'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

Moving the stop to 12150...doesn't look good...
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Moving sell limit to 12195...price action is on the climax...
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Remember this quote fellow traders..."I made my money by watching and sitting tight"- Jesse Livermore, and  "I made my money by selling too early" - Bernard Baruch... so be patient while trading fellas...
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There is a tendency the market, YM, will reach 12200...current price action is quite sustainable on the long side...let's see if turns out right...
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Putting sell limit at 12185...
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The market, YM, starts to climb up the ladder...moving the stop to 12140...
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The market is consolidating tightly...a little bit choppy...let's see if the trade will turn out profitably...
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