Wednesday 13 August 2014

MP for Context, Bar Chart for Timing

Today's DAX trades worked according to Hoyle. These are the type of very high win rate trades that are needed for CP. I was done for the day for discretionary trading within about an hour or so.

DAX opened with a drive up. Job of the electronic local, like the floor local,  is to fade these moves by offering liquidity. We get paid well for this service. The bar chart provided the tining in the zones identified by the Profile. Market then retreated back to the 33EMA where accumulation began which told me to turn the position around. The subsequent pop got me out at a nice profit.

The book is going better now so hopefully I'll have it out before the new year.



3 comments:

  1. jenrique42

    tendria que explicar, algun dia lo que dice usted de:

    - COMPRAR EN LA VENTA

    Y

    - VENDER EN LA COMPRA

    porque por lo visto se da mas de la cuenta esta circustancia

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  2. Did you sell the 9110 VAH? Were you stopped out, or did you double down at the 9135 area?

    Mike

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    Replies
    1. No Mike. The bar chart is for the timing. It was a drive open. If I hadn't used a bar chart then I would have sold the VAH and doubled down. Stops are bad. If you need such tight stops then your size is too big.

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