Friday, August 16, 2013

News-Trading

Sometimes a tradeplan isn’t worth the feeling after.

Trading oil with the knowledge, that dead people in Egypt will spike the oil price is one. There is talk about a lot of unrest today in Egypt and it will affect the oil price. The more horrifying the news, the stronger the spike, so I thought.

Oil  1min 2013-08-16

When I took the entry, Oil was trading up to a resistance, took out the high of the previous bar and I entered long. In hindsight: it was looking good, but early! I should have waited and taken the entry at the Tenkan-Sen (orange).

Then nothing happend, the trade went south with prices supported at the Tenkan, then Kinjun, then 50% H/L. Every tick down was met with steady buying until

 

15:42 image

 

15:44image

Now we see strong buying

15:52image

… Spike … Exit into spike … Plan worked … feel bad

In trading feelings should be left at the door! There is no room for that, but I think, I will refrain from tradeplans involving gruesome acts of violence to provide the fuse for my trade. It’s not worth the bad taste in my mouth after it worked.

Ps.: The times seen on the tweets updated, while I was writing the article. That’s why the numbers on the left and in the tweet itself don’t add up.

PPs.: The 1 minute chart above shows the 15 minute Ichimoku chart. I like the 1 minute for the look inside the formation, but I need the longer timeview on the Ichimoku to trade.

2 comments:

BEST NCDEX Tips said...

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Epic Research said...

This concept of News trading is new to me. I have never heard about it before.