本文发表在 rolia.net 枫下论坛1. He was extremely confident. He asked other people to follow him so they can take a quick profit of 10-20%. He has been boasting here for his, so this wrong call makes him a joke. If it is other poeple who made this call, I don't think you guys will care about it.
2. He entered long stock position at $74, and cut a loss at $69. I should say he is professional and quick managing his loss. For amateur investors, they will sink to the current $65 level and wait for break even later. When FXP dropped to 70 that morning, I did not take it serious because I saw European markets was down. You may ridicule at me that I am not professional and I don't understand Chinese stocks and markets.
3. I did not take stock positions directly. Instead, I short sold FXP May 20008 $70 puts for $4.1. I was not as confident as Mr. Wang. I left a buffer in my position because I believe I could be wrong at any time. Even though FXP sank under $65, I did not cut loss. I am still hopeful in making a profits in my position, at least breaking even. I did not cut loss because I found I was at the bottom when I became aware I was totally wrong.
4. Don't expect other people to make nice calls and escort his followers quickly. I used to subscribe some professional services. When I received their calls, it's too late for me to take positions. When they call for closing positions, I usually got emails in the evening! The market is changing too fast. I can tell you why I have sunken with my FXP positions: On that morning, even before the market opens, I focused on fertilzer stocks MOS, CF, and POT. Some unexperienced guys were buying them, but I found there would be a sell-off. For this reason, I simply ignored my FXP positions. Can I call other people to short sell those fertilizer stocks on that morning? No! I short sold at 8:40 an covered at $9:47. For such as short trade, nobody can arrange other people in and out.
5. This forum can only be used as a sounding board. We can post our ideas here, and see how other people think about them. For example, I short sold MOS for some short term trading one week ago. After I heard Scotte's comments, I stopped immediately because I would rather miss a trade than be wrong. We should not make trade decisions based upon the communications we have done in this forum.
6. Feel easy when some other people are boasting here. Financial advisors are just a profession, like a doctor. Most of them can talk about the stock market like a pro. That's it. Of course, some of them may think they are market experts. We should not spend time in arguing with them. If you read those Chinese stock commentators for A-shares, you will laugh. But they will have time to be right. For example, a lot of guys are boasting for having succussfully calling a bottom this time in Shanghai.
7. I think this incidence is a very very good one. Otherwise, Mr. Wang will have a lot of followers here in this forum and then there will be a big disaster. HE has given all of us a good lesson: To make money, we have to use our own brains, not to borrow other people's trading ideas.更多精彩文章及讨论，请光临枫下论坛 rolia.net
2. He entered long stock position at $74, and cut a loss at $69. I should say he is professional and quick managing his loss. For amateur investors, they will sink to the current $65 level and wait for break even later. When FXP dropped to 70 that morning, I did not take it serious because I saw European markets was down. You may ridicule at me that I am not professional and I don't understand Chinese stocks and markets.
3. I did not take stock positions directly. Instead, I short sold FXP May 20008 $70 puts for $4.1. I was not as confident as Mr. Wang. I left a buffer in my position because I believe I could be wrong at any time. Even though FXP sank under $65, I did not cut loss. I am still hopeful in making a profits in my position, at least breaking even. I did not cut loss because I found I was at the bottom when I became aware I was totally wrong.
4. Don't expect other people to make nice calls and escort his followers quickly. I used to subscribe some professional services. When I received their calls, it's too late for me to take positions. When they call for closing positions, I usually got emails in the evening! The market is changing too fast. I can tell you why I have sunken with my FXP positions: On that morning, even before the market opens, I focused on fertilzer stocks MOS, CF, and POT. Some unexperienced guys were buying them, but I found there would be a sell-off. For this reason, I simply ignored my FXP positions. Can I call other people to short sell those fertilizer stocks on that morning? No! I short sold at 8:40 an covered at $9:47. For such as short trade, nobody can arrange other people in and out.
5. This forum can only be used as a sounding board. We can post our ideas here, and see how other people think about them. For example, I short sold MOS for some short term trading one week ago. After I heard Scotte's comments, I stopped immediately because I would rather miss a trade than be wrong. We should not make trade decisions based upon the communications we have done in this forum.
6. Feel easy when some other people are boasting here. Financial advisors are just a profession, like a doctor. Most of them can talk about the stock market like a pro. That's it. Of course, some of them may think they are market experts. We should not spend time in arguing with them. If you read those Chinese stock commentators for A-shares, you will laugh. But they will have time to be right. For example, a lot of guys are boasting for having succussfully calling a bottom this time in Shanghai.
7. I think this incidence is a very very good one. Otherwise, Mr. Wang will have a lot of followers here in this forum and then there will be a big disaster. HE has given all of us a good lesson: To make money, we have to use our own brains, not to borrow other people's trading ideas.更多精彩文章及讨论，请光临枫下论坛 rolia.net