Thursday, July 21, 2005
4:47 pm - Trade #10 not working out very well !
I wud closed off Trade #10 at the end of the day or first profitable opening on Friday. I have to watch very closely the MACD and 50MA. My stop is at 922 and I wud go long at 923.5/924.
I wud not use a ATR stop here but go out with a small profit.
I wud not use a ATR stop here but go out with a small profit.
10:37 am - Trade #9 was triggered @ 924 during 5 pm selldown.
This morning FKLI gap up - difficult to trade as I am not sure as it can go
either way. However, by 10:30 am, it is obvious that it is profit taking
day. Mkt zoom down to 916. Some one is holding a very big size contract. I
bet this guy is hurting if he bought at 920 and above.
Trade #9 : +3 pts. small profit. If you cannot be happy with small profit,
you can never trade well.
Trade #10 is setting up now. However, the short signal set up is not great. You have the low at 916. Place Trade #10 short at 918. Stop at 922. Unless FKLI break 914 or lower, this trade is not profitable. Beside, I am trading counter trend.
BTW, i am having a fever and told some medication. I need to rest else I wud not trade well.
Rgds,
-Martin Wong-
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