Archive for the Trading Category
With the stock markets looking weak, Oil is said to follow. I had entered a short on a previous day low and also under the round number at 9100. My order was 9090 and it got hit. However, soon after this the market went up and it wasn't even certain as to whether this trade would go the right way. With breakout trades, I should have perhaps saw that this wasn't going anywhere and closed out before my stop was hit. However, the market moved 20 points above my stop before it did stop and reversed
August 4, 2011
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The below is the daily chart of the DOW and that it had made a double top formation a few days back. Following this, the market started going lower and yesterday I was looking for a break at the previous low as indicated. This happened and I had a short at 12460
The market fell and was looking to fall soon but after a major break, I was expected a retracement to happen far later than it did and I ended closing on the retracement for 40 points only for the market to fall further in the US
July 28, 2011
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I had spotted that the Dow Jones had made a double top and I shorted it as it retraced and headed downwards at 12720. At this time I was thinking that this could be a nice longer term trade as I anticipated seeing the Dow decline over the coming weeks and possibly months.
I knew that there was support at the 12650 level and if it were a daytrade, this would have been a good place to take profits and take 70 points.. not a bad days work. However, when it bounced, and started to eat into my pro
July 22, 2011
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