'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, December 22, 2011

The market did not make any big move today.

A choppy zigzag trading day the way I can describe today's market.

Though there is a nice trade location at 12140-12150 price range, but other than that today's trading is not quite convincing.

Exited the trade at 12105 for a gain of just 27 points...
Stop trailing to 12100...
Putting stop trailing at 12091 to make it safe...
Trade is gaining ground, move the stop to 12085...
Bought YM at 12078 with stop at 12065 for a long trade...
Suddely it drops and hit the stop loss at 12060...20 points loss...