Quick update for our positions, especially for Mandarin Oriental and Yanlord.

Mandarin Oriental continues its huge run higher, breaking historical highs.

Yanlord made a fantastic bounce off the level of support which we identified.

This emphasizes the benefit of not being greedy, we got to the level and we take off some profit, no questions asked.

While doing the right thing may not have given us a profitable trade, but it has prevented a large loss.

As long as we keep doing the right things, profits will accumulate!

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STI

Still reacting to the 3200, we are not bouncing very strongly off it.

STI bounced off 3200

Wilmar

Hasn’t triggered us out of the position yet.

Be patient and follow system.

Wilmar has not triggered an exit, but it’s close, so keep a close eye out.

Yanlord

As mentioned in the first post highlighting this Yanlord setup.

Price had a clear path to about $1.50-$1.55 and true enough, price hit a low of 1.54 on Monday.

So I hope you have taken some profit around there, good 7% run.

Since dropping to support, price has made a strong bounce higher.

Not the time to hope for a turnaround, clearly price is not likely to go lower for the moment.

Look to exit this trade.

In my previous post here, I mentioned that Yanlord had a 2nd valid short entry which triggered us in at the $1.645 level

That was a mistake because the TIF criteria was not fulfilled yet. Saw wrongly, it happens.

Profitable mistake. =)

In the correct signal the next day, there were actually no more scripts to short.

Also, be careful with late entries going into levels of interest.

So despite a good move down to the level we identified, taking partial profit, this trade looks like it will be a small loser.

Still it was a good job identifying the short opportunity down to the 1.50-1.55 area!

Stay calm and decide how you want to exit, some options are:

1. Exit immediately at tomorrow’s open
2. Exit when signal triggers exit.
3. Exit when today’s high breaks.

Make a decision and stick to it.

Yanlord made an impulsive move higher.

Sembcorp Ind

Not really moving.

Be patient and follow system.

Sembcorp Ind not moving, be patient and follow system

Mandarin Oriental

Mandarin Oriental is still going.

Consider taking some profit around these $2.70 levels as it’s the historical highs.

Now it’s up over 30% from our entry.

Be patient and follow system.

Mandarin Oriental up over 30% from entry

Trading isn’t about perfectly picking highs and lows.

It’s about systematically following a set of rules which will give you an advantage in the markets.

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The post 20th Sept 2017 STI Market Update: A Reminder In Greed Management. appeared first on The Systematic Trader | Trading Courses | Collin Seow.