Goals for today:
- Earn at least 40 Points by entering and exiting short and/or long trades on 1 min FDAX chart in a Decision Point Area from the 5 Min Chart.
- Earn at least 100 Points by entering and exiting short and/or long trades on a 1 Min Chart in a Decision Point Area from the 5 Min Chart.
- Earn at least 10 Points by entering and exiting short and/or long trades on 5 min ES chart in a Decision Point Area with 2 contracts.
- Don't make anymore trades once the profits are cashed in.
Determine trend, entry and exit points, times where I have to make a decision.
On Thursday this usually means depending if we are oversold or overbought a rally or sell off.
In the morning we will have a bearish crude oil market with the typical rallies to allow re-entries and then at around 10 am a big sell off.
The DAX should be already oversold so we might see a bounce up at the 3 am open and then possible after a double bottom another small long trend, same thing should happen at the 8.30 news (being oversold we might see a bounce up) From then the US session should repeat what we have seen in the morning, so after 9.30 am a small dip then a rally and after the double top a sell off.
Profit 185 Points MTP Manual DP System FDAX
Profit 360 Points MTP Manual DP System CL
Profit 7 Points MTP Manual DP System ES
Profit 0 Points Automatic Overbought & Oversold System FDAX
I learned today to really trade every setup in the DP area, not waiting for the "perfect" entry suggested by the flux capacitor. This way I was in a short trade on 9.30 and after the 10 am news, although the flux capacitor like yesterday suggest a short trend after the news but since we where already oversold i waited for a rally back into the DP area for a lower risk entry point.
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