Trading Plan: Reducing the time in market, Limiting risk with renko charts

For reversal and high volatile markets its wise to use renko charts, to get entries after blue/red bars with just 3 points risk.

If price is above a decision point area and the polygonal moving average is rising (green) then its wise to be long and when price is below a dp area and we have a red moving average line on the chart is wise to be short.

This elminiates some loosing trades but on the other hand generates less profits on instant reversal, so less stress more trades that generate quicker profits + this way of trading can be automated.

Trading Plan: Re-Entry on Strong Trends

Always use a close above a trendline for a re-entry long and a close below a trendline break for a short re-entry on the lower timeframe.

The idea is to be breakeven when the price comes to a new swing high on long or new swing low on short trades therefore entries are good if they have more room to the swing high than the last swing low.

Trading Plan: Continuation Trades

Trading Plan: Downtrend or just a Dip

The critical 8.30 news event can be traded this way, that a short trend will happen if the 200 ema is down before the news, however if it is up the quick downmove might be just a dip and price will rally after 9.00 am

26th February Friday

Goals for today:

1. Trade according to my Plan with good feelings about the outcome.
2. 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.
3. 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.
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.

5 FDAX Trades: (20th trading day of the month it seams that everything is possible)

• 3.00 am trend
  
• 4.10 am - 5.00 am short
• 5.00 am trend
  
• 6.00 am - 7 am trend
  
• 8.20 am long
  
• 9.00 am short
  
• after 10.05 am long
  
• 10.30 am short (on downtrend 10.30, on uptrend just like last friday 11.40 short)
  
• 11.00 am long
• 13.00 long
  
• after 15.10 long
  

4 Crude Oil Trades:

• 3:30 am long
  
• 4:55 am trend
• after 7.00 am trend
  
• after 8.30 am long
  
• 9.00 am - 9.30 am short till 9.40 am - 10.00 am
  
• after 10.05 am long
  
• 13.55 trend till 14.30
  

Profit 40 Points MTP Manual DP System FDAX
Profit 100 Points MTP Manual DP System CL

25th February Thursday

Goals for today:

1. Trade according to my Plan with good feelings about the outcome.
2. 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.
3. 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.
4. Don't make anymore trades once the profits are cashed in.

3 FDAX Trades (Today on the 19th trading day of the month we could see a w pattern ):

• 2.30 am - 4.15 am short
  
• 3.00 am long, 4.15 am long
  
• 5.00 am - 6.20 am trend
• 7.15 am - 8.30 am short
• 9.00 am trend
• 9.45 am long
• 10.15 am short
  
• after 11.00 am trend
  

3 Crude Oil Trades:

• 3 am short
• after 4.00 am - 5.30 am trend
• after 7.55 am - 8.30 am short
• 9.00 am trend
• 10.15 am short
• 11.00 am trend
• 13.00 am trend

Profit 40 Points MTP Manual DP System FDAX
Profit 100 Points MTP Manual DP System CL

24th February Wednesday

Goals for today:

1. Trade according to my Plan with good feelings about the outcome.
2. 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.
3. 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.
4. Don't make anymore trades once the profits are cashed in.

4 FDAX Trades (Today on the 18th trading day of the month we could see the typcial sideways trading after a trending tuesday):

• 2 am trend
  
• 3.50 am short
  
• after 6.10 am long
  
• 7.30 am - 8.40 am trend
• 9.15 am long (if oversold)
  
• 9.55 am - 10.20 am trend
• after 10.30 am trend till 11.10
  

4 Crude Oil Trades:

• after 2.15 am trend
  
• after 3.15 am trend
  
• after 6.30 am trend
  
• after 8.00 am trend
  
• 9.40 am - 10.00 am short till 10.35
  
• after 10.35 long
  
• after 13.00 trend
  

Profit 40 Points MTP Manual DP System FDAX
Profit 100 Points MTP Manual DP System CL

23th February Tuesday

Goals for today:

1. Trade according to my Plan with good feelings about the outcome.
2. 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.
3. 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.
4. Don't make anymore trades once the profits are cashed in.

5 FDAX Trades (On the 17th trading day of every month we could see a trending day)

• 2 am long
  
• 3 am trend
• 3.30 - 4.10 am trend
  
• 5.00 am - 8 am short
• 7.30 am long
  
• 10.00 am trend
  
• 10.30 am trend
  
• 11.00 am - 12.00 am trend
  

3 Crude Oil Trades:

• 2 am long
  
• after 3.00 am short (if oversold long)
  
• 4.05 - 4.45 am long
• after 5.00 am - 8.00 am short
  
• 8.00 am - 9.30 am long
• 10.00 am trend
• 10.30 am trend
  
• after 11.30 - 12.30 trend till 13.30
  

Profit 40 Points MTP Manual DP System FDAX
Profit 100 Points MTP Manual DP System CL

22th February Monday

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 trades on 1 min FDAX chart in the Decision Point Areas from the 3 Min Chart.
3. 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.
4. Don't make anymore trades once the profits are cashed in

3 FDAX Trades: Today is the 16th trading day of the month, but like last week this trading day of the month does not seam to predict the price action as good as last weeks trading day.

