My thoughts and reasons about todays future trades
I will try to explain some of my trades of today. I traded three times with a few points gain in total. One loser, one winner and one stopped out at entry after being in a small win position. The FDAX chart shown below is a Sierrra chart based on Interactivebrokers data. Shown is a 15 min candlestick chart with only the 50 Moving Avarage. I dont use indicators.
The FDAX opened higher with a gap. After achieving the high at 4960 very soon after opening the market reversed to test the openingsprice. I was very keen to watch this happen because one of my trade set ups is when on monday the markets reverse and go through the opening I almost trade this blindly.
Also this time: my first trade went short (late in the day) at 4985.5 just below the opening price. The opportunity of a (partial) closing cap a reason going short at thsi stage. The high at 4940 of the last weeks friday is a problem: it could and should act as a support lying very closely to my entry price. Another problem was the hourly 50 Moving Average at 4938 (not shown) backing up as support. Trading is not rocket science so I went for it. The entry was terrible, hesitating just a few seconds which gave me 4938.5 in stead of 4940 of the opening (slippage). My stop was at 4945 and I was stopped out at -6.5 points.
The second trade was done almost an hour later short. After the position gained a few points It turned at the 50 MA. In trade I then realised hat the setup at the 50 MA would have been a buy signal for me when not already short and I closed at entry
The third trade again was done at the 50 MA. The candle of 15:15 just opened above the support MA and closed bullish with nice white candle. I decided to go long at the next candle opening at 4945.5 which gave 10 points very quickly. I stopped trading for the day. .
daytrading
FDAX
The FDAX opened higher with a gap. After achieving the high at 4960 very soon after opening the market reversed to test the openingsprice. I was very keen to watch this happen because one of my trade set ups is when on monday the markets reverse and go through the opening I almost trade this blindly.
Also this time: my first trade went short (late in the day) at 4985.5 just below the opening price. The opportunity of a (partial) closing cap a reason going short at thsi stage. The high at 4940 of the last weeks friday is a problem: it could and should act as a support lying very closely to my entry price. Another problem was the hourly 50 Moving Average at 4938 (not shown) backing up as support. Trading is not rocket science so I went for it. The entry was terrible, hesitating just a few seconds which gave me 4938.5 in stead of 4940 of the opening (slippage). My stop was at 4945 and I was stopped out at -6.5 points.
The second trade was done almost an hour later short. After the position gained a few points It turned at the 50 MA. In trade I then realised hat the setup at the 50 MA would have been a buy signal for me when not already short and I closed at entry
The third trade again was done at the 50 MA. The candle of 15:15 just opened above the support MA and closed bullish with nice white candle. I decided to go long at the next candle opening at 4945.5 which gave 10 points very quickly. I stopped trading for the day. .
daytrading
FDAX
posted by Carlo Giuntoni at 8:48 PM
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