Friday, May 23, 2008

HSI trade

HSI opens at 8:30am my time for the afternoon session and lately I started trading HSI again, as that contract has a high range, something I like for my trading. HSI was down for the day, when it reopened and the selling continued, but found a bottom at 24760.


Long 24840 and Add-on at 24830 after 24800 held. I had decided to keep the trade when I was not filled at 24844 after the HH was in as I saw a good possibility for a Gap fill.


The trade was not straight forward, actually it came twice to a point where I was ready to throw the towel or close at break even, frustrated that the trade was not working and glad that I got out at BE at least. I held, because we made a double bottom at 24800 and then a higher low. After we made that HL the risk was really there that I would close the trade, which again ran into that selling resistance below 24860. But I stayed with the trade and was rewarded with a 24901 exit.