• 2.20 am - 3.00 am long till 3.00 - 3.30
• 3.10 am trend till 4.00 am
  
• after 4.25 am trend
• 5.00 am long
  
• 7.00 - 8.00 am long
• 8.15 am short
  
• 9.30 am - 10.00 am trend
  
• 10.15 am trend
  
• 11.30 am long
  

3 Crude Oil Trades:

• 2.20 am long
• 3.00 am trend till 4.00 am
  
• 5.40 trend
  
• after 7.00 am trend
  
• after 8.00 am short
  
• after 9.30 am trend
  
• 10.15 trend
  
• after 10.40 am short
• 12.20 long , 13.20 long
  

Profit 40 Points MTP Manual DP System FDAX
Profit 100 Points MTP Manual DP System CL

Today I did too many trades to capture each of the 5 profitable moves I spent about 3 attempt to enter and exit at the beginning and end of trend, tomorrow I will be using an automatic trail stop to avoid getting out too early.

19th February Friday

Goals for today:

1. Trade according to my Plan with good feelings about the outcome.
2. 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.
3. 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.
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.

3-5 FDAX Trades: (15th trading day no clear pattern, sideways or up or down anything is possible, to be precise this trading day of the month worked only well from the 1st to the 9th trading day, this week the predictions where not that precise)

• 3.05 am trend
  
• 4.10 am short
  
• 5.30 am - 7 am long (on trendline break otherwise hold short till after the 8.30 news)
  
• 8.30 am trend
  
• 9.00 am - 9.30 am trend till 15.30 (on low volatility) or 9.35 - 10.30 am
  
• after 10.00 am trend till 11.30 am
  
• 12.30 short till 2 pm
  
• 2 pm 3.30 pm long
  

3 Crude Oil Trades:

• 4:55 am trend
  
• 9 am long (or 8.30 if news)
  
• 9.00 am - 9.30 am short till 9.40 am - 10.00 am
  
• 10.00 am - 10.30 am trend till 11.30 am
• 11.30 - 13.00 short till 13.55
• 13.55 trend till 14.30
  

Profit 40 Points MTP Manual DP System FDAX
Profit 100 Points MTP Manual DP System CL

18th February Thursday

Goals for today:

1. Trade according to my Plan with good feelings about the outcome.
2. 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.
3. 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.
4. Don't make anymore trades once the profits are cashed in.

2 FDAX Trades (The last 2 days this day of the month method did work out, yesterday the US session closed lower, the day before yesterday the US session closed higher and it was a trending day, only monday we had a holiday and the pattern did not work out. So today the 14th trading day we should see a trending day):

• 2.30 am - 4.15 am short
  
• 5.00 am - 6.20 am trend
• 7.15 am - 8.30 am short
• 9.00 am trend
• 9.45 am long
• 10.15 am short
  
• after 11.00 am trend (if short then trend till 11.45 am)
  

2 Crude Oil Trades:

• 3 am short
  
• after 4.30 am - 5.30 am trend
  
• after 7.55 am - 8.30 am short
  
• 8.30 am trend
• 10.15 am short
• 11.00 am trend
  

Profit 40 Points MTP Manual DP System FDAX
Profit 100 Points MTP Manual DP System CL

17th February Wednesday

Goals for today:

1. Trade according to my Plan with good feelings about the outcome.
2. 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.
3. 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.
4. Don't make anymore trades once the profits are cashed in.

4 FDAX Trades (Today on the 13th trading day of the month we could see a similar pattern than the last times, nevertheless yesterdays pattern up then down then up should have happend on the 11th day not on the 12th so maybe because of the holiday on monday we are still on the 12th trading day today, who knows I will trade the usual wednesday times..):

• 2 am short
  
• 3.15 am- 4 am long
• after 5.30 am trend
• 7.30 am - 8.40 am trend
• 9.00 am long (if oversold)
  
• 9.55 am - 10.20 am trend
• after 10.30 am trend
  

4 Crude Oil Trades:

• after 4.00 am long
  
• after 6.30 - 8.30 short
  
• after 8.30 am long
  
• 9.30 am - 10.00 am short till 10.40
  
• after 10.40 long
  
• after 11.25 trend
  

Profit 40 Points MTP Manual DP System FDAX
Profit 100 Points MTP Manual DP System CL

16th February Tuesday

Goals for today:

1. Trade according to my Plan with good feelings about the outcome.
2. 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.
3. 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.
4. Don't make anymore trades once the profits are cashed in.

4 FDAX Trades (On the 12th trading day of every month we could see a trending day and like yesterday morning a very early rally, I will pay special attention if there is a shorting opportunity around 5:39 am and 10:39 am like last tuesday)

• 2 am long
  
• 3 am short
• 3.30 - 5 am long
• 5.10 am - 8 am short
• 8.00 am long till 9.39 am
  
• 10.05 am long till 10.15-10.30
• 10.30 am trend
  
• 11.30 am - 12.00 am trend
  

3 Crude Oil Trades:

• after 3.00 short (if oversold long)
  
• 4.05 long
• after 6.30 - 8.00 short
  
• 8.50 - 9.30 long
• 10.00 long
  
• after 11.30 - 12.30 trend till 13.30
  

Profit 40 Points MTP Manual DP System FDAX
Profit 100 Points MTP Manual DP System CL

5.39 short worked out well, but in the US session price action was very bullish so almost only long trades.