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.


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

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