'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 28, 2011

The market is consolidating tightly...a little bit choppy...let's see if the trade will turn out profitably...
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Moving the stop to 12131 to make a positive outcome in case the trade go south...
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Bought YM at 12130 with stop at 12110...let's see how it goes...
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Not a good sign...trade failed...lost 25 points...will wait for the next location...
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Putting sell limit to 12200...
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Bought YM at 12145 with stop at 12120...
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The market is dropping as shown from this 5-min. chart from the Globex market.

A sign that a profit taking mode as the usual "modus operandi" every Friday.

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