Trading the End of the Day Flashcards

1
Q

End of Day Bear Channels are Difficult

It is better to just let it go as there is such little time left in the day making it difficult to scale in, this is a recipe to lose money

A

End of Day Bear Channels are Difficult

It is better to just let it go as there is such little time left in the day making it difficult to scale in, this is a recipe to lose money

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2
Q

End of Day - Swing or Scalp?

A

End of Day - Swing or Scalp?

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3
Q

End of Day Bull Channels are DIFFICULT (9/4/2020 WAS A DAY LIKE THIS)

When in a Channel, it is better to enter with limit orders as it is easier to money do so in channels

A

End of Day Bull Channels are DIFFICULT (9/4/2020 WAS A DAY LIKE THIS)

When in a Channel, it is better to enter with limit orders as it is easier to money do so in channels

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4
Q

At any time there is either a Trend or a TR

Most Traders prefer Trends at the End of the Day

Trends requires only management decisions since it is a swing trade

TR requires repeated entry decisions, since repeated scalps (If sideways in final 30 minutes, usually sideways until the close and LOM)

A

At any time there is either a Trend or a TR

Most Traders prefer Trends at the End of the Day

Trends requires only management decisions since it is a swing trade

TR requires repeated entry decisions, since repeated scalps (If sideways in final 30 minutes, usually sideways until the close and LOM)

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5
Q

Trader’s Equation - Risk, Reward, and Probability

A

Trader’s Equation - Risk, Reward, and Probability

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6
Q

End of Day Sell the Close (STC) Bear Trend

STC is always a sell vacuum test of support, even if support is not obvious

Once the market gets near the Support it is usually best to STOP SELLING CLOSES

A

End of Day Sell the Close (STC) Bear Trend

STC is always a sell vacuum test of support, even if support is not obvious

Once the market gets near the Support it is usually best to STOP SELLING CLOSES

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7
Q

Final Trend often begins MIDDAY

A

Final Trend often begins MIDDAY

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8
Q

End of the Day is a Traders last chance to make money

This is usually the Final hour to 90 minutes

Is there new information about tomorrow that requires price adjustment before the close?

Can you structure a trade that has a reasonable chance of making money

A

End of the Day is a Traders last chance to make money

This is usually the Final hour to 90 minutes

Is there new information about tomorrow that requires price adjustment before the close?

Can you structure a trade that has a reasonable chance of making money

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9
Q

When Trading at the End of the Day Traders should look for BOs and TRs NOT Channels

A

When Trading at the End of the Day Traders should look for BOs and TRs NOT Channels

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10
Q

If the market is in a TTR at the END of the DAY in the Final, especially the final 30 Minutes

It is better NOT TO TRADE

A

If the market is in a TTR at the END of the DAY in the Final, especially the final 30 Minutes

It is better NOT TO TRADE

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11
Q

Most BTC or STC finishes that begin after 3pm or 3:30pm EST are only going to last 4,5 or 6 Bars

The BTC Rallies -Bull Trends always end at RESISTANCE

The STC Selloffs-Bear Trends always end at SUPPORT

It is usually better to not enter after the 4 or 5th bar as it is most likely near the S/R

A

Most BTC or STC finishes that begin after 3pm or 3:30pm EST are only going to last 4,5 or 6 Bars

The BTC Rallies -Bull Trends always end at RESISTANCE

The STC Selloffs-Bear Trends always end at SUPPORT

It is usually better to not enter after the 4 or 5th bar as it is most likely near the S/R

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12
Q

If the market is going mostly sideways and I am getting a Reversal or a BO and the BO occurs to early (like with more then an HOUR left in the day) the trend will probably not last until the end of the day

A

If the market is going mostly sideways and I am getting a Reversal or a BO and the BO occurs to early (like with more then an HOUR left in the day) the trend will probably not last until the end of the day

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13
Q

Traders should always look for a BTC or STC Trends at the end of the day

They typically start around 3pm - 3:35pm EST

If they start too early they usually do not make it to the end of the day unless the day has been a strong trend day

  • For example a strong bull day and you’re starting to get a series of bull trend bars even at 1 pm EST it is reasonable to buy it and trade it like a swing trade
A

Traders should always look for a BTC or STC Trends at the end of the day

They typically start around 3pm - 3:35pm EST

If they start too early they usually do not make it to the end of the day unless the day has been a strong trend day

  • For example a strong bull day and you’re starting to get a series of bull trend bars even at 1 pm EST it is reasonable to buy it and trade it like a swing trade
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14
Q

: In a BTC finish in the final hour always get out below a Strong Bear Bar

A

: In a BTC finish in the final hour always get out below a Strong Bear Bar

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15
Q

End of Day LOM

Tight TR is a LOM; DO NOT TRADE only skilled traders will consider trading LOM @ the end of the day and they are very selective

In the final hour, most should only enter with stops or market orders in direction of the trend

A

End of Day LOM

Tight TR is a LOM; DO NOT TRADE only skilled traders will consider trading LOM @ the end of the day and they are very selective

In the final hour, most should only enter with stops or market orders in direction of the trend

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16
Q

End of the Day BTC & STC has a TIGHT TIME WINDOW

The best time for a start of trend is 3-3:35 EST

A

End of the Day BTC & STC has a TIGHT TIME WINDOW

The best time for a start of trend is 3-3:35 EST

17
Q

End of Day BTC and STC opportunities are BRIEF

Since BTC & STC are climaxes, when they come in the final hour there is not much of a chance to make money as you need usually a couple of bars to confirm the BTC/STC as you most times enter on the close of the 3/4 bar

This leaves very little time in the final hour to enter a trade

A

End of Day BTC and STC opportunities are BRIEF

Since BTC & STC are climaxes, when they come in the final hour there is not much of a chance to make money as you need usually a couple of bars to confirm the BTC/STC as you most times enter on the close of the 3/4 bar

This leaves very little time in the final hour to enter a trade

18
Q

End of Day - RISK HAPPENS FAST!

