Day Trading Blog: June 2014

Monday, June 30, 2014

Week 27

new high = long trade continues, target doulbe top

new low short trade continues, use this chance to stay short

new high = long trade continues, use this chance next time to enter long

new low short trade continues, use this chance to stay short

risky reverse trade after news

new low short trade continues, use this chance to stay short

new high = long trade continues, use this chance next time to enter long

re-entry on new high = chance for another 50-70 ticks, simply stay long for the entire session

higher low = chance for a long trend, dont get scared by 50% level market bottomed go long

break below 50% line = start of new short move, stay in this trend till it ends

new high gold already in daily long trend = use this chance to go long overnight

new low below 50% range = short trade chance, next time get these 30 ticks

new high = long trade continues, use this chance next time to enter long

Monday, June 23, 2014

Week 26

yes there are retracements, but the bigger downtrend is still on, so no need to exit:

Monday, June 16, 2014

Week 25

hold gold long till end of session:

clear re-entry:

common move after 50% pullback enter long!

placed stop to conservative, got stopped out prior to the downmove, conclusion: expect the retracement so either enter after the retracement or with a more loose stop earlier.

forgot to place a sell stop order, missed the downmove, conclusion: place stop orders to enter the market or re-enter on retracements after the breakout

placed stop to conservative: conclusion place stops at the trendline

common move in gold: it goes down and then up again, conclusion: use this change to enter a swing long trade

clear trend change to the upside, conclusion: dont be scared to trade simply follow the rules and go long on a higher low (50%)

placed the buy stop to conservative, got stopped out prior to the downmove, conclusion: next time better place stops at the trendline

much lower risk at the 50% area around 4.76, conclusion: next time when the direction is clear I will enter with lower risk earlier

forgot to place a buy stop order, conclusion: I missed the up move

Monday, June 9, 2014

Week 24

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.