I just can’t trust the stop order any more. This is the third time my order did not get executed and price moves away from my entry. An ascending triangle was formed this morning around 11am. I have set up a buy order at 289.5. Excellent, market moves up and hit a high of 290.3. And my order was not filled at all. I do not want to chase a trade, I cancel the order and leave the market. That was supposed to be a quick pattern trade. And I just missed the profit in this way.

I am watching for second entry opportunity. Of course, this time, only limit order, no more stop order.

Hear is the headline today:

“NORTH Korea’s launch of half a dozen missiles yesterday, including a long-range one said to be capable of reaching the United States, renewed security concerns across the region and beyond and raised jitters on financial markets.”

DJ closed with -76 loss. We have a gap down in SIMSCI, but it is moving up after that. Direction for today is still unclear.
I am watching for trading opportunity now.

[photopress:SIMSCI_10_position_closed.jpg,full,pp_image]

Rooney said ‘All I need is a goal’, he failed to get one. To me, ‘I need a good trade’. I got it. I am back to business today.

Short postion was established at 292. It missed my entry 292.3 though. Initial target is set at 290.7 which appears be a intraday support level. I have two initial stop loss levels at 293 and 292.2 to protect capital. Target was achieved perfectly. In fact, selling was so fierce that out of my expectation. It hits a low of 289.3. If I caught the bigger profit, that will be a bonus, otherwise, reaching my planned target is good enough for day trading.

One trade closed with +1.3 gain. Not so big, but good execution.

Chart will be posted after market closed.