Day Trading Blog: January 2010

Saturday, January 30, 2010

Trading Plan: Where to exit the Short Position in the Morning

The DP from the low of the US cash market session is a good point to exit a short position in the morning.

Friday, January 29, 2010

29th January Friday

Goals for today:

Trade according to my Plan with good feelings about the outcome.
Earn at least 40 FDAX Points by entering and exiting short and/or long trades on 1 min chart in the Decision Point Areas from the 3 Min Chart.
Earn at least 100 Crude Oil Points by entering and exiting short and/or long trades on a 1 Min Chart in the Decision Point Areas from the 5 Min Chart.
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.

Fridays Theme for the Stock Market:
Rally into the 8.30 News then Sell off the Overbought Market.

7 FDAX Trades:

after 3.10 am long
after 3.50 short
after 5.30 am long
after 6.30 short till 7.00
after 8.10 long
short after 8.30 am
after 9.35 short till 10.10 or after 9.40 long trend till 10.10
10.20 reverse
after 10.30 short
11.30 reverse

5 Crude Oil Trades:

after 2.10 am trend till 3.00 am
after 3.20 long
after 4.45 short
after 6.40 trend
after 7.40 long
after 8.50 am short
after 9.30 am short till 10.15

after 10.15 am long

after 10.50 short
after 13.20 short
after 16.00 long

Profit 5 Points MTP Manual DP System FDAX
Profit 50 Points MTP Manual DP System CL

Its wise to look fridays just at the DP areas and not so much the flux capacitior timing, this way i would have catched the last 10.54 short trade and the 5.40 long.

Thursday, January 28, 2010

28th January Thursday

Goals for today:

Trade according to my Plan with good feelings about the outcome.
Earn at least 40 FDAX Points by entering and exiting short and/or long trades on 1 min chart in the Decision Point Areas from the 3 Min Chart.
Earn at least 100 Crude Oil Points by entering and exiting short and/or long trades on a 1 Min Chart in the Decision Point Areas from the 5 Min Chart.
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.

Thursdays Theme for the Stock Market:
Double top or bottom then sell off or rally (trending day)

6 FDAX Trades:
2.45 am short
after 3.20 trend
short after 4.05 am (4.30 to 5.15 am sideways)
short after 6.00 am
long after 6.15 am
8.30 news (= strong move, if sell-off long after 9 till 9.15, if rally short after 9)
long after 9.00 am
short after 9.30 am
long after 10.00 am (if there are news) to DT
after 10.15 short
after 12.00 long
after 14.15 long
6 Crude Oil Trades:

after 2:15 am trend
after 3:20 am trend
after 4.40 am trend (after 5.20 reverse)
after 6.30 am long
after 8 am short
after 9 am long
after 9.40 am short
10.15 reverse
after 11:15 am long
after 12.00 short
after 12:50 long
14:10 am short

Profit 40 Points MTP Manual DP System FDAX
Profit 30 Points MTP Manual DP System CL

Wednesday, January 27, 2010

27th January Wednesday

Goals for today:

Trade according to my Plan with good feelings about the outcome.
Earn at least 40 FDAX Points by entering and exiting short and/or long trades on 1 min chart in the Decision Point Areas from the 3 Min Chart.
Earn at least 100 Crude Oil Points by entering and exiting short and/or long trades on a 1 Min Chart in the Decision Point Areas from the 5 Min Chart.
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

7 FDAX Trades:

after 3.00 long (2nd entry after 3.40)
after 4.30 short
after 5.00 long
after 6.00 trend
after 7.30 trend
choppy action (long after 9.00, or 9.30 in 1 min dp area, after double top short
after 10.00 short
after 10.35 trend
after 13.20 long
5 Crude Oil Trades:

2.00 am short
after 3.10 long
after 4.30 short
after 6.15 long
after 8.00 trend
9.05 reverse
9.50 short scalp (10.30 news)
10.54 long till 11.45
after 13.30 long
after 13.50 short

Profit 40 Points MTP Manual DP System FDAX
Profit 30 Points MTP Manual DP System CL

Tuesday, January 26, 2010

26th January Tuesday

Goals for today:

Trade according to my Plan with good feelings about the outcome.
Earn at least 40 FDAX Points by entering and exiting short and/or long trades on 1 min chart in the Decision Point Areas from the 3 Min Chart.
Earn at least 100 Crude Oil Points by entering and exiting short and/or long trades on a 1 Min Chart in the Decision Point Areas from the 5 Min Chart.
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.

