How to Open Futu SG Moomoo Account the Stock Trading Platform With Stop Loss Order - Trading Journal 2 Jun 2021 - Sold RKT

Money is lost trying to hold losing stocks. 😱

Today, I am starting a new strategy with a compulsory stop-loss order.  

Why the change?

✅ Supertrend stopped working - Ever since the market recovered from the Covid pandemic, my Supertrend strategy is giving me wrong signals. 

✅ Trading and not investing - I am now holding on to a bunch of losing stocks because I come from the investment side, hence the buy and hold mindset. 

✅ Time to stop loss - Losing stocks tend to keep losing. Most have no dividends. They may take years to recover to my buying price. So let's practice stop loss. 

There is one problem. My current stock trading platform does not have a stop-loss order. 

Coincidently, my brother introduced a new service with what I want including...

👍 $0 commission for the first 180 days. 

👍 1 free Apple stock with the first deposit of S$2500. 

👍 1 free Twitter share when I recommend a friend.

This is MooMoo by Futu SG...

👉https://j.moomoo.com/005lWj

Let's take action...

  • Downloaded and installed the Moomoo app.
  • Opened a Moomoo account with avi Gmail. 
  • Given a 9-digit Moomoo ID. 
  • Next, open a Futu SG account. 
  • I am being welcomed onboard.
  • Submitted my particulars via Singpass.
  • Answered some income questions. 
  • Agreed with margin trading understanding.
  • Account set up may take 1 to 3 days. 
  • The account was approved in less than 5 minutes (on a Wednesday at 11 pm) with one more email verification. 
  • Next, open a US stock account and deposit S$2700 for that free Apple stock. 😃

How's my purchasing power today?

  • I can buy 1 stock. 
  • Ignore buying today.    
Any stocks in my Yahoo Finance watchlist to buy? 
  • Ignored

 Any tips from TraderTV Live?
  • Ignored. 
Question to self: How to track medical biotech stocks, meme stocks, and penny stocks?


Which stock in hand can I sell?
  • ADVM. Bought $4. Stop $3.47. Target $4.5. 
  • METX. Bought $1.60. Stop $1.53. Target $1.90.
  • JOB. Bought $0.55. Target $0.59. Sold partially.
  • KALA. Bought $5.62? (Picked from Rookie sPring Scanner May 2021) Sell $5.95. Stop $5.30.
  • PULM. Bought $0.93. Target $1.05. Stop?
  • RKT. Bought $18.3. Target $19.69. Sold!





Crypto

See you tomorrow. 

~ Rookie Trader 

PS: I would like to thank the following...


What did I learn?
  • Buy on dip from late April to early May 2021.
  • "Sell in May and go away" is an investment adage warning investors to divest their stock holdings in May and wait to reinvest in November. From 1950 to around 2013, the Dow Jones Industrial Average posted lower returns during the May to October period, compared with the November to April period. ~ https://www.investopedia.com/terms/s/sell-in-may-and-go-away.asp
  • Since 1950, September has been the worst month of the year for stocks on average. And when August is a particularly strong month, September is an especially bad month for stocks.~ https://markets.businessinsider.com/news/stocks/stock-market-outlook-september-worst-month-year-lpl-strategy-buy-2020-8-1029549498
  • Supertrend strategy doesn't work after an uptrend. 
  • New strategy. Fibonacci Pivot Point Resistance and Support.
  • Queue GTD for every buys and sells. 
  • 10% strategy is not efficient. 5% profit is faster to reach. Hence Change to >$100 target strategy instead. 
  • Buy quickly once I identify a stock to buy.
  • Missed SEAC spike 3 times within a week. Dropped to negative immediately after the spike. Lesson - Queue up to sell using GTD. Forget about using alerts.
  • Premarket moves are irrelevant and distracting. Stop tracking them. 
  • Buying at the market close is not a good idea. Too many premature supertrend false alarms. Stop trading the closing hour. 
  • Sell immediately if price spikes on news.
  • Missed the NFT STOCKS!!!!! Pay attention to the next trend.
  • Follow most-watched stocks on yahoo finance coz they are more volatile. 
  • I missed many buy signals in the travel industry. So please Monitor all related big movers every day.  
  • Remove emotion from the equation.
  • Sell. Don't hold. Don't be greedy. 
  • Sell when the target is hit. Don't hold. 
  • I need a cut-loss strategy.
  • If I don't sell, I will have no capital to buy. 
  • Stop thinking that I should have held the stock that rose 100% times up after selling. Remember SEAC. Locking the profits at hand is better than risking the opposite direction. 

How to recover from stock market losses? How to recover my money lost? How to win my trading losses back? 

1. Change my mindset to making money and “NOT recovering”. It is a very common trap and you should not fall into it. ~ https://www.quora.com/How-do-I-recover-a-loss-in-a-share-market

2. The best way to recover after losing money in the stock market is to invest again. Don't "stick your head in the sand and put your money under the mattress, because you'll never recover that way". ~ https://money.usnews.com/investing/investing-101/articles/how-to-recover-after-loss-in-the-stock-market

3. Do not be in a hurry to recover the money immediately but wait for the market to give you the opportunity.  ~ https://www.motilaloswal.com/blog-details/How-to-go-back-to-equities-after-you-have-lost-money/1390

4. Take some time to diagnose what went wrong. Assess your stock market loss so that you can make changes. ~ https://www.google.com/amp/s/www.savagelaw.us/blog/amp/how-to-recover-from-a-major-stock-market-loss/


















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