Day Trading Blog: 24th April Tuesday

Tuesday, April 24, 2012

24th April Tuesday

LONG Re-Entry on Dow 7 R
LONG Reversal at Prior Session Close on Crude Oil 4 R
LONG Re-Entry on Dow 2 R
LONG Re-Entry at 50% on Dow 5 R
SHORT Re-Entry on Nasdaq 4 R
LONG Re-Entry at 50% on Gold 4 R
SHORT Re-Entry at 50% on Fdax 3.5 R
LONG Re-Entry On Crude Oil 5 R
SHORT Re-Entry at 50% on Fdax 5 R
SHORT Reversal on Fdax 8 R
LONG Re-Entry on Fdax 1 R
LONG Re-Entry on Fdax 2 R
LONG Re-Entry on Gold 3 R

Outside Gap Up on Dow but long trend should continue as the gap was filled after 9 am
Already LONG on Gold with Target 1641 / 1649
Already LONG Crude Oil with Target 103.67

Dow or S+P Confirmed had a re-entry signal after the bounce of the 50% level:

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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.