TraderGav.com

Gav's trading blog - Perseverance, Consistency, Confidence

Blog and Rants

SIMSCI 13-Jul-2006: Potential swing up

by Leave a Comment

To be frank, I am pretty happy with the 3-digit loss/gain in DJ. These conditions provide force to move SG market. I hope to see an trending day for SIMSCI today, either up or down.
SIMSCI had a gap down at the opening, There is an possibility of upward swing, though it is still too early to define. After first hour of SG market , both Nikkei and HangSeng futures turn into positive territory despite negative opening. I am watching closely on SIMSCI futures.

With reviewing my past day trading performance, better performance was found when SIMSCI was experiencing better volume (i.e trading around 2,000 contracts in the first hour) or with day volume near 5,000 contracts traded. The worst performance (excluding my psychological weakness of making unnnecessary trades), was during low volume period of SIMSCI.

Of course, I am not tying my performance to volume, I truely acknowledge my psychological weakness., I am doing statistical work to find any possiblity to improve my trading performance.

RE: SIMSCI 12-JUL-2006: No trade

by Leave a Comment

[photopress:siMSCI_10_min_full_day.jpg,full,pp_image]
The result of guarding the quality of my trading, no trade was made today. It was a choppy day with low volume, I would say. Day volume is just more than 3000 contracts. There were selling at the end of morning session , however, sellers strength were weak. In the afternoon session, though SIMSCI futures started rebounding, a possible entry was at 289.1.
I saw few levels of resistance. None of my setup was completed. No trade was done.

SIMSCI 12-JUL-2006

by Leave a Comment

Shrugging off yesterday’s losing trades, I am back to business. DJ had an interesting session yesterday, It was a selling in the first half and turned into buying mood at the end. DJ was up around +31 points. SIMSCI opened with a small gap and intraday trying to form an uptrend, it is yet to be confirmed. I am waiting for setup to complete before considering any position. My concern is Nikkei futures. It opened higher and drifting down. Intraday down trend is formed. Not so healthy sentiment. It might be another choppy day.
Today’s objective, again, trade with quality, not so much about quantity.

SIMSCI Trade recap 11-JUL-2006

by Leave a Comment

[photopress:SIMSCI_10min_review.JPG,full,pp_image]
After reading the chart retrospectively, mistakes were found. Mistakes were found in the second trade. While for first trade, false breakout is expected portion of breakout trading.

In the second trade, stop loss calculation was wrong, instead of 289.5, correct stop loss level should be at 289.7, if short entry was at 288.9. This is merely a chart reading mistake.

Another mistake was found at entry level. Since day low/high serves as support/resistance level most of time, short position should be place below day low which was 288.7, instead of 288.9. I was too eager to establish short position.

RE: SIMSCI 11-JUL-2006: 2nd trade: Short trade closed

by Leave a Comment

[photopress:SIMSCI_afternoon_second_trade.JPG,full,pp_image]
It is indeed not so good day to me. I have two losing trades today. Second trade was a SHORT on SIMSCI at 288.9. After the spike of afternoon session opening, SIMSCI looked weak.

Trailing stop was moved to 289.5 and triggered. Instead, a ‘W’ bottom is in the making and RSI starts making higher lows and MACD moving above trigger line.

Second trade closed with -0.6 point loss.

Trade summary:
Direction: Short
Entry: 288.9
Exit: 289.5
P/L: -0.6 points.

That’s all for the day. No trade will be made to avoid any potential emotional trading.

RE: SIMSCI 11-JUL-2006: Long position: Trade closed

by Leave a Comment

[photopress:SIMsCI_10_morning.JPG,full,pp_image]
It was a disappointed trade. Nikkei failed to push up further, instead, it formed a lower high, which does not look good to me. I have exited Long position of SIMSCI at 289.7. Initial stop loss was at 289.3.
One trade closed: -0.2 loss

Trade summary:
Direction: Long
Entry: 289.9
Exit: 289.7
P/L: -0.2