Day Trading Blog: May 2011

Tuesday, May 31, 2011

31th May Tuesday

Todays Plans:

Plan for trading the FDAX is to go long up to 7258 / 7288 / 7315
Plan for trading crude oil is to go long up to 101.77 / 102.06 / 102.77
Plan for trading EURUSD is go long up to 1.4468
Plan for trading the bund is to go short down to 125.31 / 125.04

After 8 am:

Plan for trading the FDAX is to go short down to 7272 (50%) and long up till close
Plan for trading crude oil is to go long up to 103.30 and short down to 102.26 and long up to 102.77
Plan for trading the euro future is to go short down to 1.4325
Plan for trading the nasdaq is to go long up to 2362.50 and short down to 2346 and long up till close

Monday, May 30, 2011

30th May Monday

Todays Plans:

Plan for trading the FDAX is to go long up to 7236
Plan for trading crude oil is to go short down to 99.61

After 8 am:

Plan for trading the FDAX is to go long up to 7235
Plan for trading crude oil is to go long up to 101.21
Plan for trading the euro future is go long up to 1.4307 / 1.4400
Plan for trading the nasdaq is go long up to 2344

Sunday, May 29, 2011

After the the daily targets (long: current low + yesterdays or day before yesterdays range) have been reached the next target are the weekly targets (long: current week low + prior weeks range or week before prior weeks range)

Saturday, May 28, 2011

Week 21 FDAX Sideways, Nasdaq & Euro & Crude Oil LONG

Range Extension Targets reached on

Bund: 3 out of 5 days
Fdax: 3 out of 5 days
Crude Oil Overnight: 2 out of 5 days (trade only above/below prior day high/low)
Crude Oil after 9 am: 3 out of 5 days
EURUSD before 8.20 am: 3 out of 5 days (better to hold overnight)
Euro Future after 8.20 am: 4 out of 5 days
Nasdaq: 4 out of 5 days

Trading Plan: Nasdaq Opening Depending on 50% line

Friday, May 27, 2011

27th May Friday

Todays Plans:

Plan for trading the FDAX is to go short down to 7156 / 7125
Plan for trading crude oil is to go short down to 100.18
Plan for trading EURUSD is to go short down to 1.4207
Plan for trading the Bund is to go long up to 125.70 and to go short down to 125.40

After 8 am:

Plan for trading the FDAX is to go long up to 7248
Plan for trading crude oil is to go short down to 100.18
Plan for trading the euro future is to go short down to 1.4206 and then go long up to 1.4305
Plan for trading the nasdaq is to go long up to 2340

Thursday, May 26, 2011

26th May Thursday

Todays Plans:

Plan for trading the FDAX is to go short down to 7133
Plan for trading crude oil is to go short down to 99.66
Plan for trading EURUSD is to go long up to 1.4192
Plan for trading the Bund is to go long up to 125.11 / 125.58

After 8 am:

Plan for trading the FDAX is to go short down to 7081 and to go long up to 7179
Plan for trading crude oil is to trade short down to 99.86 / 99.66
Plan for trading the euro future is to go short down to 1.4072 and to long up to 1.4120 / 1.4226
Plan for trading the nasdaq is to go long up to 2325

Wednesday, May 25, 2011

25th May Wednesday

Todays Plans:

Plan for the FDAX is to trade long up to 7155
Plan for trading crude oil is to trade long up to 100.43
Plan for trading EURUSD is trade long up to 1.4144
Plan for trading the bund is to trade short down to 124.94

After 8 am:

Plan for the FDAX is to trade long up to 7207
Plan for trading crude oil is to trade long up to 100.17 / 101.91
Plan for trading the euro future is to trade short down to 1.4033 and to trade long up to 1.4077 / 1.4105
Plan for trading the nasdaq is to trade long up to 2310 / 2317

Tuesday, May 24, 2011

24th May Tuesday

Todays Plans:

Plan for trading the FDAX is to go long up to 7202
Plan for trading crude oil is to go long up to 99
Plan for trading EURUSD is go long up to 1.4087
Plan for trading the bund is to go short down to 124.83 / 124.71

After 8 am:

Plan for trading the FDAX is to go short down to 7114
Plan for trading crude oil is to go long up to 100 and to go short down to 98.13
Plan for trading the euro future is to go long up to 1.4125
Plan for trading the nasdaq is to go long up to 2324 and to go short down to 2305 / 2299

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.

The Legal bit

Risk Disclaimer and Disclosure Statement

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.