A

End of Day - RISK HAPPENS FAST!

19
Q

When the market gets near Resistance it often gets pulled up to it very quickly even if it looks like it is going to get stalled, why?

Because the bears do not want to sell there yet, the bulls want it to get there so it is a strong magnet.

Buy once it gets there the magnet turns often at least briefly, be ready to enter quickly if behavior changes

A

When the market gets near Resistance it often gets pulled up to it very quickly even if it looks like it is going to get stalled, why?

Because the bears do not want to sell there yet, the bulls want it to get there so it is a strong magnet.

Buy once it gets there the magnet turns often at least briefly, be ready to enter quickly if behavior changes

20
Q

End of Day Buy The Close Bull Trend (BTC)

BTC is always a buy vacuum test of resistance, even if resistance is not obvious

So you do not want to be buying closes when the market gets close to the rally, you want to buy them early

When the market gets near Resistance it often gets pulled up to it very quickly even if it looks like it is going to get stalled

A

End of Day Buy The Close Bull Trend (BTC)

BTC is always a buy vacuum test of resistance, even if resistance is not obvious

So you do not want to be buying closes when the market gets close to the rally, you want to buy them early

When the market gets near Resistance it often gets pulled up to it very quickly even if it looks like it is going to get stalled

21
Q

At the end of the day Traders always look for magnets like todays open, low or high. Or magnets from yesterday, like its high, low or close

A

At the end of the day Traders always look for magnets like todays open, low or high. Or magnets from yesterday, like its high, low or close

22
Q

Traders need to be prepared for Bull/ Bear Traps at the end of the day

A lot of times in the final hours the markets will do something to make traders think it is a good buy and it is trapping Bulls into buying and the market is about to reverse down and vice versa for the sell setups

A

Traders need to be prepared for Bull/ Bear Traps at the end of the day

A lot of times in the final hours the markets will do something to make traders think it is a good buy and it is trapping Bulls into buying and the market is about to reverse down and vice versa for the sell setups

23
Q

If today is a Friday traders look at the Weekly S/Rs and if it is the final day of the month at the final hour traders will look for key S/R levels to structure a profitable trade as those S/R are magnets

A

If today is a Friday traders look at the Weekly S/Rs and if it is the final day of the month at the final hour traders will look for key S/R levels to structure a profitable trade as those S/R are magnets

24
Q

Bull Trap in the Final 2 Hours of the day

A

Bull Trap in the Final 2 Hours of the day

25
Q

Bear Trap in the Final 2 Hours of the day

A

Bear Trap in the Final 2 Hours of the day

26
Q

Usually the first time the Bears do anything it Fails, it is a minor reversal and the Bulls know this and will buy the minor reversals up (1st MAG and the Bulls know this!)

A

Usually the first time the Bears do anything it Fails, it is a minor reversal and the Bulls know this and will buy the minor reversals up (1st MAG and the Bulls know this!)

27
Q

The market at the End of the Day often Tests S/R especially if it is near the OPEN

A

The market at the End of the Day often Tests S/R especially if it is near the OPEN

28
Q

HIGHER TIMEFRAMES S/R is very important at the end of the Day

End of Day - Daily S/R are MAGNETS!

A

HIGHER TIMEFRAMES S/R is very important at the end of the Day

End of Day - Daily S/R are MAGNETS!

29
Q

Near the End of the Month or a Week the 5 minute Timeframes will often Test the S/R of the Monthly chart near the end of the month and on the 5 minute chart it will often test the weekly S/R

So pay attention at the end of weeks to the S/R of the weekly

and pay attention near the end of the month to the monthly S/R on the 5minute chart I am trading from

Note: H, L, C of Prior recent days are MAGNETS TODAY

A

Near the End of the Month or a Week the 5 minute Timeframes will often Test the S/R of the Monthly chart near the end of the month and on the 5 minute chart it will often test the weekly S/R

So pay attention at the end of weeks to the S/R of the weekly

and pay attention near the end of the month to the monthly S/R on the 5minute chart I am trading from

Note: H, L, C of Prior recent days are MAGNETS TODAY

30
Q

Last Day of Week - Weekly S/R are Magnets

Weekly S/R are important on Fridays, so located the weekly S/R and ensure they are plotted on my 5 minute chart’ there could be a vacuum in the final hour of the day

A

Last Day of Week - Weekly S/R are Magnets

Weekly S/R are important on Fridays, so located the weekly S/R and ensure they are plotted on my 5 minute chart’ there could be a vacuum in the final hour of the day

31
Q

Last Day of the Week - Look for Reversal at the End of Day

A

Last Day of the Week - Look for Reversal at the End of Day

32
Q

Last Day of Month - Monthly S/R are Magnets

A

Last Day of Month - Monthly S/R are Magnets

33
Q

Last Day of the Month - Look for Sell Vacuum to Support

A

Last Day of the Month - Look for Sell Vacuum to Support