Hi tklmcs,

U r most welcome, it is my pleasure to share by giving back to this forum wat I had benefited from it.

Remember, we are all mere mortals with no divine powers and may be right or wrong at times, so do not just follow blindly, dyodd n BOSAYOR

Hi taitai,

I took a quick look at rickmers n noted tat it is downtrending with the 15ema, 30ema, 50ema, 65ema and even the long-term 200ema all downtrending and price below all the emas.

Personal, I would not go long on this stock unless there is a reversal sign, even then, be wary and exit if it cant break and stay above the emas.

Unless u are playing CFD shorting, a different ballgame then.

Above is jmo, so dyodd n BOSAYOR.

If u r newbie to trading, below is my advice, whether to listen or not is up to u

To succeed in trading, my sincere n genuine advice to newbies:

"Learn to master TA n u are the master of your own trades." - Learn how to spot reversal signs in candlestick charts for entry n exit

"Learn how to fish n u can fend for yourself forever, relying on others n forever u r dependent on others n at their mercy"

"There is no easy way n short-cut to success in life, including trading, all are own hardwork, u need to learn the tools of the trade"
 
U can download the free charting software from www.chartnexus.com (no need to get the paid version, all these can be self-learn,dun waste your money, instead self-learn the skills n use tat money to trade).

I self-learnt, see how analysts do it and practice by covering up the candles and test my knowledge and hone my skills till I m quite confident b4 start trading bcos the mkt is merciless, I rather save the money to trade and multiply it.

Those TA courses, wat they teach, all are from books, nothing new.

For those paid software,even after the software scan, still need our analysis, cannot assume it is 100% correct, as nothing can replace the human brain and knowledge as analysis is an art of how individual interpret, no matter how much they input all the scientific knowledge into the software

If u are not sure, post your charts n hopefully some forumers good in TA will exchange pointers with u.

To know how to post, search the forum for "tinypic.com"

I had created 3 threads dedicated to newbies under "General", "Trading Techniques":

1. "Learning TA" - websites where u can learn TA for free but of course, TA is not infallible, thus need to set stop-loss)

2. "Some recommended good Trading and TA books" - of course u can also buy TA books.

3. "Advices to newbies" particular the 3 golden mantras.

Take your time to read and learn, dun rush, remember "Rome was not built in one day"

taitai      ( Date: 02-Sep-2009 16:37) Posted: well, I am still learning the ropes of TA, hence, blue chips are the way to go for me now, since the FAs are stable for these companies. I hopped on the boat for some counters that were trading way below their NAVs, and if I am determined enuf to wait on for the next 2 years, I believe the returns will be in the region of 2x to 3x or even better. Penny stocks are not the way to go for me currently, as the markets swings and turns like experiencing PMS. Of cuz for the strong-hearted can go in to do some contra-trading with sensible stop-loss. .....  still I am putting my $$$ on Rickmers. I just hope that it sinks a little further, do some accumulation and see it fly.

Taitai... 

Doing the "Buy Low Sell High" thing... hehehe... 

taitai      ( Date: 02-Sep-2009 16:37) Posted: well, I am still learning the ropes of TA, hence, blue chips are the way to go for me now, since the FAs are stable for these companies. I hopped on the boat for some counters that were trading way below their NAVs, and if I am determined enuf to wait on for the next 2 years, I believe the returns will be in the region of 2x to 3x or even better. Penny stocks are not the way to go for me currently, as the markets swings and turns like experiencing PMS. Of cuz for the strong-hearted can go in to do some contra-trading with sensible stop-loss. .....  still I am putting my $$$ on Rickmers. I just hope that it sinks a little further, do some accumulation and see it fly.

Hi taitai,

Many thanks for giving me your respect, but remember I m just another mortal with no divine powers, my analysis is based on to the best of my TA knowledge n may be right or wrong, so dyodd n BOSAYOR and never blame me for any losses as likewise I dun benefit from those tat make money following my analysis.

I too look forward to the day when u can give back to the forum wat u had benefited from it just as I did, I did it not to gain fame or credit but to exchange views.

taitai      ( Date: 02-Sep-2009 13:45) Posted: richtan, I have all the respect for you. many thanks for the constructive and useful posts so far. please keep it up, i m a great fan of yours. Cheers richtan

Nah..Nah...Nah... I m just a private stock trader sharing my years of trading experience, giving back to this forum wat I have benefited from this forum and also learning from all forumers as I adopt an open-minded attitude and receptive to others views but do not read and believe blindly but make my own judgement.

But I will not hesitate if I see any misleading, non-factual, ulterior motive post and will make my views known and will likewise, either praise those tat make good post or rate it as "good" as they really deserve it.

Ooops, my sentence is incomplete, should be:

Hi iPunter,

Many thanks for your compliments, u make me feel appreciated n my head swell but really, I m not blowing my trumpet, it is good to print it out, I even laminate it myself n paste on my walls behind my trading screen to remind myself to post it whenever I noticed any newbies treating trading like gambling or making any un-knowledgeable post to remind them.

richtan      ( Date: 02-Sep-2009 11:04) Posted: Hi iPunter, Many thanks for your compliments, u make me feel appreciated n my head swell but really, I m not blowing my trumpet, it is good to print it out, I even laminate it myself n paste on my walls behind my trading screen to remind myself. iPunter      ( Date: 02-Sep-2009 09:53) Posted: Hope many newbies have already followed my advice and printed out RichTan's post below. For others, please don't procastinate... do it now! Frame it up with a documant holder and place it next to your computer... Because if you don't do this you'll definitely forget everything there. Then it will be a waste of RichTan's good effort... One must always recognise good value when one encounters it...

Hi iPunter,

Many thanks for your compliments, u make me feel appreciated n my head swell but really, I m not blowing my trumpet, it is good to print it out, I even laminate it myself n paste on my walls behind my trading screen to remind myself.

iPunter      ( Date: 02-Sep-2009 09:53) Posted: Hope many newbies have already followed my advice and printed out RichTan's post below. For others, please don't procastinate... do it now! Frame it up with a documant holder and place it next to your computer... Because if you don't do this you'll definitely forget everything there. Then it will be a waste of RichTan's good effort... One must always recognise good value when one encounters it...