Monday, April 4, 2011

Sharing My Way Of Trading


I saw 5min charts, daily charts, ticks charts, and volume charts. I looked at

Green Bar Momentum = green bar mean big volume, high chance of big swing. Tend to hold the trade and entering on pullback aka. directional trade. No Green Bar means to fade with smaller Profit Target.

Micro Green Bar = green bar on smaller chart. Showed good place to fade the movement. Good if no bigger green bar.

Support Resistance = Pivot, Prev Hi/Lo, Opening, 5min expansion range. Also a navigator to fade, breakout and profit target. Quite hard on chop sideways market, but powerful tools in big swing trade. Use it based on condition.

5 min EMA20 = Magnet on slow market. Tend to chop in this area. Used for pre-caution.

Dynamic Stop Loss = Rising/Lowering the Stop Profit based on what price did. Make it tighter if micro green bar forming on top/bottom.

Strategy =
No green bar: tend to fade new high/low based on Micro Green Bar and sometimes *censored* pattern and key reversal. Also looking for Support Resistance. Profit Target usually based on fixed around 50 ticks or new high. Depend on how market did.

Green Bar:Green Bar can mean two things, big reversal or continuation. Carefully watch for price action moment after green bar. Every element very important in this phase cause big movement likely to come.

Usually I trade lightly when there's no green bar. I target 50-60 ticks, sometimes 30 ticks. If I get that, I will wait till there's green bar and I will resume trading. If not I will increase my screen time.

Then I have to workout with my discipline and patience. I made checklist form to evaluate realtime how I trade. More X means I trade recklessly. Also added my view to eye the price.



I also will made improvement for the journal. So far so good.

Monday Result:

3 comments:

  1. De' I like the checklist, what ever keeps you discipline to your edge is awesome! Good trading.

    ReplyDelete
  2. Thanks Duane,

    U saw u had good profit on swinging. Good trading too :)

    Maybe you can share ur checklist too, learning from each other is great thing.

    ReplyDelete
  3. My checklist is very simple, I check yes or no next to each point, its quick and easy, I'm less likely to blow off doing it for every trade.

    1. Planned Trade (15pts)
    2. Money Management/Max loss identified (15pts)
    3. EMA utilization (20)
    4. MACD/HISTO (15pts)
    5. DMI (10pts)
    6. Entry/Stop off EMA/Technicals (15pts)
    7. Pivot Points Utilization (5pts)
    8. Time Frame (5pts)

    ReplyDelete