Day Trading Blog: September 2012

Sunday, September 30, 2012

Trading Plan: trendline break before entry, reversal on lower top

re-entry on another trendline break or when the next bar after a cyan bar higher than the cyan bar:

for short re-entry the red box has to be lower than the one before but still not at the swing low:

and of course no re-entry without at least an AB correction on the 1 min (line) chart):

a trick to get in prior to the trendline break is a short entry on a lower high in a DP area

(notice fdax and nasdaq already traded above the DP area therefore only a short entry on the S+P was valid):

Trading Plan: Limit orders for profit target

On all markets it makes sense to use a profit target that is 120 ticks away from last 3min closing price so in case of a sudden move after a news event the position gets closed.

For crude oil the tendancy is that the price will at least pause at 90 ticks away from the 9 am opening prices thats a good spot to take profits as well

Saturday, September 29, 2012

Week 39 Stocks + Euro SHORT, Gold + Crude Oil SHORT + LONG, Bonds LONG

Friday, September 28, 2012

28th September Friday

SHORT Gold
LONG Dow
LONG Crude Oil
SHORT Euro
SHORT Gold
LONG Gap Fill Crude Oil
SHORT Fdax
LONG Gold
SHORT Fdax

Thursday, September 27, 2012

27th September Thursday

LONG Fdax
LONG Dow
LONG Crude Oil
SHORT Fdax (S+P in DP resistance area)
LONG Fgbl
LONG Gold
LONG Crude Oil
LONG Fdax
SHORT Fdax
LONG Gold
SHORT Crude Oil

Wednesday, September 26, 2012

26th September Wednesday

LONG Gold
SHORT Nasdaq
SHORT Gold
SHORT Crude Oil
SHORT Fdax
LONG Gold
SHORT Fgbl
LONG S+P Breakeven
SHORT Crude Oil
SHORT Fdax

SHORT setup on daily chart if FDAX, Gold, Crude Oil makes a new low hold the short position till the close or weekly target

Tuesday, September 25, 2012

25th September Tuesday

Today I learned to also use intraday 30 min DP areas for reversals.

SHORT S+P
SHORT Gold
SHORT Crude Oil
LONG Nasdaq
LONG Gold
LONG Crude Oil
SHORT Fgbl
LONG Fdax
SHORT Fdax
LONG Fgbl
LONG Crude Oil
LONG Fdax
SHORT Fdax

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.