EITA Resource Bhd: New high is on the way of making !!!

Executive Summary 

Double bottom formed and immediate bottom was found at $1.10 in weekly chart, three white solders break neckline at $1.35 on this week and heading to test $1.55, break away from it will form wave 3 which is most strongest and longest uptrend wave in Elliot wave Theory. I am anticipate likely it will test $1.65/$1.74/$2.00/$2.35.

My Trading plan

I am trade and also invest in this stock.
My stop loss for trading position is is <$1.35
My stop loss for  investment position is <1.10.
I will lock profit and apply trailing stop along the $1.65/$1.74/$2.00/$2.35.

KLSE Technical Analysis Stock Forum

I has launched KLSE Technical Analysis on Telegram Channel as an avenue to disseminate stock & financial markets news; Technical analysis and give members real time update on my trade plan. KLSE Technical Analysis on Telegram Channel will also ease my burden from multiple postings to numerous chatting groups on Telegram, All the groups will remain & continue to be chatting groups as they are now.
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Trading Challenge

Many people committed to buy stock is very easy, when come to profit taking and cut loss is one of the most difficult part in trading world, talking about profit taking is dealing with greed and stop loss is dealing with fear, cutting loss is a must in trading world because it stopping my capital continue to loss, in order to stay alive in trading world... it is a must !!! it is not an option, else I suggest you get out of the trading and you are not suitable.

I wanted to used simple example to share on the cut loss ... you bought an egg and prepare to  used it for fry rice, some how you notice/suspect the eggs you pick was/may turn bad.... the question now is shall out throw/scrap the bad one and pick another .... or nevermind bet or hope the suspicious "bad" egg will be good and risk the good rice which is ready to cook ? you make the call... I am believed in order to win I got to know how to prevent I am loss in the market... if I notice I am wrong... I got to admit and cut the loss and make a next move.

As a reminder for myself

I am always remind myself If the trend is go again me and violated my SL limit, I will cut loss base on the risk preference.

Stop Loss is painful process because I making loss, but it is necessary to take it, it is very important because it protect my capital to ensure I am stay in the market.

DISCLAIMER:

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