Friday, February 27, 2009

20090227 1711. FKLI futures reaches low of 882.

20090227 1657. FKLI Mar 15 min chart, classic pullback to breakdown and continuation.

UPDATE: The second long was stopped out for -25. The original direction was the correct one! A case of whipsaw today.

20090227 1547. With a 15 min candle against us, we cut the position and turn long at 1.2718.

20090227 1531. We have taken short in eurusd at 1.2708, stop at 1.2744.

20090227 1052. FKLI March broke down through the lower boundary, but this is the 2 min view.

20090227 1009. Settlement day, 15 min March FKLi futures is showing sideways trade, wait for the breakout or test of the boundaries to do something.

Thursday, February 26, 2009

20090226 2007. Eurusd now trades 1.2779. Choppy market in UK session so we closed out the trade at 1.2775.

090226 1704. We cut the cable short at 1.4220 now long eurusd @ 1.2741.

20090226 1704. We cut the cable short at 1.4220 now long eurusd @ 1.2741.

20090226 1537. We shorted cable at 1.4202, when the 15 min candle closed at 1530.

20090226 0922. FKLI Mar 09 15 min chart continues up, since our bullish stance yesterday.

Wednesday, February 25, 2009

20090225 1835. Got home and we find the positions stops are run on the usdchf. GBPUSD we managed to lock in some ticks.

20090225 1612. Today's fx trade was to short usdchf at 1.1592 and long gbpusd at 1.4538. In FX you have to go with the prevailing trend, willing to buy into strength and sell into weakness.

20090225 1245. 15 min FKLI futures chart. 1 and 3 day trends seem to be up, not with a pullback into the zone.....

Tuesday, February 24, 2009

20090224 1942. As the US session gets under way, the trend in the usdchf is in the shorts favour.

Cash KLCI, market forces or manipulation? You can make your mind up. Please don't construe my rants as accusing some of 'creating false impression of market activity'. I am like the auditors, expressing an OPINION on the trading, which can be either true or false. At least it does provide trading opportunity....

20090224 1653. Cash KLCI index value last minute jumps by 4 points to close 894. Same type of manipulative price action as yesterday. Seems the worthwhile trade only comes in after 4:30pm nowadays. But if one looks at the 5 min chart we can enter around 884-885 area. The short on usdchf is working out right now...

20090224 1521. Continuing from the theme of short usdchf, we are short from this morning at 1.1682 level, now hopefully it continues to move.

Monday, February 23, 2009

20090223 2302. eurusd now at 1.2788 and usdchf at 1.1602. We are closing positions and calling it a night.

20090223 2117. We took longs on eurusd around 1.2893 and short usdchf around 1.1652. 4 hour charts indicating the currencies are about to trend, we think and hope.

20090223 2048. We have drawn the 'lines in the sand' of the ww pattern on the eurusd 5 min. When the price hits the bottom extended ww line and bounces, longs will be indicated. A matter of watchnig TV and waiting now

20090223 1715. FKLI futures 5 min provided a sell on the 'manipulation' markdown of the cash KLCI at 4:51 pm. You can see clearly why it would not be a buy on the close below the 3 mov averages. It is blatant manipulation, and the authorities does nothing about it, but what the heck, at least it provides trading opportunity!

20090223 1124. FKLI futures breakout gets to 891.

20090223 1012. This was anice 5 min breakout trade, triggered at 881. eurjpy trend (up) was supportive of long index trade as well.

Saturday, February 21, 2009

20090221 I was asked yesterday what made the bias on the downside, going into yesterday's opening of the FKLI futures. A look at the 4 hour chart tells the story. If the pattern plays out (head and shoulders reversal) there will be a pullback to the neckline then a decline equal to the height of the head, which would be around 865.

Friday, February 20, 2009

20090220 Makes interesting reading this article about whether the weakest stocks should be delisted from being an index component. Maybe bursa should do the same to MISC, which is regularly used to mark index values.

Thursday, February 19, 2009

20090219 1715. 5 min FKLI futures just to complete the picture for today.

20090219 1111. Breakout comes earlier than expected for FKLI futures. 5 min chart with another view...

20090219 1032. 5 min FKLI futures moving into a squeeze, priming for a breakout. Timing could be around our 11:45 am, but we'll see what happens.

Wednesday, February 18, 2009

20090219 2252. eurjpy gets above 120 and the trade is closed out.

20090219 1103. They tried to squeeze the longs but it backfirec, eurjpy rises above 118.

20090219 0905. eurjpy trades 117.85, so the stop can move to breakeven,, waiting game till London opening at 3pm.

UPDATE 2324. We have moved the stop to 116.80 and we'll let the eurjpy long trade run overnight.

20090218 2211. We are long eurjpy from 117.15 on the breakout at 2148. Let's see what happens.

20090218 1159. The wave count on the last ww pattern, but at the 5 point when it gets back above the trendline.

20090218 0928. The WW worked out this time and we are partially to the target, so it is time to scale out of positions in FKLI futures.

20090218 0857. The FKLI futures stance with our friend the ww again.

Tuesday, February 17, 2009

UPDATE 2256. Couldn't get anything going except a couple of whipsaw losses on longs. Gonna call it a night, but cable will probably rally once the pc is turned off.

20090217 1912. We are watching the cable, to jump on the reentry signal, having missed the breakout.

20090217 RHB's announcement of its DMA for both equities and futures, through GL Trade. But the cost, witll definitely be very rich for retail traders.

20090217 1201. FKLI futures failure of the ww led to a nice downtrend, albeit slow as snail.

20090217 0935. WW failed to play out for the FKLI futures...

20090217 0855. FKLI futures Wolffe wave? Time will tell.

Monday, February 16, 2009

20090216 1715. Looking at the structure of the 15 min chart, I would say that the market is consolidating gains and should try for continuation upwards, just my reading...

20090216 1906. Left the office, came home and find the long position in eurusd closed at 1.2785. This type of gap trade is worth the risk, as the market is less likely to run away, if it does, the stop will take care of the downside.

20090216 1508. Eurousd 15 min chart opened with gap down today. We are trying out a long at 1.2750 for the gap filling trade. Let's see how it turns out. Stop is tight at 30 pips.

Friday, February 13, 2009

20090213 2249. It's Friday, and can't get anything going on the eurusd short, time to bail and call it a night.

20090213 At 2042, we were thinking of taking a short on eurusd, but got in late at 1.2852. In the money now after half an hour with stop at breakeven.

220090213 1706. Well, the FKLI futures did punch through 900 and it is now 913! The move actually started just after 1615, which is the way the big dogs operate....

20080213 1502. The 'trend day' continues to develop, FKLI futures now trades high of 898, will it punch through 900 and folow the cash KLCI?

20090213 1121. Seems that FKLI is turning into a 'trend day' . Let's see what happens.

20090213 0924. FKLI futures, a waiting game.... Maybe wait for retest of yesterday's low 880 for the long trade.

Thursday, February 12, 2009

20090212 1631. Cable collapses and we are in the money... Makes up for the dull trade yesterday.

"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