Thursday, October 10, 2013

S&P Futures Trading Plan

What follows is what used to be my trading for a long time trading the ES(S&P) Futures

Further explanations to come


Premarket:

-Mark start of regular session

-Notice news times

-Prior day HL

-Set the 3 charts(Ticks, 610, 1300)


Opening:

-Gap: which direction? quantify?

-Look at volume

-Look at swing volatility(pre and opening)

-Attention to 10:00 and 10:30


Trade execution:

-Minimize risk exposure(time)

-Move sL

-Don't forget orders


The market

-First hour tendencies?

-How much swing selection?

-Ticks/price correlation?


After market

-Log all trades

-Mutual aspects of the trades?

-Criticism on all trades

-Reflection on the day overall

Premarket:
As I don't trade in the premarket, I rarely watch much of the price action there but use some of the time for preparations. I notice news times as I want to avoid trading through these. I mark the start of the regular session on the chart, so that I can clearly differentiate between PA before and after the opening. I set up different charts to get both a longer and a shorter perspective. Lastly I mark the high and the low from the preceding day, more specifically those from the regular session. When I get this done before the open I can simply focus on the actual trading with less interruptions when I'm in the market.

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