28th September 06 - Discover Your Strengths

Not long ago, through a friend's kind recommendation, I got to read "Now Discover Your Strengths" by Marcus Buckingham & Donald O. Clifton. The book puts across a simple idea:Focus on building on your natural strengths rather than salvaging your weakness.

For trading, like other aspects of life, there are certain areas which we are naturally good in and it's often like a breeze when handling them. For myself, I realised that I am quite proficient in certain areas like:

1) Through trade planning before entry
2) Decisive in entry
3) Decisive in getting out of a trade when in 'hope mode'

It's important to know what your strengths are so as to focus your efforts in the correct areas. I am very interested to know your strengths too.

Hope to see your list of strengths in the comments page (see below).

26th September 06 - Interesting stuff of Hang Seng

Went Hongkong over the weekend for a family trip and also to visit my beloved girlfriend.

Although it's supposed to be a break for me off the markets, I still can't contain my ever-present curiousity of the financial markets. I was thinking, since I am in HK, turf of the Hang Seng futures which I trade everyday, how about I learn abit more about it.

And so, I bought a copy of the local business times. Compared to the Singapore papers, I think that HK newspapers are alot more 'vibrant', packed with tons of analysts pitching about their recommendations. What makes it really stands out is that even technical indicators (not only one but quite a few) are even thrown in to complete their analysis. Pretty interesting, ya?

As you can see above, sometimes they even reveal the support level. For this particular case, it's 17,171 for the Hang Seng futures. I wonder what will happen if that level is breached? 17,171 is quite a 'nice' number, don't you think so?

11th Sept 06 - S&P E-mini SELL 1307.25

Another SELL Call generated by the system on 11th Sept for S&P E-mini:
SELL Entry: 1,307.25
Target: 1,302.25
Stop: 1,312.25

Result of the trade is a breakeven at 1,307.00.

8th Sept 06 - S&P E-mini BUY 1309.75

Hasn't been updating for awhile due to work commitments.

On the top is a BUY Call generated by the system on 8th Sept for S&P E-mini:
BUY Entry: 1309.75
Target: 1314.75
Stop: 1304.75

Result of trade is a breakeven on 11th Sept at 1310.00.

6th Sept 06 - The S&P Trade Gives Again

Quite an eventful Wednesday for the S&P system with some pickings:
1) Shorted the S&P big contract @ 1313.40 (around noon time) and covered @ 1312.10 (around 4pm++)
2) A recommendation to short e-minis @ 1312.50 or better (released at 1840hrs) with profit @ 1307.50.

A pity I didn't get filled for the 2nd call as the market continues to sell-off strongly in the European session. However, some of my friends shorted near 1311.00 region and profited. Good job there man :) One of them even shorted the e-Russell and made quite a handsome amount ... slurp slurp

An interesting thing I noticed this time round is that the profit is given in the European session rather than the usual US session. One of the fastest trade thus far.

Let's look out for the next S&P trade ...

5th Sept 06 - A Picture Perfect Short

Today, I shorted the Hang Seng @ 17,428, which I believed should be a picture-perfect trade.

Profit target: 17,220 (208pts reward)
Stop-loss: 17,531 (103pts loss)
Risk/reward ratio: 1 to 2

Reasons for trade
1) K2P sell call enhanced by my RS+1 pattern
2) Created a new 52-week high but closed lower on 4th Sept
3) Today broke 4th Sept's day low with strong momentum
4) Lots of commited sellers detected across various levels in today's session
5) Well-balanced risk-reward ratio

I believe this trade should turn out well :)

PS: For Trading Mastermind Programme people, pls look out for potential KOSPI trade tomorrow