A bullish technical analyst I stumbled in one FB trading group in 2015 turned recently into a bear. Perhaps, his experience of COVID-19 and the lockdown caused him to change his mind. As I evaluate his chart, I also looked back to the chart I made in December 2016. I overlooked the number of waves in ABC pattern resulting to a wrong counting. My only hesitation in joining him in his bearish outlook is the massive liquidity injected by governments worldwide into the financial market.
I started trading in the Philippine stock market in 2015. After a year, I lost 49% of my capital. Beginning 2016, the bleeding stopped but I could not monitor my progress for I failed to keep a record of my monthly activity. In 2019, I started to record my trades. After a year, I gain 31.93%. 2020, the year of the pandemic, the lockdown and the power freaks and despite the financial struggle of most Filipinos, the Lord has been so generous to me by giving me a 61.89% year to date gain. I assume that many traders out there especially those who stick with $DITO, have gained bigger % than this.
