you know most days dont trend right ?
FoN
give me simple day trading method that works?
- Thread starter chipmunk
- Start date
you know most days dont trend right ?
FoN
My plan is based in trend days, is right, is when it works better.
Breakouts globex high or low, only few days works, yesterday worked, today surprisengly too.
But I have an statistic of about 100 days ago, day by day, and 1 of the 3 principal options always works:
- Buy sell retrace fib from globex low to high in 15m charts
- Buy sell retrace to the 20 ma in 15m chart
- Buy sell breakouts of the globex high or low, or the opening range too.
With my method 1st target hit move stop up and trail I am consistent in my morning trade.
Breakouts globex high or low, only few days works, yesterday worked, today surprisengly too.
But I have an statistic of about 100 days ago, day by day, and 1 of the 3 principal options always works:
- Buy sell retrace fib from globex low to high in 15m charts
- Buy sell retrace to the 20 ma in 15m chart
- Buy sell breakouts of the globex high or low, or the opening range too.
With my method 1st target hit move stop up and trail I am consistent in my morning trade.
I don´t know what you really mean, but in trend days I can catch good trades with this plan, and to me a good trade is a winner that brings me benefits above what I risk.
So a trade that can make an average of more than 20 points per car traded, that is what I risk is a good trade to me.
When the market don´t colaborate with my plan, with a 1st target so close and moving my stop up as soon as possible I lessen my risk pretty soon, I think.
What is your plan?
So a trade that can make an average of more than 20 points per car traded, that is what I risk is a good trade to me.
When the market don´t colaborate with my plan, with a 1st target so close and moving my stop up as soon as possible I lessen my risk pretty soon, I think.
What is your plan?
i meant this:"1st target 10 points YM to lessen the risk, I use 20 points stop".in the long run the bigger stops then the targets wouldn`t be consistent.trend days are about 10% of the time(again,in the long run).
agreed
if you are managed - very good for you.
to trade open and close hours,in the middle alerts on breakouts where i see if i agree with them.hard stops,picky with entries and the targets depend on what is offered at that parcticular moment.
thats it.
Today no trend, so all my setups didn´t worked.
When advance decline are narrow better to stay out of the market, except if you are a scalper and you use to trade for a few ticks.
To me only 1 trade: bought the fibonacci retrace from globex low to globex high, at 12440, was stopped out with 20 points loss per car, the stop that I always use.
Done for the day, tomorrow another day!
Snake, sorry for not responding sooner. I have not traded any of those, let alone during Asian session, so I'm not a good one to ask.
My common sense says that Euro might be better during European hours, and gold has pit trading (Chicago? I don't remember) so I would want to trade then. NKD is Nikkei right? That seems like the one that would make the most sense, or if CME has a HangSeng alternative. Or foreign exchange pairs based partially somewhere in Asia.
I don't have any strategy for Asian session, and absolutely would not do anything like open range breakout for Forex or futures trading Asian session. I have traded ES during Asian session a couple times, when I first started. It was stupid, and after I did it, I thought hmm, well that was a stupid thing to do. I filed it under gambling and put it in a locked file cabinet in my head.
Have a good weekend!
My common sense says that Euro might be better during European hours, and gold has pit trading (Chicago? I don't remember) so I would want to trade then. NKD is Nikkei right? That seems like the one that would make the most sense, or if CME has a HangSeng alternative. Or foreign exchange pairs based partially somewhere in Asia.
I don't have any strategy for Asian session, and absolutely would not do anything like open range breakout for Forex or futures trading Asian session. I have traded ES during Asian session a couple times, when I first started. It was stupid, and after I did it, I thought hmm, well that was a stupid thing to do. I filed it under gambling and put it in a locked file cabinet in my head.
Have a good weekend!