Registered: Feb 2008
09-12-12 11:42 AM
I am going to post here my trades with some comments. I am not willing to write pages about the way I trade but simply tell on what, in my view, the trade is based on. This thread is not a signal provider and those who use it as such do so at their own risk. Keep in mind that some risks are easy to take or to absolutely avoid depending on how you're capitalized.
Me: I am a full time independent trader since 2006, mainly on FX, ES, oil and gold.
The way I see it, it's more like a mindset then a strategy. I don't believe in strategies; anyway the broad idea is below:
1: Every weekend and Mondays I adjust my mind on the broad picture after reading researches, articles and checking global macro data and forward positionning. From this I decide if I am bullish, bearish or neutral on risk or on any given instrument or currency (ccy).
2: Weeky I spot where are the big tech levels, S/R, big fibs, 200DMA.
3: Then I place my pending core orders. No stop, no target. or I cancel /close positions not in line with my forecast.
ADDING TO OPENED CORE POSTIONS
1: Every trading day in the morning I make up my mind on the prevailing sentiment/ Risk on/off, wait and see, if it is going to change. And what the market is focusing on (be well informed).
2: I spot intraday tech levels, liquidity distribution and stay informed on participants positioning (specs, real money ..).
3: When I know if I am going to add to a core position, I decide on the timing by knowing what is on the path: possible catalysts, data releases,events, press conferences, meetings, fixing, opening/closing bells.
4: Then I place my pending orders with a target (partial or full) and a stop all this based on liquidity distribution (stop clusters and orders flow dynamics), and catalysts (events). This to get quickly away from my position when triggered.
5: I f it happens that some events can modify my core views, I cancel/close the concerned positions.
Feel free to comment but please understand that I will keep it short and won't answer questions tho I will explain why I am taking this or that position and seeing the market that way.