Friday 27 January 2012

Successful Trade

It's been a while since I posted. I'm still settling in my new job and setting up a new brokerage account due to work restrictions.

I just made my first successful trade since I started this blog, in DBE. Bought it the day following the news that CI Holdings were interested in acquiring a stake in DBE. It opened at 12 sen but I didn't bite, thinking that the 20++% rise the day before should attract some profit taking activities. I queued my buy order at 11 sen and got hit.

Set my stop loss at 8.5 sen (2.5 sen risk) and set my target profit around 13.5-14 sen. (2.5-3 sen reward).

Closed the trade at 13.5 sen today for a close to RM800+ profit or 4.5% gain in equity.

Although a lousy 1:1 reward to risk ratio, I just needed to trade to get my bearings back. So I consider this to be a B-grade trade.