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Charts: Futures recap 07-August-2006

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As mentioned in my previous posting, if I were to point out the mistake of the day, the it was the miss of entry for Mini Crude. .  Instead, I was looking at Gold, which bulls were too weak to go further.

Let's back to business. Looking back at the 30-min charts, I guess I made a right decision by leaving out Index futures yesterday. The monkey was really jumping around, hurting visitors in the zoo. No good set up for both Mini Dow and Mini Nasdaq for me. 

Mini Crude 30-min chart 

[photopress:Mini_Crude_30_min_full_day.JPG,full,pp_image]

Mini Gold 30-mini chart 

[photopress:mini_gold_30_min_full_day.JPG,full,pp_image]

Mini Dow 30-min chart 

[photopress:Mini_dow_30_min_full_day_1_2.JPG,full,pp_image]

Mini Nasdaq 30-min chart 

[photopress:Mini_Nasdaq_30_min_full_day_1.JPG,full,pp_image]

Dummy day trading #6 07-August-2006: Mini Gold: Long trade closed.

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I decided to look at commodities today, since most likely, stocks market will be waiting for tomorrow's Fed decision with some monkey moves.

I do not know if I am making a mistake on this trade. Long position of Mini Gold was established at 661.7 , which was above 9am inside bar. Stop was moved to break even point after 1-R gain at 663.4. And, it was triggered. Looking at the long tails of candles, it makes me thinking if moving stop after 1-R gain if appropriate for commodities trading. No concrete plan yet, I will still stick to this rule for the time being.

If I were to point out mistake of the day, that should be missing out entry opportunity of Mini Crude oil at 10am.

Here is the 30-min chart of Mini Gold. One trade closed, with no gain.

[photopress:Mini_Gold_30_min_trade_close.JPG,full,pp_image]

SG Market recap 04-August-2006

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After making higher lows, STI (Straits times index) is hovering around resistance area. Short term wise, it is a little positive since short term moving average crosses above long term moving averages. This is accompanied with RSI below 80 and continueing making higher lows. STI is currently right above resistance area 2450.

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August 2006: Week 1 review

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Inspired by Ugly, I am posting this weekly review for the month. This is not to show off how good I am (anyway, I am still too far from it), but it is to show how bad my performance can be if I am trading with lack of discipline/fail to plan whatsoever. Alrite, enough said. Nothing really fantastic for week 1, though I closed it with positive note. I can't complain too much since this is the first week I fully switch to U.S market trading. I used to trade SG futures market, which is a relatively very small market. I am now working on E-minis and Mini Dow.

Here we go.

[photopress:Augustweek1.JPG,full,pp_image]

Dummy day trading #5 04-August-2006: Mini Dow:Long trade closed

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This is a losing trade. After Non Farm payroll report was out, Mini Dow Futures had a nice gap up. Long position was established above next inside bar @ 8:00am chicago time. Initial stop was triggered with 1~R loss.

[photopress:Mini_dow_30_min_full_day_1.JPG,full,pp_image]

The most interesting part of today’s trading is the experience of eCBOT exchange data down.
Here is the notice from eCBOT.

‘CBOT Update Regarding System Issue from Aug 4, 2006
On Friday, August 4, 2006, at 9:30 a.m. Chicago time, the e-cbot trading host moved all products to a closed state due to a software issue. At that time, all day orders in the system were automatically canceled. During the closed state, open auction products remained open. e-cbot markets reopened at 12:00 p.m. Chicago time. For more information please view the e-cbot bulletin 08.04.06’

On the other hand, I was a little lucky since my stop loss order was trriggered earlier as planned. Mini Dow futures reopen with a BIG gap which would be a multiple R loss.