dozu, I live in Victoria, BC. I mainly trade the morning session. If HSI moves big in the morning session, I may trade afternoon session as well.
I was using just IB and their data feed. And to trade SGXNK and HSI fading the gap was good strategy. But as you know being as human, I made a big mistake in holding over nite good size of position and turned my profitable position into losing one due to greed. But I will come back very soon.
Just like in the game, if you do not show discipline and keep breaking the rules of the game, they will finally show you a card and kick you out. So it is same in this game. Finally they liquidated my overnite postion and put me out of the game.
just a quick observation.... I actually think the PM version is worth sticking around for if the AM session consolidates.. (I live on the east coast, so I don't touch the PM session anyway). It appears to me that if the AM makes a big move, it usually just fool around in the PM.
Thanks for your comments about the PM session, dozu888. HSI gapped down about 400 points, less than what I thought. I entered long three times and exited with a little profit in the first half hour. After its first half hour strength, HSI became weak. I entered short and exited ten minutes later with 100 points gain. Then I placed my last short trade. That was a really bad trade. Trades: 2008-01-09 09:45:40: B (1) at 26758.0, 2008-01-09 09:56:12: S (1) at 26792.0, P/L = 32.8 2008-01-09 10:00:07: B (1) at 26815.0, 2008-01-09 10:05:46: S (1) at 26880.0, P/L = 63.8 2008-01-09 10:14:44: B (1) at 26873.0, 2008-01-09 10:15:13: S (1) at 26855.0, P/L = -19.2 2008-01-09 10:19:23: S (1) at 26994.0, 2008-01-09 10:31:58: B (1) at 26892.0, P/L = 100.8 2008-01-09 12:08:19: S (1) at 27117.0, 2008-01-09 12:20:05: B (1) at 27233.0, P/L = -117.2 I made a couple of typical mistakes during the last trade. a. I traded what I thought rather than what I saw, b. I should cut my loss quick, instead of hoping that market gave a favor. Actually the price did retrace back to my entering point and gave me a good chance to get out, but I didn't. My emotion (greed and fear) were out of my control. Too bad, I didn't learn my lesson. Total P/L = 61.0, P/L Per Trade = 12.2, Total Commission = 6.0
Hi, Iceburrg It could be much worse. HSI went up another 400 points in yesterday's PM session. Today' HSI open and price movement were totally out of my guess. I bought four times and didn't feel good. The price action confused me. I called for a stop today. Trades: 2008-01-10 09:53:26: B (1) at 27420.0, 2008-01-10 10:00:09: S (1) at 27528.0, P/L = 106.8 2008-01-10 11:11:02: B (1) at 27478.0, 2008-01-10 11:15:14: S (1) at 27412.0, P/L = -67.2 2008-01-10 11:17:21: B (1) at 27413.0, 2008-01-10 11:33:36: S (1) at 27461.0, P/L = 46.8 2008-01-10 11:42:26: B (1) at 27406.0, 2008-01-10 11:44:10: S (1) at 27426.0, P/L = 18.8 Total P/L = 105.2, P/L Per Trade = 26.3, Total Commission = 4.8
That's still a decent performance. I made many mechanical mistakes today. I did not realized I was on sim until half way through. I thought I was making a killing. LOL.