Going over previous trades in reflection to new indi rules for trading, also reflecting on bad trades and why were they bad what did I fail to see... We now know that we get to see the weather forecast with our smTMMS Oscillator (BIG THANKS TO @SWINGMAN) that will certainly relieve the 'uncertainty' stress going forward.
However I wanted to share couple of points which I've mentioned before, 9am German market open spike.... [trading the 15min] if you are not practicing correct position sizing you most likely would have been stopped out here (one must keep an eye on the 5th min chart RSI & MACD line signals - to exit trade until re-confirmation of continued trend). This spike in the opposite direction at 9am was 63 pips!!! dont trade against the MACD trying to go up and down with the 1min. IMHO never trade against the mACD - "smart money" it gives us momentum and trend.
This idea of trading the DAX uses its volatility therefore with that said you should not be sucked into trading low volume times - we must stick to high probability setups that come in certain market times as previously mentioned .... lesson from Friday *because I made a mistake - was feeling overconfident* from 11am to 14:30 is mostly low volume therefore ranging / choppy PA between a support and resistance zones going up and down for a few hours... remember we trade entrys when there proves to be enough juice / histogram bars to breakout - "momentum", it must be there. so dont get sucked in to the markets game while chasing pips outside of the game plan -unless ofcourse that is your strategy. Friday I gave back 50pips - but those were school fees, hopefully you learn from me and not pay them too lol....
Like one of Robinhoods fav quotes: "What beat me was not having brains enough to stick to my own game, that is, to play the market only when I was satisfied that precedents favored my play." — Edwin Lefevre
Times for favored conditions: 0800 - 11am ; 15:00 to 1800 ; 20:00 - 2230 there should be good setups to catch during these times.
Couple people have said they cant handle sitting and looking at a screen so try trading 09:00 to 11am and maybe 20:00 to 2200. Good luck!
However I wanted to share couple of points which I've mentioned before, 9am German market open spike.... [trading the 15min] if you are not practicing correct position sizing you most likely would have been stopped out here (one must keep an eye on the 5th min chart RSI & MACD line signals - to exit trade until re-confirmation of continued trend). This spike in the opposite direction at 9am was 63 pips!!! dont trade against the MACD trying to go up and down with the 1min. IMHO never trade against the mACD - "smart money" it gives us momentum and trend.
This idea of trading the DAX uses its volatility therefore with that said you should not be sucked into trading low volume times - we must stick to high probability setups that come in certain market times as previously mentioned .... lesson from Friday *because I made a mistake - was feeling overconfident* from 11am to 14:30 is mostly low volume therefore ranging / choppy PA between a support and resistance zones going up and down for a few hours... remember we trade entrys when there proves to be enough juice / histogram bars to breakout - "momentum", it must be there. so dont get sucked in to the markets game while chasing pips outside of the game plan -unless ofcourse that is your strategy. Friday I gave back 50pips - but those were school fees, hopefully you learn from me and not pay them too lol....
Like one of Robinhoods fav quotes: "What beat me was not having brains enough to stick to my own game, that is, to play the market only when I was satisfied that precedents favored my play." — Edwin Lefevre
Times for favored conditions: 0800 - 11am ; 15:00 to 1800 ; 20:00 - 2230 there should be good setups to catch during these times.
Couple people have said they cant handle sitting and looking at a screen so try trading 09:00 to 11am and maybe 20:00 to 2200. Good luck!
Attached Image (click to enlarge)
The more you learn, the more you see
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