15 July 2006
Mini Dow 2nd Contract (14 Jul 06)
See earlier posting for Chart.
Despite all the loss making trades earlier, I was still looking for a profitable trade. Surprise to me, it turned out to be a heavier loss making trade this time.
Shorted at 10782, reason: a small dt (nl 10780) breakdown under m50100200 bearish arrangement which proved to be a false breakdown later.
Covered at 10812 using market order, losing 30 points, the reason is that Mini Dow rose in form of 5 impusive waves and I became panic and used a market order to cover back shorted position. Luckily, I only shorted 1 contract!
Overall, I paid learning fees of S$339 including trading loss of US$60 and commissions for 8 trades of FTSE 100 (8 British pounds per trade) and 4 trades of Mini Dow (US$8 per trade), and delayed a few hours of my sleeping time. Believe the initial market testing is enough for me. From now on, I'll put on some profitable trades based on my knowledge and skills in the market for more than ten years, hopefully!
See earlier posting for Chart.
Despite all the loss making trades earlier, I was still looking for a profitable trade. Surprise to me, it turned out to be a heavier loss making trade this time.
Shorted at 10782, reason: a small dt (nl 10780) breakdown under m50100200 bearish arrangement which proved to be a false breakdown later.
Covered at 10812 using market order, losing 30 points, the reason is that Mini Dow rose in form of 5 impusive waves and I became panic and used a market order to cover back shorted position. Luckily, I only shorted 1 contract!
Overall, I paid learning fees of S$339 including trading loss of US$60 and commissions for 8 trades of FTSE 100 (8 British pounds per trade) and 4 trades of Mini Dow (US$8 per trade), and delayed a few hours of my sleeping time. Believe the initial market testing is enough for me. From now on, I'll put on some profitable trades based on my knowledge and skills in the market for more than ten years, hopefully!
Happy trading, TopTrader!
Labels: Futures Trading
Comments:
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What can I say? Welcome to the world of day trading futures!
btw, you are new to day trading futures, aren't you?
All the best and good luck!
btw, you are new to day trading futures, aren't you?
All the best and good luck!
Gav,
Thanks. Yes, I'm a newcomer on day trading of index futures.
Remember, my broker was introduced by you a few weeks ago?
The charts are not live, I encountered some difficuty in making timely decisions.
All the best and good luck!
TopTrader
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Thanks. Yes, I'm a newcomer on day trading of index futures.
Remember, my broker was introduced by you a few weeks ago?
The charts are not live, I encountered some difficuty in making timely decisions.
All the best and good luck!
TopTrader
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