|
Interview with Felix
(June 19, 2002)
 Me,
Felix and Joey during my birthday party last 2000 Persons
who influenced his way of thinking: All
of the "Market Wizards" In
his way of thinking in trading - Richard Dennis...big picture of market
reality of what is and
is not possible...
In
his being cynical about other traders - Ed Seykota makes us aware of
people by instinct like to deceive themselves
In
his trading methods - Linda Rascke, Marty Schwartz due to their realism He
says, "...sometimes, you see a wrong attitude on traders. That's
because they have a wrong attitude on life. If they can't correct their
own lives, they can't correct their own trading problems." Best
Trades: 1.
Philippine National Bank (PNB) - Accumulated PNB at
mid-P30s during September of 1998. Sold everything in the first quarter
of 1999 between P100 and P150. 2.
Manila Electric Co. "B" shares (MERB) - Accumulated MERB this year at an average price of early P30s. Sold the majority of
the shares above P50. He says, he has yet to buyback these shares again. Worst
Trades: Yahoo,
Inc. (YHOO) - He positioned long in Yahoo. It gapped down 10% the next
day. His
Trading System:
He
is a breakout artist. He looks for trends and those issues which have
volume then he uses filters to remove the noise. He uses some sort of
moving average as a filter.
He
says, "Oscillators should never be used as a signal. It is only
used to know the trend. Signals will always be some price action. The
losses incurred in the whipsaws of using oscillators will never make
up for the missed opportune trades of trending moves..."
He
uses cycles from intra-day, weekly, day of the week, seasonal to months
of the year.
He
takes profit by taking half of the profits on his discretion while the
balance rides the trend.
He
says, "Use monthly, weekly or daily charts even if you are just
a day-trader".
He
uses the same trading system for trading the US and Philippine market
but with a different time-frame. However, he does not trade the
Philippine market much anymore because transactions costs are high.
In
his US trading, he is a day-trader most of the time. He uses the 15-min
chart with his stops pegged at only 1-2%.
Learn
more about Felix |
