Day Trading Blog: 25th October Monday

Monday, October 25, 2010

25th October Monday

FDAX:

Strategy for trading on mondays is to enter low risk trend trades after 2.35 am, 3.30 am, 4.15 am, 5.50 am, 8.30 am, 9.35 am and 10.30 am.

after 3 am: Long above 6675 or Reversal at 6631, Short below 6665 or Reversal at 6684 or on Low Risk Entry Signal before the breakout

2:59 am SHORT
3.32 am LONG
4.03 am LONG
8.06 am SHORT

after 9:30 am: Maybe first a gap fill on the S&P then the trend from this morning. Long above 6660 or Reversal at 6633, Short below 6643 or on 6655 Resistance or on Low Risk Entry Signal before the breakout

9.33 am long
10.32 am short

Crude Oil: In addition to entry times that happen on stock market indices I am looking for moves after 5.30 am, 9 am and 11.50 am

3.30 am long
6.13 am short
8.51 am long
10.32 am short
11.51 am short
1.55 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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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.