Short position of MSCI Taiwan index futures (TIMSCI) was established at 259.1. Initial stop loss 259.6 was triggered with 1-R loss.

“The wrong way to play it would be to attempt to ?pick a bottom,? or fade the market; blindly enter short without waiting for a good spot; getting short without setting a stop, etc. The list of errors goes on and on, but people mainly make those three big mistakes.

Traders who know themselves, who have common sense, who are disciplined, and who have the ability to keep it simple will do just fine. Remember that many people in the market are either uneducated or uninformed. And most of the few who are educated and informed waste their time building ?scenarios? and end up defeating themselves by trying to outsmart the market.”

– Maoxian

First hour trading shows a pretty clear picture for SG futures market. Here is the summary. At this point of time, I would only looking at Short opportunity.

SIMSCI only serves as a reference for the time being. I am not trading SIMSCI for the time being until I see improvement of volume and volatility.

Mini dow was having a negative opening, and subsequently moving laterally. There was opportunity to established short position, however, with tiny profit. The risk of being stopped out was high.

Gold reversed its initial movement after positive opening. Intraday trend turned down. Shorting opportunity apeared.

Looks like we have some action in the futures market today. Here is the summary of current intraday trend during market open.