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Monday, February 18, 2008

Kena Fakeout!

Further to my yesterday chart reading of uptrend bias KLCI chart, I think I kena its fakeout today. What is a fakeout? According to Investopia, fakeout is "A term used in technical analysis to refer to a situation in which a trader enters into a position in anticipation of a future transaction signal or price movement, but the signal or movement never develops and the asset moves in the opposite direction."

As a result of uptrend bias, I lost 3pts at FKLI.

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Words borrowed from Dr. Alexander Elder:

Trading is so exciting that it often makes amateurs feel high ...Nobody can get high and make money at the same time.

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