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.

[photopress:simsci_120min_full_day.jpg,full,pp_image]

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.

It is very interesting to see SIMSCI opened low and moved higher in the first 45 minutes. It looks slightly positive. The drop was obviously contributed by reddish overnight DJ. It is an ambiguous situation now. SIMSCI refused to deep further. I would consider a long position or staying aside (no trade). There is a positve movement in SIMSCI, however, under performed HangSeng and Nikkei hold me down from establishing a Long position. I do not like to see -200 point loss in HangSeng and Nikkei yet, I am Long SIMSCI. I would prefer to observe further.

[photopress:simsci_12_min_full_day.jpg,full,pp_image]

Trailing stop was moved to break even point when low of 284.6 is achieved. I was tempted to take profit, however, I decided to have a perfect execution of my plan without any emotional factor. Holding on the position with nearly 0 risk involved. I would admit that, it is tough to resist temptation of profit taking. However, treat this as a challege, to resist temptation is fun. This is part of enjoyment when trading the market. I enjoy the fun of market challege. By 350pm, my position is in-the-money. I have moved my trailing stop to 285.2.

Trade was closed at 355pm with exit at 285 after seeing a positive divergence of RSI in 9-min chart and a trend line break of RSI oversold zone in 12-min chart. Again, I might be missing bigger profit, in fact I was missing out bigger profit in this trade! However, the objective here is to capture the movement caused by market sentiment and profit from it. That is my trading. Gain +0.6. Tiny but sweet.

I have put myself into the challege. I have set a target of 26 points gain in SIMSCI trading at the end of this month. I hope this is not unreasonable. I am not interested in competing, this is the fun of challenging myself.