Friday, April 16, 2010

16th April Friday




Workhours from 3 am till 6 am and from 9.45 am till 11.45 am

DAX Trades:
expecting a trend after 3.00 am - 3.10 am, 4.45 am, 9.45 am, 11.00 am, 12.15 am and after 3.15 pm


after 2.45 am: up move, down move, side then up trend:

  • 3.11 am long
  • 3.24 am short (signal but no trendline break)
  • 4.10 am short (signal but no trendline break)
  • 4.30 am long
  • 5.15 am short
  • 5.54 am long
  • 6.04 am short
  • 8.31 am short
  • 9.29 am long
after 9.30 am: down move, long trend
  • 9.42 am short
  • 10.12 am long
  • 10.35 am short
  • 10.48 am short
  • 11.09 am short
  • 11.21 am long
  • 12.55 am long
  • 2.02 pm long
  • 3.12 pm long
Crude Oil Trades:
  • 2:00 am short
  • 4:30 am long
  • 5:44 am short
  • 6.10 am short
  • 8.05 am long
  • 8.31 am short
  • 9.25am long
  • 10.19 am long
  • 10.35 am short
  • 10.48 am short
  • 11.08 am short
  • 11.19 am long
  • 2.05 pm long

Profit 80 Points MTP Manual DP System FDAX
Profit 200 Points MTP Manual DP System CL

14 comments:

  1. What a low open.. wow!

    I'm paying close attention to 6258 level. We can likely go up at first to 6291 (maybe even 6305) and then selloff to 6258 level again. And if that fails, then we could be heading towards 6226ish. I'm looking the charts for confirmation. :-)

    What are your thoughts?

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  2. i have no clue, expecting a break to the upside or downside, crude oil looks at the moment more bullish

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  3. once second, this is a range extending market, so i obviously dont get on board of a breakout but on a pullback once we are in a trend

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  4. Out of my long trade from 6260 to 6290. It can go higher than that, but it's slightly riskier area above 6291. So I'll be now looking to see if there will be that short opportunity too.

    Which would possibly take us back down again. We'll see!

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  5. dont you trail your stop?, there is no lower high and also no high volume, how come you think the trend will stop now?

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  6. I guess you will wait till we break through resistance and then get back on board the long train on a pullback, I am feeling more confident to stay on board to avoid getting a bad fill on the re-entry

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  7. I rarely trail my stop. I just look at the chart and and the price movement. I could be wrong (as yesterday - the market went much higher after I exited my long trade... even though I entered later for a quick 20pt).

    But I'm very protective when it comes to my capital. And I just cashed in on 30 points and it's enough for me from one trade. At this situation it doesn't look like a smart thing for me to risk giving up maybe 10 points, in order to gain another 10 later.

    Of course the market an even go as high as 6315 - it has some supporting signals for that, but it can as well turn around. I never risk with my trades.. I trade sure things. It was a sure thing until 6290. :-)

    Cheers!

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  8. Nothing wrong with 30 points, in fact thats great, I am just trying to understand why you exited, 6294 was resistance, well 6300 the magic number :-)

    I always let 5-8 points on the table, with my trendline trailing method, thats not so good, so I am trying to find new ways to exit.

    I was thinking about exiting at every double top and re-enter if we get a tripple top break out, so 6287, 6294 and 6302 would have been the targets, but on the other hand that would create additional trades. Tell me what you think about this quest to catch the high of the day :-)

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  9. Entering and exiting on trend might work, but it's not for me. I like to have a one solid trade.

    I exited because it was an important level and I really wasn't looking for more than 30points from that trade. :)

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  10. your right longer trends are very seldom these days, think i found a good exit strategy for me, besides trailing the stop I will now look at the 3rd double top in a trend to exit with a limit order at that top. Nevertheless my other theory that most of the trend moves in DAX are about 40 points was right this morning.

    On other thing: do you think its possible to daytrade only 4 hours a day and not miss any big move? Like I said yesterday in theory you only need the first 2-3 hours after the dax opens and max. 2 hours after the us market opened...

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  11. You know I used to only trade 4 first hours because after that the market was pretty much sideways till US open. But during the last month (or so) it has moved throughout the day.

    It depends on a day. Once the market stops at noon (my time) and doesn't seem to be moving, I just start doing other things (and follow it via iPhone). :-)

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  12. I added now to my blog some "working hours", but your right its most of the time the first 3 hours after 3.00 am and then 2 more hours after 8.00 am or after 10 am on thursdays, that should be enough

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  13. Cool! :-)

    I decided to take the rest of the day off. Went to visit my friends and just had some fun with a new BMW M5 for an hour. It's been a great week and I will rest for the next one.

    Have a great weekend (and what's left of this trading day). :-)

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  14. I see we drive the same car ;-) have a great weekend, I am looking for one big trend on the EURUSD or crude oil then I am done for today. cu next week

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