The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at toddstrade@gmail.com
I am always open to questions, comments, or suggestions on how to improve this blog.


Showing posts with label OTD. Show all posts
Showing posts with label OTD. Show all posts

Wednesday, April 10, 2013

04/10

today's trade

A key for the above chart to define the horizontal lines and dots.  For further explanation, see this link:  

Opening Swing and first hour-

Breadth -


  Silly scalpy trades most of the day because I messed up the morning.  Your head fills with all sorts of stupid reasons like; "Well I'm not going to buy into these highs", whatever.  I'm not here to position trade, I'm here to DAY trade.
  The Opening type was easily recognizeable (Open-test-Drive, OTD), and the first three 15-min bars (first two really) were clearly strong and indicative of a breakout.  The MO is to, at the very least, get long after those first 3 15-min bars showing strength, and if your position is not positive over the next 30-45min then your premise might be wrong.   I scalped more than I should have instead of holding through to the 1pm (Central) hour when you can always expect a market shakeout before the final 45-minutes of the day.
  Blue arrows are entries, black are exits.  I even attempted a short!? (obviously not jiving, although I did nail the 'top' I ended up scratching the trade when I could have gotten 1.5-points out of it).


Volume profile - trend day (short covering P-shape)

ES with globex