Day Trading Blog: 22th October Friday

Friday, October 22, 2010

22th October Friday

FDAX:

Strategy for trading on fridays is to enter low risk trend trades after 3.30 am, 4.00 am, between 5.10 am and 7 am, 8.15 am (on news days), 9.45 am and 10.30 am.

after 3.00 am: Short below 6595 or Reversal at 6630, Long above 6605 or Reversal at 6570 or on Low Risk Entry Signal before the breakout

3.54 am long
6.47 am LONG

after 8:30 am: Short below 6624, Long above 6630 or Reversal at 6614 or on Low Risk Entry Signal before the breakout

9.17 am short
9.53 am short
11.14 am short

Crude Oil Trades: In addition to entry times that happen on the stock market indices I am also looking for moves after 9.00 am and 2.00 pm

2.42 am short
7.25 am LONG
9.51 am short
11.07 am SHORT
2.10 am LONG

Note US indicies went down at the open but did not reach a target

2 comments:

pcampbell7October 26, 2010 at 7:39 AM
I stumbled across your site this weekend and have been looking at the instruments you trade ,I am based in the UK(GMT time zone)

I would like to know what time zone you are in as in the example :

FDAX:
Strategy for trading on Tuesdays is to enter low risk trend trades after 2.45 am, 3.20 am, 5.30 am, 7.05 am - 8.20 am, 8.45 am, 9.30 am, 10.20 am.

What time zones are these ? so I can allocate the GMT time zone to the trade

Also can we connect on skype ?

Thanks
Patc
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daxdaytraderOctober 29, 2010 at 2:31 AM
eastern time zone (new york)
your welcome
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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.