Week 39

Trading Plan: No 50% entries anymore if the prior movement was not at least 50 ticks

Since the method to enter at 50% retracements generates to much (unprofitable entries) I going to restrict the entry method to movements with a minimum of 50 ticks:

Reversal: 

Wait for the market to get to support (prior day low) or resistance level (prior day high)

On support :

• wait for the market to go up 50 ticks, then down 50% of that up movement then enter long
• if the market does not retrace 50% or you missed the entry, go long above a close of the first swing high

On resistance:

• wait for the market to go down 50 ticks, then up50% of that down movement then enter short
• if the market does not retrace 50% or you missed the entry, go short below a close of the first swing low

Trend Continuation:

Market trades inside prior days range (is not near prior days low or high) or at the open outside prior days range or fails to generate entry signals for a reversal trade, I am looking for entries at intradays highs and lows.

On support :

• enter with a limit order at prior low
• if you missed the entry or did not get filled, go long at a pullback or on the breakout (close above) of an range

On resistance:

• enter with a limit order at prior high
• if you missed the entry or did not get filled, go short at a pullback or on the breakout (close below) of an range

Example: From 9 am to 11.30 am no trend happend: no entry was possible with the 50 ticks rule, so either set an alarm if the breakout happens or simply enter at a prior high below prior days close and wait.

Week 38

Trading Plan: Entering above blue bar after double bottoms, higher highs after 1.30 pm

Looking at seasonal charts it makes sense too look for a long trading opportunity after 1.30 pm:

Week 37

Week 36

Trading Plan: S+P Strategy is to sell prior weeks high if the market did not open above prior weeks high

buying last weeks low above the 50 EMA line...

Trading Plan: Highest Reward first

The common 50% entry after news was only possible on the FDAX and on the same time the reward (distance to prior high) was much higher than on the ES, so its better to trade the instrument that has at the same time the better risk to reward ratio:

Trading Plan: Target reached or is there a chance for an re-entry

One way to look at the trading session is to assume the market will take about the same time to build the range of the day than it did yesterday, at least thats what the S and P Futures does most of the days. So when the daily target (the width of the prior days range substracted or added to todays high or low) is not reached yet AND the time it took yesterdays to build this range is not over yet, there is a good change for an re-entry to finally reach todays goal...