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This is 12-min chart for SIMSCI today

From today’s trade, I am convinced to admit that it is still long way to go before I can call myself a good trader. Again, I have made a mistake.

I have mixed up trading time frame. After trade execution , I switch to 9-min chart to observe possible early warning signal. In fact, no positve divergence was observed, but I made a decision of exit when RSI tick out from oversold zone at 14:24pm. That was a wrong decision. Exit decision should be made by looking at longer time frame (12-min in this case). I was afraid of missing profit, in other words, I was hungry of profit. My initial target was 280 (it was hit comfortably after I have closed the trade prematurely), instead I closed the short position at 281. Now , I am watching profit running away from me. That is trading. That is a bad trading.

It has been 3 consecutive day I am performing under average, which is supposed to be 1.3 point per trade. I can do better, but, it can only be done in the next trade. Trade closed with small and bitter gain + 0.7

It sets to be a flat to negative day to me. Nikkei opened flat after overnight negative DJ. I am not optimistic about this opening. It shows to me the weakness of buyers. It is either no buying stay aside or sell. Looking at daily chart of SIMSCI , so far so good, downtrend is still intact. There was not downtrend channel violation at all.

So far, first hour trading sets a negative tone. I am looking for price setup for short selling.

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What a boring day. Again, short stop order was not triggered and SIMSCI indeed made a new day high. I have canceled my order and called it a day. With Nikkei lost about -300 points, it seems to be not enough to pull SIMSCI down. All pattern failed to form sucessfully. There might be opportunity to Long SIMSCI, however, with still negative Nikkei and HangSeng, it is risky to trade against the sentiment today. No trade for today. 0 gain.