LTWT - Day Trading Market Review

Discussion in 'Journals' started by LTWT, Jan 7, 2011.

  1. LTWT


    Intro to the LTWT (Keep It Simple) Trading Approach

    Learning to trade can be difficult when there are so many different ways to trade, strategies, approaches, and market instruments. Often people get information overload because of all the information available on the internet and in books. I can empathize with those who are just getting started and want some direction.

    One of the most important keys is finding a strategy that fits your goals, personality, and comfort level; otherwise you will never have the confidence necessary to trade the strategy successfully. I have tailored a market approach to fit my personality, goals, and comfort level, and I have put together a series of videos to share this approach with you. I keep things simple with my strategy because it can be easy to over-complicate trading. I find value in learning from others and sharing what I know because we all have different perspectives and ideas. We can learn something from everyone to apply and tailor to our own techniques and improve on our trading approach.

    I like to trade the Emini Russell 2000 and Emini S&P 500; however, I don't like waiting all day to find set ups or having to watch a live trade for more than a few minutes. Because of this I generally trade a very short-term time frame for the first 60 minutes of the morning. I take the set ups the market gives me and call it a day. Sometimes I have several trades, other days I might not have a single set up... but this has been a great approach for me.

    I use the following indicators:
    SMA (Simple Moving Average) at a period of 18
    SMA (Simple Moving Average) at a period of 6
    TRIX (Tripple Exponential Average) at a period of 3

    Additional indicators used to help confirm trades:
    MACD (Moving Average Convergence Divergence) standard settings
  2. Are you going to post your trades in this journal?