Monday, December 31, 2007

20071231 1715. Happy New Year to all. Last Friday we already alluded to a technical condition in the KLCI cash market. Six straight days of gains and a resistance zone upside near the 1458 region. Having a plan to short the opening of the Dec 07 FKLI futures or just after that would pave the way for a good day trade into the settlement. Only the emotional stock players (who can only bet UP) would chase stocks after six consecutive days of gains... professional traders fade new highs into resistance zones.

Saturday, December 29, 2007

20071228 Cash KLCI daily is within touching distance of the top of the channel, which coincides with the Fib extension target of 1460. KLCI has also had six consecutive days of gains.... we may get some profit taking soon...

Friday, December 28, 2007

20071228 1702. Cash market order flow is an important consideration when trading the FKLI futures. It's an idea to monitor the 5 min KLCI chart, and see how price pans out in relation to the opening price (horizontal line through the first 5 min bar of the afternoon session) At the very least it would keep one from being caught short on the wrong side of order flow.

20071228 1715. FKLI Jan 08 futures and the breakout levels, Long breakout triggered but this one required lots of patience.

Thursday, December 27, 2007

20071227 1237. FKLI futures jan 08 contract on long breakout off the upper level.

20071227 1230. KLCI 5 min charts gives clue to direction of order flow, in the morning trade.

Wednesday, December 26, 2007

20071226 1715. FKLI futures Jan 08 contract. Breakouts fizzle out.

20071226 1533. On Jan 08 FKLI futures contract, levels set up at 1422 and 1426.

Friday, December 21, 2007

20071221 1245. No classic setup, but the FKLI futures has a nice 'trend day' character to the trading today.

Wednesday, December 19, 2007

20071219 1518. Downside break at 1391.5 proves to be more fruitful.

20071219 1245. Upside break was good for a few ticks only for Dec FKLI futures.

20071219 1016. FKLI futures levels set up at 1391.5 and 1395.(chart later)

Wednesday, December 12, 2007

20071212 1437. FKLI longs triggered before lunch session beak at 1422. OK will be off on a break till next week.

20071212 1100. FKLI futures breakout levels.

Tuesday, December 11, 2007

20071211 1715. FKLI futues sells down into the closing, on a wild day. Completes the picture for the day.

20071011 1520. Dead worng on the short, but the reverse trade long compensates for the loss.

20071211 1138. As the FKLI futures settle into the range, a possible setup emerges.

Monday, December 10, 2007

20071210 1510. Meanwhile, we had a classic setup with breakout levels at 1436 and 1440.

20071210 1230. TM (Telekom Malaysia) has run up in the past week. Today there is announcement of special div declaraton. Insider trading? How to gain the confidence of foreign investors into portfolio investment he

Friday, December 07, 2007

20071207 1715. This would have been a good setup, but alas the break came on the fourth bar. Anyway, heard that the SC is considering approval for the bursa dma trading, timeframe 1 week. By that time is almost Christmas!

Thursday, December 06, 2007

20071206 1715. The gap up after the lunch session break invalidated the setup.

20071206 1245. if the first 15 min bar after the lunch session is within the breakout levels, then the setup is ready to go.

Wednesday, December 05, 2007

20071205 1715. FKLI futures rally turns out to be a corker.

20071205 1520. At 1245, there was no classic setup. However the symmetrical triangle setup turned out good.

Tuesday, December 04, 2007

20071204 Got this communicaiton from Bursamalaysia today (unofficial)

The DMA Gateways (TransactTools and GL Trade) are not accessible via internet. Correct. Your clients can use TNS, BT Radianz, GL Net, N2N network, etc

The DMA Gateway TT is opened for testing. Some clients have started to test, but they are not ready yet for "go live".
Anyway, we are waiting for the green light from SC.

So, it seems DMA might be a reality soon. SC, get your act together for approval; remember Bursa is in the MSC, what good is the MSC image without direct access internet trading?

Monday, December 03, 2007

20071203 1715. FKLI futures formed breakout levels in the morning, but today turned out to be a whipsaw day with false breaks.

Saturday, December 01, 2007

20071201 It is 1 Dec 2007 now and we are yet to see the DMA launch from Bursamalaysia, although the details (article) have been revealed by BM. Let's hope we can see the big bang hit the market soon with online direct access trading on Bursatrade.

"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 Manchester City FCl Crude Palm Oil


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
Good advice
The 'good bets' business by Larry Hite
Don't lose your shirt
Ed Sykota's secret trend trading system