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chessracer trading
Friday, January 23, 2009
Trading Journal; the beginning
I have started up a new blog for the purpose of tracking my trading performance.
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Trading Goals
10 pips/day profit
Trading Rules to Live By
TICK: this is your main indicator. Fade divergences between TICK and price action.
Use TICK + Relative Volume in 1st hour to determine trending or range-bound action.
Rangebound rule: Fade TICK extremes expecting pullback to VWAP
Trend rules: enter in direction of trend on pullbacks in TICK.
Trade 3rd and 4th bounce in consolidation patterns. On steeply inclining/declining patterns only trade in the direction of the pattern.
DELETED: Trade the breakout on consolidation patterns
Enter trades on 1min RSI trendline breakouts
Check TICK/TRIN/5min/15min SPX charts prior to trading
Enter trades with a minimum 1.5/1 reward/risk ratio
Don't chase the trade; let it come to you
Don't leave a trade unattended without a stop loss of 2 points
Don't increase the Stop Loss
Stop Loss at 2 /ES points
Followers
Blog Archive
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2009
(8)
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February
(2)
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January
(6)
To Trend or Not To Trend
The /ES trade from 4 to 4:15PM
2-contract trading idea
Weekend Update
Trend Day rules
Trading Journal; the beginning
About Me
Mr. Pooks
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