Day Trading Blog: 3th November Thursday

Thursday, November 3, 2011

3th November Thursday

LONG 10 am trade on Fdax: 4.86 R

LONG 10 am trade on GOLD: 4.6 R

SHORT Reversal trade on Fdax: 7.28 R

LONG Engulfing trade on S&P: 3 R

LONG Breakout trade on Fdax: 11 R

LONG Breakout trade on Gold: 5 R

LONG Trend trade on Fdax: 4 R
LONG Reversal trade on Fdax: 8.07 R
LONG Reversal trade on CL: 5.92 R

2 comments:

____________ Zaca ____________November 3, 2011 at 3:47 PM
Hi,congratulations for the results. Amazing.
My name is Nuno, I'm from Portugal. I have followed you for some time and I'm trying to understand your methods and entry´s criteria. I only operates at the opening of the ES and Eur / Dol. Regards
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daxdaytraderNovember 3, 2011 at 5:52 PM
hi zaca i basically see setups on the 30 min and daily charts
so any time the s&p is close to prior days high or low or close or 50%
i am trying to make an entry on the lower time frame.
as you might know a trend starts with a higher low and a higher high on the 1 min chart, I try to get in at the new higher low and looking forward for a trend continuation. whats amazing that every day, even on bearish ones, there is at least a small uptrend after 10 am eastern time, hoping this information is helpful for your trading ;-)
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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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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.

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