Constipated Market

So much for no losing months. Boo.

Big Ego Burst. Kaboom.

Month of august really floored my portfolio gains. A realized loss of nearly $11000. Great... Wiped out slightly more than what I earned in the past few months.

Now I'm studying all my charts again. Pretty convinced that technical analysis doesn't seem to work in volatile charts in the recent weeks. Recent sub-prime effect from the US has caused uncertain market directions with the exception of China's market, soon to breach 5000pts.

Day trading on Dow Jones will prove to be more profitable and less risky, but will have to gather more like-minded dudes (around my age, can't find any. not surprised). Will be attending Conrad's Pattern Trading Tutorial, had to convince my dad I'll pay for it in full. Its a frigging $3200 for 9 lessons. Ouch. Painful. But worth it since he's a professional full-time trader. Most people would think I'm crazy to pay so much, but if its to cut my learning curve of intra-day trading by 2 years, I'll pay for it.

Friend of mine suffered heavy losses (30k) recently. Think he's really going about trading the wrong way, using extremely high margin to leverage on his capital. Sure, he makes 10k a week, but the adrenalin rush will probably kill even Frankenstein.

To all my trading and investing buddies. We'll ride past this correction soon!