Daily Archives: May 11, 2012

Day Trading Tactics! (by mmTesla)

By -

This post is going to serve as a primer for future posts detailing day trading tactics/analysis, homework, finding your set-ups and eventually breaking down given set-ups that occurred throughout the week. I think the natural progression of posts will be best suited for everyone. This will be geared solely toward the ES, though the same tactics apply damn near everywhere.

First lets examine what you need to pay attention to:

Opening range– Often referred to as the OR, IB or opening 30. Basically it’s the first 30 minutes of market action during regular trading hours.

Why is it important?

Read about the initial balance and opening types in Mind over Markets, or the PDF called 10 o’clock bulls.

What to focus on?

The high and low and of course the application of this context (get to that in later posts). The opening 30 gives a heads up as to who is in charge, if we go to the high of the OR and we get a reversal printed, that means a hell of a lot more than a reversal just occurring somewhere. Again if you read those two books it’ll become abundantly clear.

(more…)