Day Trading Blog: Week 25 Nasdaq & Bund LONG, Fdax & Euro Sideways, Crude Oil SHORT

Saturday, June 25, 2011

Week 25 Nasdaq & Bund LONG, Fdax & Euro Sideways, Crude Oil SHORT

Euro Future did not reach its weekly short target it should have gone down to 1.3993, but at least EURUSD went up to 1.4446 (prior weeky long target), overall it makes more sense for swing trades to go long the swish franc and short the pound.

The markets that did not reach their weekly short targets I consider bullish if they stay next monday above fridays closing price. So looking forward to go long on:

Nasdaq
Euro

On the other hand those market I try to short as they reached their long targets on friday:

Bund

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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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