It was an choppy day for DJ. No trade was done yesterday.
SIMSCI and TIMSCI look interesting. Both opened low and starts moving up. Though the regional market sentiment is rather flat at the moment.
I will only look at Long side if I were to establish any position for this morning.
Dummy day trading 26-Jul-2006 II: Mini Dow
‘Crude futures rise after steeper-than-forecast decline in U.S. gasoline inventories’
‘Oil prices rise after gasoline inventory shortfall.’
‘Oil prices rise after gasoline inventory shortfall.’
Are these news related to day trading? Well, it might be. At least , I am seeing intraday Dow futures starts to turn down and in fact broken uptrend line. Though I have yet to have complete setup for the day, I tend to look at Short side.
Dummy day trading 26-Jul-2006
I am looking forward to a ‘do-nothing’ day again for SG futures market. I am not interested in trading in this condition i.e moderate U.S gain, flat opening in Nikkei and low volume in local futures market. It is difficult to find high-R trade in the market with these conditions.
RE: Dummy day trading 25-Jul-2006
No trade was done for SiMSCi and TimSCi today. It was indeed an boring day, though SiMSCi did have a spike at the last 15 min before market closed.
Dow futures was down at the opening, and subsequently spike up. Bulls did not hold the strength, intraday downtrend continues. I am watching for possible short entry for Mini Dow.
Dummy day trading 25-Jul-2006
Good morning! I am a silly person. I like to think too much and make things complicated. My objective today is to keep thing simple.
Alrite, 3-digit gain of DJ pushed gaps up around Asian markets as expected. I am looking at the tone of regional markets. Pretty positive, Nikkei gains near +300 points and HangSeng is fatter by around +200 points. SIMSCI looks interesting today, while I see TIMSCI having some wild swings. Ok, I am looking for Long opportunity of SIMSCI, though I am still waiting for entry point to completely form.
By the way, I rejected few comments by some readers (named annonymous) due to the language (some chinese dialects) used in the comments. Thanks for reading and do give me some comments, of course, in simple english. 🙂
Change
I have made some major changes to my system after studying and reading books and blogs recently. The change was not caused by recent losses, after all, I am still in pretty nice profitable situation. 🙂 The reason behind this change is the seek of simplicity. Yes, I was in fact confused by my own system, and there is really a urgency to keep things simple. The change is done mostly on entry part of the system. I am basically a trend following person and I will still stick with percent risk model for money management part. Instead of looking at shorter timeframe for day trading, I intend to lengthen the time frame to 30-min chart. Most of my entry rules are inspired by Maoxian. I am basically looking at reversal up/down bar or insider bar for entry opportunity. Nothing much in this posting. Hope the simplicity works.
