After taking up new job early this year, I was not able to trade freely as before. Therefore I have
to rely on the available tools that I have to make my hobby profitable as before. I use my mobile
phone to trade most of the time and now I can really trade freely again.
How I make use of my phone to make trading possible is not without planning? I have studied
how I can make use of the "FREE" software from itunes to alert me when my buy price is near
or the profit taking level has reached. Before that I still do the normal analysis work on the market.
First I would pick up a couple of stocks for analysis and once a particular stock is picked for
potentialtrade the next day, I would have noted the a) entry price, b) cut loss price, c) exit price,
d) take note of the volume if it is above the average or lower.
When a stock is ready to stage a successful upmove, usually the volume will be average to high
and not excessively high. With this information in place, I can start to plan my trade on my phone.
So what I use on my Iphone to assist me with trading ease, the following lists of tools are used:
1) Poems mobile by Philip Security
2) SG Stock Alert "Free" from itunes
First of all, I will run the SG Stock Alert and enter the stock price trigger level for high and low.
For example, if the previous day closed price is $1.00, I will set the high: $1.02, low: $0.97 for the
next day price tracking. The High is the trigger long trade alert while the Low is tell me that the
stock is weak today after open and I will not trade this stock today.
I will enter a stock near market closing most of the time so that I know if the price is near the
high or low of the day before closing. Obviously I want to buy high price near market close with
substantial volume to support the upmove.
When the price triggers $1.02 during the day, it will sound and alert me that a trade to the long
side is possible, I will log on to Poems mobile and check the transacted volume.
If the volume is healthy and above average to high with triggered price level, I will transact using
the phone. I DO NOT QUEUE TO TRADE. I don't queue to sell or buy. When i decide that I
want to buy, I will buy from the sellers' queue and when I sell, I do the same again by selling to
the buyers' queue. Once a transaction is done, an email with transaction information such as lot
size, price level will be sent to my email which I can immediately view my email with push mail
feature on and get back to my normal work routine.
Ok, you may ask me what happen after I bought a stock. I will use the same application, SG stock
alert and set my near term target level and cut loss level. When any of the target level is triggered,
I will look at the chart and decide the appropiate action to sell or to keep.
If you are busy person like me, you may want to try to trade this way, no harm at all. I love the
conveniences and continue to trade profitable even with the phone.
Successful Trading needs to plan, trading is one of the toughest games as it involves the two
weaknesses of mankind, Fear and Greed.
Afterall, trading is just a small part of the game to compound or grow money, the bigger pie will be
investing on rental properties for passive income.
The fun about trading is that we are able to know which industries are performing or underperforming
by analyzing the sector index. By analysis specific Real Estate Index or Construction Index,
we are able to tell if the property sector is undervalued or overvalued.
When the property index is in undersold level, it maybe a good time to find value investing in real
properties. e.g. FT Real Estate Index was at the lowest during 2009 Q1.
If you have bought a property since then, you could be laughing away with the bank today.
Don't give up stock trading, don't despair if trading is not going anywhere. Stay positive, education
is very important.
Below is the application that I use for Stock Alert:
