Day Trading Blog: 17th March Wednesday

Wednesday, March 17, 2010

17th March 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.

4 FDAX Trades (biggest trends yesterday long from 4 to 6 and from 10 to 11.30,
after 11.30 short, after 14.40 long):

2 am trend
3.15 am long
after 3.30 am trend
after 4.00 am trend
after 6.10 am trend
8.30 am trend
after 9.40 am long
after 10.30 am trend
after 11.40 am trend till 12.30 am
after 2.00 pm trend

4 Crude Oil Trades:

after 2.15 am trend
after 3.50 am trend
5.50 am long
after 6.30 am trend
after 8.30 am trend
9.40 am - 10.15 am short till 10.32
after 10.31 trend
11.20 long
after 12.30 am trend
after 13.40 am trend

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

3 comments:

BBHMarch 17, 2010 at 3:06 AM
Just a small note - 2am is actually 3 am now. :))

I'm sure you know it, but some third party readers might get confused. :)

Cheers!
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daxdaytraderMarch 17, 2010 at 10:16 AM
yep your right, but next week all will be in sync again, notice i added also a forecast how trading action could be, today (wednesday like 1 month ago, the double top could be the end of the rally for today)

cheers
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Replies
BBHMarch 17, 2010 at 2:13 PM
huh.. I don't know. Completely hate the past 3 weeks. haha..

What do you think? Will DAX go and test 6100 this week?
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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.