Day Trading Blog: 10th December Friday

Friday, December 10, 2010

10th December Friday

FDAX:

Strategy for trading on fridays is to enter low risk trend trades after 4.00 am, between 5.10 am and 7 am, 8.15 am or 8.45 (on news days), 9.35 am, 10.30 am and 2.30 pm

after 3.00 am: Short below 6988 Long above at 6992 or on Low Risk Entry Signal before the breakout. On Daily Chart looks like first we go down to prior day close or low and then if we go above prior day open up to 7050.

3.59 am LONG
7.14 am LONG
8.48 am SHORT

after 9:30 am: Prior Day Closed on a Swing High so looking for Long Continuation. Short below 6996, Long above 7010 or on Low Risk Entry Signal before the breakout

10.00 am SHORT
11.55 am long
2.30 pm LONG

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

5.14 am LONG
8.40 am SHORT
9.46 am SHORT
11.21 am SHORT
12.08 am long

S&P, FDAX and Nasdaq moved up to the long target. Crude Oil traded down to the short target (but stopped at the low of prior friday) Bonds also traded down to the short target, only the Euro did not reach any target but almost went down to the short target and almost reached the long 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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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.