Day Trading Blog: 17th December Friday

Friday, December 17, 2010

17th 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 7048 Long above 7050 or on Low Risk Entry Signal before the breakout. On Daily Chart looks like first we go down to prior day open and then if we go above prior day high up to 7064.

3.10 am short
5.10 am SHORT
8.20 am LONG

after 9:30 am: Prior Day Closed on a Swing High so looking for Long Continuation. Short below 7024, Long above 7035 or on Low Risk Entry Signal before the breakout

9.56 am SHORT
12.17 am 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

3 am short
5.04 am SHORT
8.20 am LONG
9.05 am LONG
10.07 am LONG

S&P almost reached the long target, Nasdaq reached the long target, FDAX did not reach the short target. Crude Oil reached and Euro reached the short target and Bonds reached the long target.

2 comments:

simonliveDecember 19, 2010 at 5:44 PM
hello,
can you show me how you made the view of your Market Analyzer? I wasn't able to reproduce it although i am also using ninjatrader 7.
thx in advance
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Replies
daxdaytraderDecember 31, 2010 at 11:59 AM
i coded indicators for the market analyzer
so Ninjatrader 7 can display in
the PnL in point, the daily range and the chance since open

you can download these indicators here:
http://www.4shared.com/file/DFnfyItF/bin_Custom_MarketAnalyer.html

cheers
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Replies

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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.