09th December Wednesday

Goals for today:

1. Trade according to my Plan with good feelings about the outcome.
2. Earn at least 40 Points by entering and exiting short and/or long 4 trades on 1 min FDAX chart in a Decision Point Area from the 3 Min Chart.
3. Earn at least 100 Points by entering and exiting short and/or long 2 trades on a 1 Min Chart in a Decision Point Area from the 5 Min Chart.
4. Don't make anymore trades once the profits are cashed in.

Plan to archive these goals:
Determine trend, entry and exit points, times where I have to make a decision and trade my plan with a live account without hesitation.

Wednesday Theme for the Stock Market:

Clear Base then Rally then Sell Off after the Spike up

If there is a overbought situation short in the morning down to the double bottom. Waiting for 10.30 news in the crude oil market then doing one trend trade that last till tomorrow morning.

On the FDAX trade the trending move after the 3 am open into a consolidation level (2 Trades in the Morning). Then waiting for double bottom for a rally before the 8.15 news that often is the high of the week and a sell off before and after the US open. Then around 10 am long but this one is most of the time not a trend trade so expect to exit or reverse if high potential around 10.30 am to 12 am. So not more than 3 trades in the US trading session.

Profit 120 Points MTP Manual DP System FDAX
Profit 17 Points MTP Manual DP System CL

Typical Wednesday trading with the spike at 7 am, I learned that the big rally in the US market starts if there is a double bottom so not directly after the open but if there is a clear higher low.