Blog and Rants

It does not take a bachelor of science to understand that current market is in very negative sentiment. It looks like more than correction. Though I hesitate to say downtrend is in place. I am waiting for price setup to establish short position of SIMSCI. I am looking at 282.4 as entry level for short […]

[photopress:simsci_fullday_12_min.JPG,full,pp_image] As mentioned in the morning posting, sentiment was negative. The entry came later than expected. After failure swing was observed in RSI, short position was established at 290.6. Position was closed as trailing stop was triggered at 289.4, with 1.2 point gain.

A daily snapshot chart and comment of SIMSCI can be found in Traderswin Futures Trading blog.

I am looking at a weaker session of SIMSCI today. With Nikkei trading flat and negative Hang Seng, sentiment is negatively biased. Price setup is still incomplete at this point of time. 1028am.

I am very interested in following news about Larry williams. I have been learning a lot from his books, and respect him as a excellent trader. Here is news for morning coffee No jogging on Bondi for stockbroker guru

Afternoon session (trade closed) It was pretty fast. Within the first hour of trading, target was hit with 1.7 gain. This is an intraday trading. The trade off is missing bigger profit. This is trading. We focus on our own trading time frame, target, and stop. The chart above is 12-min chart of SIMSCI in […]