6 FDAX Trades::

3.00 trend 3.20 reverse
after 4.00 short
after 5.00 long
after 7.30 short
after 8.00 long till 8.40
2nd long after 10.00 (or after 9.33 if no news)
after 10.15 short
trend after 11.15
trend after 13.15 till close

7 Crude Oil Trades:

after 3.00 short
4.30 long
after 6.00 looking for short setups
after 9.00 long to Double Top
after 10.15 short
after 11.15 trend
after 13.30 long
after 14.25 short

Profit 38 Points MTP Manual DP System FDAX
Profit 60 Points MTP Manual DP System CL

Monday, January 25, 2010

25th January Monday

Goals for today:

Trade according to my Plan with good feelings about the outcome.
Earn at least 40 Points by entering and exiting short and/or long trades on 1 min FDAX chart in the Decision Point Areas from the 3 Min Chart.
Earn at least 100 Points by entering and exiting short and/or long trades on a 1 Min Chart in the Decision Point Areas from the 3 Min Chart.
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.

Mondays Theme for the Stock Market:

Two Trends after 3.00 am and after 9.30 am.

5 FDAX Trades:

3.00 am long (after 3.05 bearish)
after 3.33 am trend
4.00 am reverse
5.00 am long
after 6 am short
after 8.30 am long
after 9.20 am long
after 9.45 am short
10.15 reverse
after 10.30 am short
after 11.40 trend change

5 Crude Oil Trades:

after 2.00 am short
3.10 am to 6 am long
after 7 am short
after 9.05 am trend change
after 9.55 am short
after 11.40 am trendchange
14.15 short

Profit 30 Points MTP Manual DP System FDAX
Profit 70 Points MTP Manual DP System CL

Saturday, January 23, 2010

Review 3rd Week of January

Trading Plan: Trade all setups no matter how last weekday traded

Enter / Exit in a DP area from the 3 min chart or from the 1 min chart if there are 3 higher highs or lower lows
Wait for correct color on clv and rlv entries or if you can not resist making an chv or rhv entry trail stops after 1 min.
remember the best exit is a new DP area but this happens only on strong trends and if there are no targets from yesterdays extreme points
know roughly when markets are choppy, too volatile due to news and simply enter at the correct time IN a dp area
there is most of the time a 2nd or 3rd entry chance so dont be shy entering later

Friday, January 22, 2010

22th January Friday

Goals for today:

Trade according to my Plan with good feelings about the outcome.
Earn at least 40 FDAX Points by entering and exiting short and/or long trades on 1 min chart in the Decision Point Areas from the 3 Min Chart.
Earn at least 100 Crude Oil Points by entering and exiting short and/or long trades on a 1 Min Chart in the Decision Point Areas from the 5 Min Chart.
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.

Fridays Theme for the Stock Market:
Rally into the 8.30 News then Sell off the Overbought Market.

7 FDAX Trades:

after 2.45 am short to DB
after 3.10 am long
3.40, 4.05 and 5.10 am upmoves
after 3.50 to 7 am bearish (after 4.50 short)
6.05 am long
after 6.30 short till 7.00
short after 8.30 am
long after 9.10 am
after 9.35 short till 10.10 or after 9.45 long trend till 10.10
10.20 reverse
11.30 reverse

5 Crude Oil Trades:

1.15 am long
after 2.10 am trend till 3.00 am
after 3.30 and 4.10 upmoves
after 3.45 short
after 6.40 trend
7.00 reverse
8.30 short
after 8.55 am short
9.10 am long till 9.30
after 9.30 am short till 10.20

after 10.20 am long

after 11.30 short
after 13.20 short
after 16.00 long

Profit 75 Points MTP Manual DP System FDAX
Profit 70 Points MTP Manual DP System CL

Thursday, January 21, 2010

21th January Thursday

Goals for today:

Trade according to my Plan with good feelings about the outcome.
Earn at least 40 FDAX Points by entering and exiting short and/or long trades on 1 min chart in the Decision Point Areas from the 3 Min Chart.
Earn at least 100 Crude Oil Points by entering and exiting short and/or long trades on a 1 Min Chart in the Decision Point Areas from the 5 Min Chart.
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.

Thursdays Theme for the Stock Market:
Double top or bottom then sell off or rally (trending day)

5 FDAX Trades:
2.45 am short (2nd entry after 3.15 am )
short after 4.20 am
4.30 to 6.00 am sideways
short after 6.00 am
long after 6.15 am
8.30 news (= strong move, if sell-off long after 9 till 9.15, if rally short after 9)
long after 9.30 am
short after 9.35 am
long after 10.00 am (news) to DT
after 10.15 short
after 12.00 long
after 14.15 long
6 Crude Oil Trades:

after 2:15 am trend
after 3:20 am trend
after 4.40 am trend (5.40 reverse)
after 6.30 am long
after 8 am short
after 9 am long
after 9.40 am short
between 9.55 am to 10.15 bullish
11.00 news !!!
after 11:15 am long
12.20 short
after 13:40 short
14:10 am short

Profit 40 Points MTP Manual DP System FDAX
Profit 30 Points MTP Manual DP System CL

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.