Saturday, June 11, 2011

Trading Plan: 6 types of trades




Usually there is a 30 points opening move at the 3 am open
after that there is usually a trend move, followed by a news reaction trade
after 8 am (often times prior to the news or after 9 am before the 9.30 am US cash market open)
followed by another trend trade that reaches the daily targets (range extension)

On the crude oil screenshot you can see almost no setups during the day, so the waiting trade is the one that needs to be mastered first :-) However one trade thats similar to the news reaction trade could have been done on that day on the crude oil market: fading of an countertrend move or in other words a main trend continuation trade

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