Tuesday, May 24, 2011

Saturday, May 21, 2011

Trading Plan: Going Long above fridays closing price



Always choose to go long the instrument that is already above friday closing price.

Tuesday, May 17, 2011

Tuesday, May 10, 2011

Saturday, May 7, 2011

Trading Plan: Swing Trade Entries


Usually I enter on daily charts
  • long above the high of prior day if there is at least the width of the prior days range left till a new swing high
  • long below prior days low in an uptrend (price above 50 sma)
  • short above prior days high in an uptrend (price above 50 sma)
  • short below prior days low (on negative days) but this is not really a swing entry but good for at least 20 ticks
Another way to enter to enter long is buying at a short target.
As you can see on the screenshot the nasdaq moved down the short target (2370) on 4th of may and on the 5th of may did not move any more lower, in fact it bounced off the double bottom, so I entered long and another long position after the price bounced off the 50% level (2390) of the entire down swing.