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

by Gav Leave a Comment

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
[photopress:nikkei_morning_12.jpg,full,pp_image]

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
[photopress:simsci_morning_9_entry.jpg,full,pp_image]

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.

Filed Under: Rant Tagged With: SIMSCI

Reader Interactions

Comments

  1. Bryan says

    at 2:14 pm

    Perhaps you can find trading opportunity to long HSI futures.

    Reply
  2. Bryan says

    at 8:14 pm

    Perhaps you can find trading opportunity to long HSI futures.

    Reply
  3. Gav says

    at 5:04 pm

    Hi Bryan,
    Thanks.

    I do notice HSI. I guess same thing happen to hangseng, a gap up after lunch break.
    Anyway, I have long SIMSCI again. Another profitable day for me. Though small profit.

    Have a good weekend.

    Reply
  4. Gav says

    at 11:04 pm

    Hi Bryan,
    Thanks.

    I do notice HSI. I guess same thing happen to hangseng, a gap up after lunch break.
    Anyway, I have long SIMSCI again. Another profitable day for me. Though small profit.

    Have a good weekend.

    Reply

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My Name is Gav.
I am a Father, Husband, Trader, And Blogger. A serious coffee addict. I started training since 2005, mainly on FX and Futures.

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