November 14, 2014 – Passive Income is Best Holding Winners and Doing Nothing

Did nothing except held what I’ve already had.

#RRHI proved a winner, and I had to do nothing but hold.  Currently hit 70.  Maybe traders will partly trade by selling a portion but I’d just keep my holdings and do nothing.

#PLC went 2.15 and then consolidated to 2.08 – doing nothing and letting the stock run and just trail is the best on these kinds of stocks

Congrats to #IRC – no position here but again, when you’re holding a winner, you do nothing but ride.

#BDO – Again just by doing nothing, the stock will just keep running to new highs so 105.70 intraday and maybe next week 107? 103?  Does it matter?  It’s still gonna go new highs or be bought near pullbacks since 99 is the recent high which is also gonna be the recent short term low (role of reversals)

#EDC went new highs last week and held at 8.  Any pullback will be bought by those who don’t have and again, do nothing.

#PGOLD is bottoming out and trying to carve a higher low (will wait where it settles but again, trail stops since most likely this is a slow uptrend reversal towards 40)

#SSI climbs back above 8.12 – do nothing – just ride

#HOUSE higher low setup, still above 7.50 but below 8 – still in a range but crosses help so do nothing or buy near 7.50, sell near 8 if you want to complicate your lives.

#COSCO- neither here, neither there – do nothing – did my due diligence already so do nothing.

#LR and #LRW – just doing nothing – let the stock go up, consolidate – just holding the winners

*********
Placements, crosses, buy backs et al-
#cmt 1.72 held and now 1.95
#emp at 11 didn’t do much but neither here nor there at 10.68
#sph gets more crosses 2.25 where buy backs ensued then 2.40

Is sitting tight hard?  Hardly, sitting tight is just closing screens and playing games all day.

I have cash. – waiting for opportunistic setups for some stocks to give back some of their gains – but if they don’t wanna pullback, not my problem either.

I played Restaurant City 2 the entire day. Cool game, keeps me up all night and all day.  Or maybe that’s just me being happy cooking Chicken Alfredo (virtually) Portfolio with winners will just win by just doing nothing.

– Faceless Trader

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3 Responses to November 14, 2014 – Passive Income is Best Holding Winners and Doing Nothing

  1. hcb says:

    Hi, Im interested in becoming a proprietary trader like you. I want to make a career shift from being an internal auditor to become a proprietary trader. Can you please tell me what do you think are the qualifications they will look for when I apply as proprietary trader?? and what companies can you recommend for me to apply?? Im male, 25 years old, BS accountancy graduate from UST, CPA, 3 years working experience as internal auditor. Thank you very much.

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    • I think you can try to

      1.) Go to Caylum Trading Institute (COL Financial uses the people who studies with them and hires some students to be proprietary traders)

      2.) You may apply as a broker for any brokerage firm. I hear BH Chua Securities is looking for people – you can try to apply either as a broker or analyst. Maybe they can give you options.

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