Day Trading Blog: 23th April Monday

Monday, April 23, 2012

23th April Monday

LONG Reversal on Dow 3 R

LONG Re-Entry on Crude Oil 8 R

SHORT Re-Entry on Nasdaq 5 R

SHORT Re-Entry on Dow 5 R

LONG Reversal on Gold 6 R

SHORT Re-Entry on Gold 17 R

SHORT Re-Entry on Fdax 5 R

SHORT Re-Entry on Gold 20 R

SHORT Re-Entry on Fdax 11 R

Inside Gap Up on Dow long trend should continue till prior session high and then maybe a correction down till prior close

Exiting at targets rather than an automated ATR trailing strategy seams to work better:

Did not trade this re-entry as I was already short, although the next target was 50 points down:

Did not trade short gold as I was thinking the volume is too low:

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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.

There is risk of loss in trading and investing. All trade decisions are your own sole responsibility.