I was looking at 274.1 to Long SIMSCI (before my trading platform is down for maintainance for half an hour). Nikkei starts second session with slightly positive tone. I see the intraday market is to be flat with positive biased. As at current condition, I am looking at LONG side.
SIMSCI 14-June-2006
Again , yes again , DJ closed in negative territory. Nikkei and SIMSCI followed as expected. However, it is very interesting to see Nikkei and SIMSCI indeed moving up from low opening. Intraday chart shows me a uptrend is building up for SIIMSCI, though it is too early to conclude now. It gives a feeling that these two asian markets are trying to shrug off the dirt caused by American counterpart.
I am watching closely for possible trade setup.
RE: SIMSCI 13-June-2006: Poor performance
The reversal sign of Nikkei futures before lunch break was a false signal. Nikkei futures has been losing -500 points before SIMSCI reopen for afternoon session. I have place a Short order before lunch break at 272.4. SIMSCI is likely to open with gap in the afternoon session.
After market reopen, my short order was not triggered as the gap is bigger then my setup price. I have been missing profitable trades recently. And my performance has been deteriorating as well. Wrong judgement calls were made. I am fortunate enough, my wrong judgement call did not cause any loss. However, it is equally bad when missing profitable trades. I have decided to step away from market now to prevent myself from chasing a trade. Fight another day.
RE: SIMSCI 13-June-2006: Short trade closed
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I have closed my short position at break even point 273.1, SIMSCI failed to break 272.5 even though Nikkei was losing -300 points. After seeing Nikkei gained strength from -300 point loss, I have decided to exit before lunch break to prevent any gap up in the afternoon session. Gain +0.1
This decision might be wrong and miss out potential profit, however, safety is the priority. I am looking for another opportunity in the afternoon session.
SIMSCI 13-June-2006: Short trade
It was negative, first started from Japan, then HongKong. I am looking at short. In fact, short position has been established at 273.2.
RE: SIMSCI 12-June-2006: No Trade
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It might be God’s call. My broker’s online trading platform is having some hiccup today. I do not like to trade when trading platform is unstable. This is unnecessary risk. Secondly, all patterns failed to form successfully and Nikkei and HangSeng remained flat most of time. Opportunity was found when RSI moving in overbought zone. I have given up the opportunity to establish Long position. I would call it a day. A boring day. No trade.
