TraderGav.com

Gav's trading blog - Perseverance, Consistency, Confidence

Archives for June 2006

RE: SIMSCI 26-June-2006

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[photopress:simsci_full_10.jpg,full,pp_image]

I have made a mistake today. Partly due to physical tiredness. I saw opportunity to Long SIMSCI at 280, (in fact, 279.9, if I was sharp enough). I was hesitating for nothing. It was not fear, but, my mind was stalled at that moment. All setup was done, and yet no action. Mistake is a mistake, I can’t argue with market, nor would I chase the trade.
From 10-min chart, RSI started trend up before lunch break, and entry line was found at 279.5, with maximum chasing level at 280. This was supposed to be a small quick trade.
This is 10-min chart of SIMSCI Futures

Opportunist series: Stocks for 24-June-2006 onwards

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Here I see some interesting stocks which appear to rebound. Though market sentiment remains negative, these stocks provide some quick short term trading opportunities.
I saw tiong woon, C&O pharm, SKY china petrol, and InterraRes.

I was preparing Monday’s stockst trading, when I was almost finishing, a sudden thought came into my mind. All the potential candidates I saw are trading under long term moving averages. In which, it is telling me uptrend is not resumed just yet. Why do I even think of buying them? My profitable stocks trades before the corrections were all riding uptrend, because I knew the success rate is high when riding a established trend. And now, I am contradicting myself, just because of the unknown agenda to trade in my mind, and the hungry of profit.

I closed my documents. I ignored all my preparations. No stocks trading for now, I was just wasting my time.

RE: SIMSCI 23-June-2006

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[photopress:Simsci_morning_10.jpg,full,pp_image]
[photopress:Nikkei_morning_10.jpg,full,pp_image]
I have decided not to trade today due to some personal commitment in the afternoon session. No short position for SIMSCI was established in ther morning after watching Nikkei making a higher low and failed to form a failure swing in RSI. It is likely to move up and might lead SIMSCI to bounce as well in the afternoon session. In addition, a potential double bottom formation was found in SIMSCI chart as well.

Some charting problems in the early of the week, not a good week with only small gain. I close the week earlier with positive note.

SIMSCI 23-June-2006: Potential short

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In the first hour of trading, downtrend is formed. With Nikkei loses around -200 points and HangSeng loses around -150 point, sentiment is negative biased. I am looking for opportunity to establish Short position on SIMSCI.