Mercator Lines - SG Stocks

 Weekly
EMA - heading down
volume is low
MACD heading down and signs of Bear gaining strength
Stochastic heading towards oversold but strength is low and picking up thus showing same sign of Bear gaining strength

Daily
Bullish trendline
EMA heading down
MACD - Bear gaining strength
Stoch - show oversold signal

Decision - No action.
But if it drops below 0.28, I will buy at 0.265 if possible to get the rebound.
resistance is at 0.32

What do you think?

Straits Times 18~22 Jan & possible outlook

Can you endure 3months of losses?
Weekly - sign of recovery (but turns out the rebound came only in March)
Daily - show a different sight - road to recovery

Now - 2 days of DJia of > than 1% of losses
What will STI become?
Things to note - Earning Seasons for US firms

What does Weekly Chart tells me (18~22 Jan)
Weekly STI closes below 8 EMA
Support at 2749, below that if strength persist may touch 2635
Volume is high
MACD turns down but strength is low - a bit of forming
Overbrought Stochastic - turning down
Possible - shorting opportunity

Daily
High volume on 22 Jan, but strength of Bull is weak
MAcD - Strong Bear - but may get weaker due to
SToch - reaching oversold & resistance

Decision
Entry 2791
Tgt 2718 - 32% of FIB
SL 2830
R/R 1.87

$eurjpy 19 Jan 2010

Weekly Chart

• Current price at $129.74
• EMA heading down
  
• MACD histogram showing poor seller strength > possible rebound
  
• stochastic going down > sell signal

Daily Chart

• EMA moving down
• Seller gaining strength > sell signal
  
• Stochastic oversold > possible rebound

Decision
Sell at 129.787
SL at 130.037

Result
stop out at 130.037

Why?

•  Should have set sell limit and not into market order
• instead of selling at 129.787,should have set it to daily high 130.50 to see if hits
• wrong calculation of stop loss limit
• 25pips result in $1100 losses
• 4 contracts
• each pip cost $11
• Reconsider entry point
  

SEURJPY - 18 Jan 2010

 Weekly Chart:

• $eurjpy in range trading > expecting breakout soon as volume getting thinner
• MACD turning down
  
• Stochastic at 41
• 26 EMA - straight line
  

 

Daily Chart

• MACD sloping down
• 13 EMA going down
• Stochastic reach 17, possible oversold as previous was at 16~24 range
• FIb resistance at 131.64

No Action taken

The importance of trading log

It has been a while since I posted any trading log or even financial reviews.

Recently, I have been reading materials from Dr. Alexander Elder. One of the books that gave me a deep impression was Entries & exits: visits to sixteen trading rooms. You cannot imagine how much insights I have gotten from this book. Certainly, the most important learning for me in this book is to keep a trading log. Trading log > it is like a business plan to a successful business man. I was unable to keep regular trading log due to my lack of discipline. If I do not even have the discipline to keep a tradiing log, how I can have the discipline to control my emotions or simply even to stay to to my system. I have also learn the importance of trusting on my system and anyone is possible to be a great trader, as long as he has a great plan he is able to be flexible when the market turns on to him.

It is a new year, I will be going back to demo trades again, until I have the discipline to keeping a detail Trading Long and staying onto my system. I would trade life money again.

---------------------------------------

A bit of review from google book.

Book overview

Come behind closed doors and see real trades made by real trader
Dr. Alexander Elder leads readers into 17 trading rooms where they meet traders who open up their diaries and show you their trades. Some of them manage money, others trade for themselves; some trade for a living, others are still on the semi-professional level. All are totally serious and honest in sharing their trades with those who would like to learn. Readers will meet American and international traders who trade stocks, futures, and options using a variety of methods. All are normally very private, but now, thanks to their relationships with Dr. Elder, readers can see exactly how these traders make their decisions to enter and exit trades. Each chapter of this book illustrates an entry and an exit for two trades, with comments by Dr. Elder. Readers are sure to pick up useful insights, techniques, and methods. With this book as their guide, traders can get closer to mastering the key themes of trading–psychology, tactics, risk control, record keeping, and the decision-making process.