Day Trading Blog: 13th Thursday Up, Down, Down, Side

Thursday, August 13, 2009

13th Thursday Up, Down, Down, Side

High of the Day: R2
Morning Reversal at: Prior Day Close at 3.10 am
US Market Open Move ended at: Current Day Open at 10 am
Low of the Day: Prior Day Close
Close of the Day: R1

Profit 9,22 R optimized or
Profit 11,5 R trading all signals

Yesterday we crossed over the 200 EMA on the 10 Min Chart, this is quite bullish. On 3 am price was above the opening price and above prior days close and above 200 ema, so a quick gap fill trade was possible. I however entered long on the reversal bar at yesterdays closing price going for the 10 Min Target at 5440. The automatic strategy however traded the two pullbacks short and got stopped out with two -1 R losses.

Tradelist

Setup Rules:

To avoid wrong long setups in the morning on very bullish days don't take long setups above camarilla H4 before 8 am

Exit Rules:

Trail short stop if the price breaks below prior day high after 8.30 am

No comments:

Post a Comment

Trading Rules:

how to trade profitable? with KSE. knowledge, strategy, execution.
Knowledge: You need to buy low and sell high. So I wait for the price to first go to a prior support level on the daily, 4h, 1h chart.
Strategy: Timing is important so I trade when there is a good setup on the dax, s+p, nasdaq or oil market. My goal is to make few trades with high risk reward, that is archived by either holding a trade till the market closes or reaching a level that sets up a counter trade.
Execution: Usually there is only a 20 point risk involved, so I try to get into a prior support level on the 10 min chart and automatically set a stop and multiple take profit targets.
All the little details how to trade better are listed here but I like to keep it simple: just enter the market at prices with a target that it at least 3 times the initial risk.

The Legal bit

Risk Disclaimer and Disclosure Statement

Trade at your own risk. The information provided here is for Education only and is of a general comment only and neither purports nor intends to be, specific trading advice. It has been prepared without regard to any particular person's investment objectives, financial situation and particular needs. Information should not be considered as an offer or enticement to buy, sell or trade. You should seek appropriate advice from your broker, or licensed investment advisor, before taking any action.

By reading this Blog, you acknowledge and accept that all trading decisions are your own sole responsibility, and I cannot be held responsible for any losses that are incurred as a result.

There is risk of loss in trading and investing. All trade decisions are your own sole responsibility.