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

Friday, October 7, 2011

Stop triggered instantly (very volatile) for a naught (zilch) trade...
Move stop to break even...will let the trade till the close and let's see...
This time let's buy it at the bottom...bought YM at 11075 with stop at 11020...
The "failed" trade was not on the right timing, especially today it's Friday -  profit taking day.

All traders close their position.

But there is a tendency the market might move up later in the trading day.

Let's just see and watch.



Was early to put on a position to trade, failed to get a confirmation from 1-hr. chart and that is the big mistake.

Traded out for a loss...45 points loss...not a good location to put a trade...
Looking for 11200 move to trade out...
Stop too close...move to 11100...