Day Trading Blog: 27th September Monday

Monday, September 27, 2010

27th September Monday

FDAX:

Strategy for trading on mondays is to enter low risk trend trades after 2.35 am, 4.15 am, 5.50 am, 8.30 am, 9.59 am and 10.45 am.

after 3 am: Prior Day Closed on a Swing High so only looking for shorts on a gap up. Long above 6334 or Reversal at Prior 6306 Support, Countertrend Short below 6328 or on Low Risk Entry Signal before the breakout

2:38 am short
4.40 am short
5.59 am short
8.22 am short

after 9:30 am: First a gap fill on the S&P then the trend from this morning most likely short.Long above 6317 or Reversal at 6304, Short below 6300 or on Low Risk Entry Signal before the breakout

9.28 am short
11.02 am short
2.58 pm short

Crude Oil: In addition to entry times that happen on stock market indices I am looking for moves after 9 am

4.42 am short
6.56 am long
9.41 am short
10.33 am long
11.00 am short
1.45 pm long

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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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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.