Day Trading Blog: 25th November Thursday

Thursday, November 25, 2010

25th November Thursday

FDAX:

Strategy for trading on thursday is to enter low risk trend trades after 3.15 am, 4.00 am, 5.30 am, 7.15 am, 8.30 am, 9.30 am, 10.30 am

after 3 am : Prior Day Closed on a Swing high so looking for a long continuation. Short below 6830, Long above 6847. Overbought on daily chart suggest a correction day, maybe with a breakout above prior day high.

3.00 am short
3.11 am LONG
5.42 am LONG

after 9:30: Short below 6840, Long above 6847 or on low risk entry signal before the breakout

9.19 am LONG
10.19 am LONG

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

5.29 am LONG
8.55 am LONG
11.48 am SHORT

S&P, Nasdaq, Euro and Crude Oil traded up as predicted but did not reach a target, only FDAX reached the long target and Bonds traded down and also did not reach any target.

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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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