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.
[photopress:sti_daily.JPG,full,pp_image]
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.
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.
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, 2006On 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.
I am going to do a quick one.Here is the chart. Straits Time Index (STI) just continues its slow crawling with Fast stochastics in overbought zone. No significant changes, higher high is yet to be formed
[photopress:STI_daily.JPG,full,pp_image]
Here are 30-min charts of Mini Dow and E-mini Nasdaq Futures after market closed. It was a repeat of Wednesday session. Long opportunities were found in both futures. I guess, I might need to consider getting an additional monitor or workstation to view more charts at the same time. It is a little bit tedious to day trade few futures at the same time using a laptop.
Anyway, you can’t win them all.
E-mini Nasdaq
[photopress:Mini_nasdaq_30_min_full_day.JPG,full,pp_image]
Mini Dow Futures
[photopress:Mini_dow_30_min_full_day.JPG,full,pp_image]
It is another good day for bulls. Mini dow had a good run. Long positon was established at 11229 above 1030am candle with initial stop below 11215. Trailing stop was moved four times after position reached 4~R gain. Subsequently, Mini Dow pulled back, and last trailing stop was triggered at 11270 with 3-R gain. I am still feeling I am moving trailing stop too early, however, before I have a complete plan, I will stick with this plan.
