Day Trading Blog: 4th November Thursday

Thursday, November 4, 2010

4th 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 6664, Long above 6671.

2.30 am long
3.00 am LONG
5.23 am LONG
7.50 am LONG
9.47 am LONG

after 9:30: Short below 6735, Long above 6744 or on low risk entry signal before the breakout

10.01 am SHORT
10.27 am LONG
2.55 pm 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

2.00 am long
3.06 am LONG
8.10 am LONG
9.59 am SHORT
10.17 am LONG
2.10 pm LONG

S&P, Nasdaq reached the long target. EURO and Crude Oil reached the first long targets prior to the 9.30 am US Market open.

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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.