MONDAY RECAP & TUESDAY TRADE PLAN
TUESDAY 3RD OCTOBER 2023
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MONDAY RECAP
Profit - $205.08
Capital - $5205.08
Starting Capital - $5,000
ROI - 4.1%
Monday 2nd October 2023
ASX Change: -15pts
Day Futures Change: +9pts
Overnight Futures Change: -85pts
S&P Move: -23pts
AUSTRALIA 200
Followed trade plan and applied 30pts stops to give some room given large gap UP on open. These types of gaps ‘fast track’ the expected move, so patience needed.
UK100
Long at open. 90% of large S&P gap ups will result in UK finishing first session higher. Failed. This was the largest first session drop in my recorded data but managed risk well with stop loss under previously recorded lows for this setup.
SPX500
Large Gap up’s have minimum 20pts to day low, average 43pts, historically, before rallying to finish above market open price (1am). Todays day low 53pts. Traded very conservatively, taking only ~18, & 38pts on short positions. Long again at 5am given expected rally has not yet eventuated. Left plenty of the table but overall moves as expected.
AUS 200 CASH MORNING OUTLOOK
HISTORICAL PARAMETERS
TRADING PLAN (Pending Open Gap / Pre-Market moves)
RBA. Difficult day today with no clear historical trends. Expecting 50+ day range.
20pts intra-day low would be LIS for any hope of a rally on RBA days. Will be patient and play to the expected range, and also my AUS200 algorithm which for some unknown reason has 80%+ success rate on RBA days.
Cheers
Marto
This is where my strategy is different from most. I am only looking to capture large moves. So my frame of reference is always around the conditions required for those large moves to happen.
As you saw yesterday, the area I got stopped out at would have been an excellent long buying opportunity, but for me, that cancelled out any hope of a significant rally, using the 10am open as a reference point. So longs held no interest to me from that point.
Sorry mate, I just started using as well. Line in Sand.