But back to the unchanged markets. Unchanged overnight means that the markets are in balance. The last two days have been so active that everyone has tired out. I still need to make a quid, so what I do is drop down the size of my range bars or Renko and trade for smaller targets. I expect rotation for a while until something comes along to kick price to a new level, but until that happens I make hay while the sun shines. Typically on days like this I manually add trades to Flo's picks as Flo trades in a very structured manner. I could load a different algo into Flo - it's a simple 2 click step - for this type of market but as it's so quiet I like to have more to do.
Today I went to one of my favourites, the DAX. It's very volatile and moves 100 Euros in a blink. The 2 point DAX Renko is tailor made for this type of trading. I just find a short trend and trade the pullback and take profits quickly. It's all about the context and vision.
The first hour and a half gave 8 trades. It started slowly, but then started trending and I made my day very quickly.
It looks like you traded the first breakout but I thought you skipped that one and start trading on the second?
ReplyDeleteAnon 22:11, it depends on context.
ReplyDeleteI apologize for not fully knowing your method in advance but am curious, are your entries at equal value of the EMA or are you looking for price to enter back in to the direction of the trend by entering on the first bar that closes above the EMA (for a long) in concert with the 6 CCI crossing back above the zero line? Hopefully that makes sense. I can elaborate further if needed. Thank you.
ReplyDeleteAnon 00:40 The methodology is identifying the trend of the chart I am trading and then trading the thrust after the pullbacks.
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