Day Trading Blog: 9th March Friday

Friday, March 9, 2012

9th March Friday

LONG Re-Entry on Gold 3 R
LONG Reversal on Gold 18 R
LONG Re-Entry on Crude Oil 7 R
SHORT Re-Entry on Gold 3 R
LONG Re-Entry on Fdax 2 R
SHORT Breakout on Gold 4 R
SHORT Reversal on Fdax 5 R
LONG Reversal on Fdax 8 R
SHORT Re-Entry on Fdax 5 R
SHORT Reversal on Crude Oil 8 R

SHORT Holy Grail Setup from 1706.8 to 1681 on Gold
AND LONG Holy Grail Setup from 1681 to 1710 on Gold
Potential SHORT Holy Grail Setup below 12891 on YM

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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.

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.