20 Apr 2009
Last Week Performance:
First, I close all open trades and that work out to a overall increment of 18.1% in capital, average of 3.6% for 5 trading days.
Key lesson learnt:
During dispersion, do not enter trade as direction is not clear. 1 position was stuck at Wed because it was entered when EMA21 cut EMA55. Instead of a rebound up which could happen it shot through. So the best was to wait for clear indicative direction before enter trade.
Today play:
Trend down, but cautious as CCI may reverse.
I will place a short at 1.48, TP 1.472 and
long at 1.4655, TP 1.472.
If from the 1H chart, EMA200 is to go below EMA200, I will play shorts until EMA21 shows signs of weakening.
First, I close all open trades and that work out to a overall increment of 18.1% in capital, average of 3.6% for 5 trading days.
Key lesson learnt:
During dispersion, do not enter trade as direction is not clear. 1 position was stuck at Wed because it was entered when EMA21 cut EMA55. Instead of a rebound up which could happen it shot through. So the best was to wait for clear indicative direction before enter trade.
Today play:
Trend down, but cautious as CCI may reverse.
I will place a short at 1.48, TP 1.472 and
long at 1.4655, TP 1.472.
If from the 1H chart, EMA200 is to go below EMA200, I will play shorts until EMA21 shows signs of weakening.
posted by Ernest Seng at 12:03 PM
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