As stated, I did not buy on last Fri because of work. I think it's quite important to take a break after every major winnings. And the last week I did earn quite a bit, around $1500. And to think that last week had only 3 days of trading since Monday was a holiday and Fri I did not trade. This was mainly because HSI went crazy and went up and up away.
Last Fri it did came down around 30 points. Next trading day (next wed) in the new year would be tricky. Dow closed negative 30 points too, nasdaq negative 10 points. My feeling is that HSI would undergo a minor correction, possibly going uptrend again in the afternoon. I said this based on gut feeling only, no real basis for it, so follow as you deemed fit, caveat emptor.
So next wed, I would be nimble and see what is the situation like before plunging in. It's good to be very confident before you jump into any trades. Last time, I used to regret buying a stock immediately after I got it. Nowadays, I would be happy when I successfully got it. That's the difference in pyschology, and a great change in my trading confidence.
Longcheer went up and down, in the end it closed flat. Pac andes is the one that really went up a lot, now it's 0.78. Though I own only a little of Pac andes, it was enough to up my total portfolio to reach a rather nice $3,980. That's a really decent sum.
I would probably reset my earnings and base my first total return for the year 2007 on my existing portfolio of stocks and exclude my past earnings. This is to allow me to have a better idea of how well I'm doing for the year 2007 and to set some concrete goals to meet in the coming new year. I'll make a major revamp of my spreadsheet too, particularly the part about the min and online commission because I always find that it takes up most of my adminstration time after market closed.
Here's a sneak preview of my new goals for stocks in the coming year (i'll give a detailed one when new year comes): $1500 per week, or $6000 per month.
It wouldn't be a goal if it's not a challenge. The main idea here is not so much to reach the goal but to achieve and learn while trying to reach the goal. The journey matters here because i can foresee I'm doing this for the long run, not hit and run. So, the trading skills, confidence and discipline have to be cultivate now while I can still afford to lose. Given another 2-3 years, I don't see how I cannot improve to reach even higher finanical goals that the one stated above. But the last thing I would want to do now is to try to reach that goal at the expense of me trading everyday!! It's both counterproductive and harmful. I don't have to trade everyday, I must only trade when there's a high chance of big profit and a small chance of acceptable losses. That's good risk/reward ratio. Furthermore, if i take care of my losses, I'm sure the profit would take care of itself too.
Enough for now, a wonderful trading year for me in 2006. Opened an account in april, lost 18k and made it back (and more!), refined my warrant trading system. I'm looking forward to trading in 2007 already!