Wednesday, September 1, 2010

2010-09-01 +10 pips

1: daily is flat 3hourly flat turning up hourly up 15minute up 5 up
2: News to come is:7:00 ISM
3: What's the main event just happened that move the market? and is it trendy? China and AUD have good data including CHina's PMI and AUD GDP 1.2, which support ES as well, it's up 15 now. We see seller at 1.2850, currently trade at 1.2835.

4: What do you think the market will do today? moving up, see if 1.2850 break, early we tested 1.2856.

5: Were you right about the market? (After the trading session)

6: What's the trade? Is it related to the previous loser or winner?
buy the dip
Do you take half at 1R?
How many pips it risk?20

what's the daily limit and daily risk now? 60/20/3

I did buy the dip, but seems 1.2850 is the cap for now. Even ISM news cannot take it out, plus the news reaction is USD bullish somehow... I close all mine.





BTW: I was stupid enough to hold a pretty large position of SDS during the news, I was with little profit before the news, now deep in the water, anyway, my average price is 34$ and my stop is 33$, currently is trading at 33.65$

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