Saturday, July 21, 2007

5K to 250K: Live Trading with Maxforce

Did 2 trades (1st: Long; 2nd: Short) with Maxforce live yesterday. Here's the chart and transcript:

Trade #1: Timing to go long...

Trade #2: Timing to go short...

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4 comments:

Maxforce said...

Yeap. An eye opener indeed.
Thank you kind sir :)

Boon said...

Your are very welcome!

Anonymous said...

Boon,

Why did you profit taking at 838.40? When the MACD is trending higher? Just curious.

Pokerface

Boon said...

838.4 is Pivot 3 in terms of 1-2-3-4 Swing, following a big down swing. Pivot 3 is a second chance for the bear to go short. Yes, the MACD on 220-tick was still blue, but you don't want to wait for it to turn red before reacting. In fact, MACD on 55-tick, which is your "trigger" time frame was already in red when Pivot 3 was forming -- this is more important in that specific situation. The chances of Pivot 3 taking out pivot 2 was high due to the predominant down trend shown that day. Therefore, I decided to lock in profit before the market showing signs of weakness, and it was my first trade of the day. I always look for a good start before anything.