March 25, 2011
- in Uncategorized by schooloftrade
VERY high percentage day trade on Gold and Crude Oil Futures
820am est
– The markets are pretty slow on this Friday morning
– We have 830am GDP news which we are REALLY hoping comes out higher/lower than expected
– We have 955 news on consumer sentiment, which we also know may be the sign of the END of the morning this morning.
– Often we see the LAST news event on a Friday be the line where the weekend starts and the day ends.
830am est
– We see FLAT/as-expected news at 830am GDP.
– With a flat news reading we see the market reaction is sluggish
850am est
– The markets are trading in the middle of their ranges, slow speed, flat trigger lines, narrow ranges, making it hard to feel confident taking trades, so we wait.
– We see the dollar has a side sideways range, which means it can go either up or down
– We focus on the most recent move on the dollar, which is rising at this time, and we see the dollar has more room to rise until it hits resistance at 76.305
1000am est
– The markets are so shaky, that im having hard time feeling confident in letting the trades run
– Make sure we don’t cut those winners early!!
– AVERAGE TRUE RANGE is falling, price ranges get narrow and our job gets harder
How Do I begin my day:
– My auto trader and swing trade computer runs 24/5
– I turn off my day trade cpu to save energy at night
– Start my cpu
– Start a cup of tea, and I read the morning news (what happened in Asia)
– Open NT7 first, nothing else
– I repair the DB (out of habit NT6.5)
– Connect to the market
– Open my first workspace, let it load 100%
– Open my 2nd workspace, let it load 100%
– When youre done trading
– Save the workspace
– Create a back-up copy of the workspace if you need to
– Close your workspace
– Close down NT7
– Then when you RE OPEN the NT7 tomorrow it will open with ONLY the control center.
Click Here To Review Our Automated Trading Results From This Morning
