10/30/2012 Trick or Treat!

Scary trading ahead of Halloween. I have noticed the ranges have contracted quite a bit on the signals which happens I believe when the market is missing people as it was because of Hurricane Sandy. Still monday was a good trading day and friday was the turn around after wend/thurs being dismal days. Again I can’t predict in the future what days or weeks the market will give me good %s or when they won’t, so I just have to manage my trades best I can and decrease leverage, trades and set a fixed limit on losses when times are leans and increase leverage and trades when they are FAT. I have compensated for when I do catch what I believe to be mAnip in tight market conditions so that may increase my %s as well if these conditions continue.

First trade today on Gold, which I actually traded 2 times. This was the best signal as it was a combination of the 5min and 1 min in sync. When the shorter to longer time frames sync up you will often get a more powerful movement in the predetermined direction.

Here is an example of when my new filters went off telling me to shift the trade 5 mins due to likely choppy/manipulated trading conditions. Tricky the price action was but I was able to catch it and trade it to the correct conclusion which is in they money of course lol!

I don’t often trade USD/CAD but this was the best signal I had of the day beside the next chart on UK Oil. Again not much of a range in this market but still price stays lower between entry and expiry time. As you can see exactly after entry the drop was severe yet still was able to bounce back momentarily but the strong selling was not able to be overcome and ended lower as it should have.

Now here on UK Oil I would say yes it is a better signal then USD/CAD because it had a good range but technically from what you can’t see they were dead even on the signal itself. But Uk Oil wins simply because after the signal the range and price moved solidly with no blips to the inverse in the whole time box.

This GU trade was perfect for 12:05 expiry outside of that would have been just barely ITM as you can see right after exiting the zone it blipped back up to the entry level. Again a tight range of which I don’t really like make it hard to watch the trades come to a conclusion as its like a close football game. I guess for some that is fun but not when you have money on the line lol.

The second signal I had on GU here was a much better trade in the price movement, the range again was very tight, but the actual price move in ticks and direction were solid. As well it was a more clear signal unlike the first one which I could have passed on as it was a bit chancy due to the time factor. All in all a good day with 9 wins 3 losses an improvement even over friday that was just barely above a 70% win rate. In the next article I will continue on with making winning a habit as well as some ideas on advanced risk/trade management. Enjoy!