20060428 All in all, 500+ contracts across the 10 SSF series is impressive, given thelimitations of the cumbersome KATS terminal trading. When the technology of BursaTrade becomes available, and the open API and UDS (User Defined Strategies) becomes available, spreads will tighten and activity will pick up. In the future, the SIA and FIA will coalesce, addiding more market participants to the mix.
FKLI Futures Trading - Bursamalaysia
This will chronicle trading in the FKLI & FCPO futures. If you don't like what you see/read in this blog, just surf away. These opinions are our personal opinions and just a record of our thoughts..."In evolution, it’s not the biggest, the fiercest nor the smartest that survive, it’s the one that changes the fastest.” I.e. the key word is to adapt the trading style to the markets, until it stops working
Friday, April 28, 2006
20060428 10:50 am. SSF, single stock futures on 10 stocks started trading today on Bursamalaysia Derivatives. Few things to note:
1 Bid ask is wide on most SSF series
2 Low volume traded
Comment: To be successful, SSF needs to have some market makers willing to make the bid ask, and have the facility to lay off risk in the physical cash market. The wide bid ask is a reflection of the high cost of trading stocks in Malaysia. There needs to be an avenue to lay off risk or arbitrage for it to be worthwhile for market makers or local participant to provide the liquidity. Maybe the Exahange can do like the CBOE, whereby the CBOE market makers (in options) are treated as 'specialists' by the NYSE, so they trade stocks at close to zero costs and at very good margin rates.
Thursday, April 27, 2006
Tuesday, April 25, 2006
Monday, April 24, 2006
Saturday, April 22, 2006
Wednesday, April 19, 2006
20060419 3:30 pm. FKLI at 941.0. The breakout level was actually 935, coinciding with the nice down trend line, however since the gap ut to 936 opening today, had to make the decision to long higher levels like 937.50-38 to take advantage of this upside break. This is the nature of trading, sometimes the hard decisions have to be made.
Monday, April 17, 2006
20060417 9:51 am. FKLI held the band of support ralling slightly to 935.50. This "technical condition" can be instructive: the bearish selling tried to break support with great effort and energy, thus the ensuing small rally. This is an inexact trading method of analysis, but combined with other method of trigger, cold have provided nice trade.
Friday, April 14, 2006
Thursday, April 13, 2006
Wednesday, April 12, 2006
Monday, April 10, 2006
Friday, April 07, 2006
Wednesday, April 05, 2006
"There is the plain fool who does the wrong thing at all times anywhere, but there is the Wall Street fool who thinks he must trade all the time."J Livermore
THE END OF AN ERA
From Dragons and Bulls by Stanley Kroll
Intro and Foreword
The Importance of an Investment Strategy
5 The Art of War, by Sun Tau (circa 506 BC) and The Art of Trading Success (circa AD 1994)
That's the way you want to bet/a>
Long-term v Short term trading
Technicals v Fundamentals
Perception v Reality
Part 1: Winners and Losers
Part 2: Winners and Losers
Sun Tzu: The Art of War
Those who tell don't know, those who know don't tell
Why there is no such thing as a "bad market"
The Secret to Trading Success
The Experts, do they know better?
Risk control and money management
The 'good bets' business by Larry Hite
Don't lose your shirt
Ed Sykota's secret trend trading system