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Rant

RE: SIMSCI 13-June-2006: Short trade closed

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[photopress:simsci_12_exit.jpg,full,pp_image]

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.

RE: SIMSCI 12-June-2006: No Trade

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[photopress:simsci_full_day_9.jpg,full,pp_image]
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.

SIMSCI 12-June-2006: Awaiting setup

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Sentiment for the first hour of trading is rather flat. There is no clear direction for the day. Nikkei and HangSeng are flat at the moment of writing this posting. From the development of chart now, there might be a chance of Long for intraday trading, though more information is needed to confirm this setup.

SIMSCI 09-June-2006: Second trade: Long: Trade closed

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[photopress:simsci_full_day_1_2.jpg,full,pp_image]
I am twisting my mind again. After closing a lossing short position, I established a long position at 277.3.
I did not expect this as a strong run, my profit taking order was set at 278.2 which was triggered around 230pm. with strong presentation in 9-min chart, most likely I am missing out some bigger profit again. However, I did have some worries when looking at the spread of SIMSCI futures, it got a little bit wild sometimes with 3 ticks different, intraday volatility is strong. My initial profit taking target was day high 278.7 (which was hit after I closed my trade at 278.2).
Second trade of the day with +0.9 gain. I closed the day and the week with positive note.
I am facing a problem with profit target calculation. More works need to be done.

RE: SIMSCI 09-June-2006:Potential short: Lost trade

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SIMSCI futures
[photopress:simsci_morning_9.jpg,full,pp_image]

Before SG market went for lunch break, I have decided to close my SIMSCI short position with a loss at 275.7 even though planned trailing stop was at 276.2. There were signals that contributed to this exit decision. From 9-min chart of SIMSCI, a positive divergence was observed, and it was , in fact, getting stronger. I was very uncomfortable to see positive divergence when having a open short position.

Nikkei225 Futures
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Another strong reason to exit short position was from Nikkei225 Futures. Again, a positive divergence was observed. That was a scary scene. It was preparing to run up. In the event that intraday upward movement started, SIMSCI futures is likely to have a gap up in the afternoon session.

I might be missing out potential profit, but, safety in the market is my objective. Fast decision made. One lost trade with -0.6 loss.

After trade analysis:

SIMSCI Futures
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In fact, my short position was not supposed to be established. This can be proven when doing analysis retrospectively. Before Short position was established, from 9 min chart, a positive divergence was formed. This is a sign of strength, and no short position should be established.