February 29, 2012
- in Uncategorized by schooloftrade
Dollar index day trading strategy works again for +245 ticks of profit
We began this morning with a day trading strategy that used economic news, the dollar index, and simple price
structures to plan our trades ahead of time and then we sat back and waited
for price to come to us and we traded that plan perfectly. We didn’t have ALL winning trades today,
that’s not our goal, we executed the plan and we made 245 ticks of profit
trading all four of our favorite markets, Euro, Crude oil , E-Mini-Russell and
Gold futures.
structures to plan our trades ahead of time and then we sat back and waited
for price to come to us and we traded that plan perfectly. We didn’t have ALL winning trades today,
that’s not our goal, we executed the plan and we made 245 ticks of profit
trading all four of our favorite markets, Euro, Crude oil , E-Mini-Russell and
Gold futures.
 |
| Dollar Index Day Trading Strategy |
The dollar index gave us some
easy clues this morning regarding the short term trend and market personality. First, we knew about the GDP news @ 830am EST
today so we expected things to be a little sloppy at first, and we know that
2pm EST today was Beige Book so we knew our time was limited, get in and get
out. Second, the dollar index was
trading in a narrow sideways range with a price wedge right above it. These two clues told us that we needed to
look for both buying and selling opportunities along with to expect fake-out
breakouts this morning on the markets we are trading.
 |
| Crude Oil Day Trading Strategy |
Crude oil futures day trading
strategy was quite simple, and very similar to the strategy we have already
used this week to earn over 300 ticks of profit on Monday and Tuesday. This morning we have a price wedge and inside
trading day, big clues, telling us to fade-the-breakouts selling as price rises
and buying as price falls. We saw price
move outside of the price wedge and we bought it going back up for some easy
profits.
strategy was quite simple, and very similar to the strategy we have already
used this week to earn over 300 ticks of profit on Monday and Tuesday. This morning we have a price wedge and inside
trading day, big clues, telling us to fade-the-breakouts selling as price rises
and buying as price falls. We saw price
move outside of the price wedge and we bought it going back up for some easy
profits.
 |
| Euro Fast Track Trade |
The euro was another great trade
today, and we had the euro nailed when it broke new lower-lows below the
PLOD. Remember, when I’m inside the
range from yesterday I am going to buy the PLOD and sell the PHOD but when
price moves above PHOD I need to buy pullbacks and when it moves below PLOD I
need to sell retracements. Our last
trade of the morning today was a retracement short when we broke below the PLOD
and we called the trade with exact entries, stops, and targets over 10 minutes
ahead of the entry so EVERYONE could trade along. This trade was an example of the fast track method.
today, and we had the euro nailed when it broke new lower-lows below the
PLOD. Remember, when I’m inside the
range from yesterday I am going to buy the PLOD and sell the PHOD but when
price moves above PHOD I need to buy pullbacks and when it moves below PLOD I
need to sell retracements. Our last
trade of the morning today was a retracement short when we broke below the PLOD
and we called the trade with exact entries, stops, and targets over 10 minutes
ahead of the entry so EVERYONE could trade along. This trade was an example of the fast track method.
 |
| Gold Day Trading Strategy |
Gold futures was our big winner
today earning +75 ticks, and we really never saw it coming other than our usual
day trading strategy which used a price wedge.
When gold futures tested the lows of the price wedge we quickly
looked to BUY the lows, and when those buyers failed, and we made new
lower-lows below the PLOD and below the price wedge the dollar index also moved
higher which told us to get out of the long position and into a short position,
which we did. 30 second after we got
into the short position on gold the market fell quickly, filling all of our profit
targets for +5/+10 and +50 ticks on the way down, netting us $750usd on a
single trade live in our trade room.
today earning +75 ticks, and we really never saw it coming other than our usual
day trading strategy which used a price wedge.
When gold futures tested the lows of the price wedge we quickly
looked to BUY the lows, and when those buyers failed, and we made new
lower-lows below the PLOD and below the price wedge the dollar index also moved
higher which told us to get out of the long position and into a short position,
which we did. 30 second after we got
into the short position on gold the market fell quickly, filling all of our profit
targets for +5/+10 and +50 ticks on the way down, netting us $750usd on a
single trade live in our trade room.
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
===============================================================
