February 27, 2012
- in Uncategorized by schooloftrade
Day trading strategy using price wedge and dollar index correlation for +100 ticks
Our day trading strategy on a
Monday morning is very specific and it really has NO TRADING involved at all. That’s correct, our most important thing to
do on a Monday is to be patient, get back into the rhythm of the week, and stay
focused on after 930am EST taking the highest percentage trades we can find
according to our plan. This morning we
began our week with patience and our day trading strategy earned over 115 ticks
of profit.
Monday morning is very specific and it really has NO TRADING involved at all. That’s correct, our most important thing to
do on a Monday is to be patient, get back into the rhythm of the week, and stay
focused on after 930am EST taking the highest percentage trades we can find
according to our plan. This morning we
began our week with patience and our day trading strategy earned over 115 ticks
of profit.
 |
| Joe’s Trades Today |
The week began with very sloppy markets on a Monday without news before
930am EST. We had the dollar index
trending higher but in a narrow range without any real market personality to
work with. By 900am EST the dollar index
had tested a key level of resistance and we knew that would be when we got our
first opportunity to trade this morning.
930am EST. We had the dollar index
trending higher but in a narrow range without any real market personality to
work with. By 900am EST the dollar index
had tested a key level of resistance and we knew that would be when we got our
first opportunity to trade this morning.
 |
| Dollar Index Day Trading Strategy |
The dollar index day trading strategy included 3 easy clues today, and
we reviewed these together in our trade room at 730am EST this morning. First, the dollar index was trading higher in
a short term trend, so we looked for selling opportunities first, using the
negative correlation. Second, we had key
resistance with a trend line overhead that we knew would be a good place to
look for trades this morning, and third we knew there was very little market
personality to give us confidence, so we had to be patient.
 |
| Crude Oil Day Trading Strategy |
Our day trading strategy for crude oil included the dollar index
correlation along with a very easy price structure clue, which we have always
loved trading, and when we see it show up we get confidence and excited because
it SO easy to predict. First, we had an
inside day on the crude oil along with a price wedge and when we see these two
combined we know the market is trying to tell us something. Fade the breakouts, buy the lows, sell the
highs, those are the reactions we wanted to take when we executed our day trading
strategy in real time this morning and that’s exactly what we did to earn the
majority of our income today in crude oil trading.
correlation along with a very easy price structure clue, which we have always
loved trading, and when we see it show up we get confidence and excited because
it SO easy to predict. First, we had an
inside day on the crude oil along with a price wedge and when we see these two
combined we know the market is trying to tell us something. Fade the breakouts, buy the lows, sell the
highs, those are the reactions we wanted to take when we executed our day trading
strategy in real time this morning and that’s exactly what we did to earn the
majority of our income today in crude oil trading.
Just like we thought, after 1030am EST the markets were back to slop
and chop. We got a window of opportunity
from 930-1130am EST exactly what we prepped for this morning at 730am EST when
we began, and another great day of profits in the books!
and chop. We got a window of opportunity
from 930-1130am EST exactly what we prepped for this morning at 730am EST when
we began, and another great day of profits in the books!
Did you miss the
action in today’s live trade room?
Want to learn how to trade like this with me every day? Our advanced members have lifetime access to
our trade room, and membership includes everything you need, including charts,
data, indicators, tech support, and automated trading strategies.
action in today’s live trade room?
Want to learn how to trade like this with me every day? Our advanced members have lifetime access to
our trade room, and membership includes everything you need, including charts,
data, indicators, tech support, and automated trading strategies.
Don’t miss tomorrow @
730am EST when we post our morning prep on this blog and get the day started
again for another profitable day of live trading with our members!
730am EST when we post our morning prep on this blog and get the day started
again for another profitable day of live trading with our members!
===============================================================
Everyone loves transparency, My trading statements are available
on request
on request
===============================================================
