Day Trading Blog: Trading Plan: Timing the 2 or 3 most profitable moves that happen everyday

Sunday, August 29, 2010

Trading Plan: Timing the 2 or 3 most profitable moves that happen everyday

Market cycles repeat over and over again, so to not get fooled by minor moves that happen and then reverse to the real trends sticking to certain entry times might help.

Over the last 6 month following entry times had been very proftiable for longer trends:

Monday: After 3.30 am and after 9.59 am

Tuesday: After 3.00 am, after 9.30 am and after 10.00 am

Wednesday: After 4.10 am, after 9.00 am and after 10.00 am

Thursday: After 4.00 am, after 8.20 am and after 9.45 am

Friday: After 3.30 am, after 8.30 am and after 9.45 am

Note: If the market already reversed earlier and there is high potential it obviously makes sense to enter earlier but that happens only every 10th day...

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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.

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