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Gav's trading blog - Perseverance, Consistency, Confidence

SIMSCI

RE: SIMSCI 13-June-2006: Poor performance

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The reversal sign of Nikkei futures before lunch break was a false signal. Nikkei futures has been losing -500 points before SIMSCI reopen for afternoon session. I have place a Short order before lunch break at 272.4. SIMSCI is likely to open with gap in the afternoon session.
After market reopen, my short order was not triggered as the gap is bigger then my setup price. I have been missing profitable trades recently. And my performance has been deteriorating as well. Wrong judgement calls were made. I am fortunate enough, my wrong judgement call did not cause any loss. However, it is equally bad when missing profitable trades. I have decided to step away from market now to prevent myself from chasing a trade. Fight another day.

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

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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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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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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.