How to deposit SGD funds to Moomoo - Trading Journal 3 Jun 2021 - Sold JOB

On a day when AMC got suspended, I switched to a new trading platform. 

Yesterday, I opened an account with Futu SG via the Moomoo app.

👉https://j.moomoo.com/005lWj

Today, I made the first deposit of funds.

  • There are 2 ways to deposit funds.
  • Instant Deposit via DDA or Bank Transfer. 

  • I want instant so I chose Instant Deposit.
  • Next, I have to link my bank. I wonder what if I don't have a DBS bank. 
  • After linking, I deposited S$2700.

  • Moomoo app is like a game with these gamified type of notifications. 

  • I am now ready to trade on Moomoo.
  • I will withdraw my funds from the other trading platform after I make my first successful trade on Moomoo. 

How's my purchasing power today?

  • I can buy 2 stocks using Moomoo. 
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.
  • 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?
  • JOB. Bought $0.55. Target $0.59. 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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