14 July 2006
FTSE 100 Futures Day Trading - Maiden Trade on 14 Jul 06
(Today 14 is not a good day, not supposed to start maiden futures trade)
Shorted at 5758 m10 20 40 bearish arrangement
Shorted (Added) at 5752.5 symmetrical triangle breakdown
Short positions closed at 5752, reason: db breakout and m10 20 40 bullish arrangement
Result: small profit after deducting 32 British Pounds of commission for 4 times of trades for 2 contracts
Reflection : Should have covered back at around 5740 based on symmetrical triangle breakdown target. Greed led to late covering of positins until a db formed and breakout.
Comment to trading platform: Chart delays 21 minutes for FTSE 100 (Mini Dow delays 5 minutes only) in most of the maiden trading process, which is not favorable for trading decision. Broker indicates it is doing something on this so that we can get live charts. This is good news for day trader. Until then, m10 20 40 may have no much value. I switched quickly back to m50 100 200, coupled with chart pattern after I realized this point so as to get big better picture on trend of FTSE 100.
Labels: Futures Trading
