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can you please explain me what are your criteria determining your time of entry (if it will be 9:30 or 10:00, or 10:30, or 11:00 for example)? Do you have some standard rules, or just feeling according to the course of the market?
thanks,
alex
Can you help answer these questions from other members on NexusFi?
It comes all from a written trading plan. For most of the weekday behaviour I wrote the patterns down that showed
up most often. It is out of a mix of previous day data, Ichimoku cloud, gaps, Last of month, IFO data, FED or ECB
decision and upcoming holidays.
The Initial Balance (IB) of the trading day is the base to decide in which direction the trade will go.
But don't get trapped: the IB does not show the direction itself: it depends on the weekday and much more.
SO:
In a certain situation as prescribed - ALWAYS the according entry/exit rule will be applied.
The rule plan is quite long...
After a crazy Thursday with second stop on both chinese stock exchanges we could see
some flexibility in the Dax. First a heavy down and suddenly a relief...
But for tomorrow friday I do not see any argument for the bulls.
Be prepared to see some more melting prices before weekend starts.
While I am bearish myself, I suddenly see a lot of bearishness in the markets ,i.e. high put-call ratio, Soros comparing this to 2008, lots of technical indicators hitting oversold levels, etc. It seems like everyone wants to be short right now, which means that short-term we may see some upside.
I have the benefit of posting this after seeing the European markets open today, but I was already hoping for a bounce yesterday. May give me the perfect opportunity to add to my shorts heading into the weekend.
Anyway, great result for 2015 and wish you the best for 2016.
Even this morning started higher - I have to say that some "false moves" are part of the game.
Today I had first to wait for the first IB 9 to 9:30 move to take the best rule for my trade.
And it came out as thought: short.
As the trade has not arrived its final exit - we need to be patient.
Tenor seems short for the next period. NOT to forget about the
weaker numbers for 2015 from the bigger companies made public in
the next few weeks anyway.
Do you have any special rules regarding consecutive walzers?
Just noticed that the bar which invalidated this mornings first pattern very nearly completed another setup (~18 points and not 20). Had it been over 20 would you have flipped straight into another long?
I invented now the "Babushka-Walzer" for such rare occasions.
Which means to follow the second Walzer too for another hour - and from then turn short for one hour.
Today that would have worked and of course given more points - all legs positive
