponsible behaviour without care nor regard to the rest of the online community. Hence, I had no choice but to remove the chatbox. It is a real shame that he had chosen to do this.
Notwithstanding this, the person is still most welcome to present his views here. All he has to do is to register with me to chat at the top chatbox. And I can still be contacted on my email - fusion.investor@gmail.com - as stated above. I would urge him to be respectful to everyone there. Basically treat others how you would like to be treated. Certainly, irrational and irresponsible behaviour has never been, and will never be acceptable nor welcomed in this blog.
Take care and happy trading!
For those of you who don't, my original purpose in setting the chatboxes was a positive one, and it still is. Amongst other things, it is to promote a positive learning environment, to promote constructive discussions of mutual topics of interests, etc. However, it is clear especially in the last fortnight, that it has not only failed to achieve any of these positive objectives, but instead fostered destructive comments.
One individual, who called himself by various names - "snail", "lansi", and later morphed into respected members of the above boxes by calling himself "newbie", "bullbear", etc. - was very persistent in "spamming". He has been spamming persistently - nearly everyday over the last fortnight, as well as in the past. Each spam typically blocks out the entire conversation of the chatboxes with multiple comments of the same message, sometimes up to 20(!) identical comments to completely block out the chatbox, leaving only his spam. This typically happens at least once a day, sometimes twice or even three times a day! Over the last fortnight, easily 80%-90% of the entries are his alone.
I don't keep a copy of the contents of the spams. Suffice to say they are destructive and in no way useful if one is genuine to seeking improvement to his investing results.
Actually, I thought that some of the spam contents could have been interesting topics of discussions. I invited him to discuss rationally several times. He would ignore and sometimes, even increase the intensity of the spam, personal attacks and verbal abuse.
Everyone in both chatboxes tried to ignore him, but his persistence in spamming eventually got some fed up. Attempts to tell him to stop fell on deaf ears. Kind and generous advices were ignored and received intensified abuse. A few - perhaps out of desperation - gave him a small dose of his own medicine. That made it worse and created a war. If you think I was describing a verbal warzone, you would not wrong - the words used by and to describe lansi are crude and disgusting to say the least.
Whilst I am appreciative of the many supporting comments and attempts to return the lower cbox to sanity, it had become tiring and impossible for everyone.
Chances were given many times to stop or discuss rationally. Finally, after the most patient trying attempt, last night, I let him decide whether he want to stop or face the consequences (that the cbox would be removed if he continued his antics).
When I logged in this morning, he chose to continue his irresponsible behaviour without care nor regard to the rest of the online community. Hence, I had no choice but to remove the chatbox. It is a real shame that he had chosen to do this.
Notwithstanding this, the person is still most welcome to present his views here. All he has to do is to register with me to chat at the top chatbox. And I can still be contacted on my email - fusion.investor@gmail.com - as stated above. I would urge him to be respectful to everyone there. Basically treat others how you would like to be treated. Certainly, irrational and irresponsible behaviour has never been, and will never be acceptable nor welcomed in this blog.
Take care and happy trading!
Subscribe to:
Posts (Atom)