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RE: SIMSCI 22-June-2006: Long Trade Closed

by Gav Leave a Comment

[photopress:simsci_10_trade_close.jpg,full,pp_image]
Long position of SIMSCI was closed at 282.4. Volume did not support buyers to push up further, and RSI was forming failure swing. A descending triangle was forming as well. I do not like the situation like this. Closed the trade with small gain. +0.4 point.

I was very unhappy with the liquidity of SIMSCI. Sometimes it does give me the feeling of ‘Why on the earth I am wasting my time trading this dummy index futures?’. Look at the daily volume, it is hardly cross 5000 contracts.

I do see opportunity in SIMSCI futures trading, however, given the lack of liquidity, I am considering switching to some other better choice.

This is 10-min chart of SIMSCI as at 3.30pm.

Filed Under: Rant Tagged With: SIMSCI

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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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