'Trading is a process of observing the market's action until such a time you can find and form trading ideas and get involved.'**

Thursday, October 6, 2011

Made a mistake of bailing out my second trade. A sure 110 points was supposed to be profited. But that's how trading, there's no concrete probability.

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Traded out at 10890...lost 30 points...
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Bought back YM at 10810 ...with stop at 10780...
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Sell stop got hit...lost 30 points...
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Bought YM at 10850 with stop at 10820...
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The market (YM) suddenly drops...let's see what's going to happen next...



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The market (YM Futures) is steadily rising as can be seen from this 5-min. chart.

Feels buying at the pullback after the open for a long trade looks probable.

Let's see how it goes.

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