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    Morning Trading
    Morning Trading
    Morning Trading
    Ebook168 pages1 hour

    Morning Trading

    By Dr. Volker Wendel

    3.5/5

    ()

    Read preview

    About this ebook

    The unique advantage of this handbook is the combination of a systematic analysis methodology with powerful EXCEL tools, setup selection and price action monitoring and trading rules.
    The functionality of the EXCEL tools covers price and volume indicators, swing pivots, candle stick patterns, Fibonacci retracements and extensions, Wolfe waves and Elliot Waves. These tools define the current market structure and select the corresponding setups that will be used as a framework for dedicated price action monitoring rules.
    The price action monitoring starts with the transition from last day's closing via overnight movements to the regular opening phase and is continued after the regular opening, leading to clear entry rules.
    Using this trading method helps you achieve a new, efficient trading style focused on large price moves following predictive patterns during the morning hour. It helps avoid overtrading by aiming at “one good trade per day”.
    LanguageEnglish
    PublisherXinXii
    Release dateFeb 11, 2016
    ISBN9783959261081
    Morning Trading

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      Book preview

      Morning Trading - Dr. Volker Wendel

      IMPRESSUM

      Morning Trading

      Handbook with integrated Excel setups and price action rules

      By Dr. Volker Wendel

      volker.wendel@t-online.de

      © Copyright 2015 Volker Wendel

      All Rights Reserved

      E-Book ISBN: 978-3-95926-108-1

      GD Publishing Ltd. & Co KG, Berlin

      E-Book Distribution: XinXii

      www.xinxii.com

      XinXii Edition, License Notes

      This ebook is licensed for your personal enjoyment only. This ebook may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each recipient. If you’re reading this book and did not purchase it, or it was not purchased for your use only, then please return to your favourite ebook retailer and purchase your own copy. Thank you for respecting the hard work of this author.

      Disclaimers

      Income Disclaimer. This Handbook and the EXCEL Workbook contain trading strategies that, regardless of my own results and experience, may not produce the same results (or any results) for you. I make absolutely no guarantee, expressed or implied, that by following the methodology below you will make any money or improve your profits.

      Liability Disclaimer. By reading this document or using the EXCEL workbook, you assume all risks associated with using the methods and data given below, with a full understanding that you, solely, are responsible for anything that may occur as a result of putting this information into action in any way.

      You further agree that the author cannot be held responsible in any way for the success or failure of your business as a result of the information presented below.

      All information in this Handbook, E- book and EXCEL-file is for educational purposes only and is not intended to provide financial advice. There is no guarantee that the imported index quotes will be available or correct in the course of time; the user may have to adapt the web- queries.

      Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold this Handbook and the EXCEL- file harmless in any way and all ways.

      U.S. Government Required Disclaimer - Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Do not trade with money you cannot afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.

      CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

      Table of Contents

      1 INTRODUCTION

      Scope of the Book

      Basic Concept

      Book Structure

      Financial Instruments

      Rules

      Conventions and Notations

      References

      2 THE EXCEL WORKBOOK

      The Concept

      Loading the EXCEL Workbook into Your Computer

      The Primary Data

      Structure and Dataflow

      The Worksheets

      The Chart Sheets

      3 MARKET STRUCTURE

      Swing Pivots

      Configurations

      Trendlines

      Trend Reversals

      Waves

      Median Lines

      Trend Qualifiers

      4 TRADING SYTEMS and SETUPS

      Overview

      Continuation after Pullback

      Medium-Term Trend Reversals

      Short-term Reversal Patterns

      Ranging Markets

      Gaps

      5 TIME PATTERNS

      Monthly-View

      Triple Witching

      Weekly- View and Taylor’s Swings

      Daily- View

      Intraday View

      6 FROM CLOSE TO OPEN

      Yesterday’s Last Hour

      Yesterday’s Close

      Overnight Movements

      Opening versus Pre-Opening

      Trading Before Regular Opening

      OPENING PATTERNS

      7 TRADING INSIDE YESTERDAY’S RANGE

      Trading Partial Gaps

      The 9:30 Pivot

      The 10:00 Pivot

      Entry Rules

      Trend Bar Failure Setup

      8 BREAKOUT TRADING

      General Rules

      Opening Range Breakout

      Breakout from Yesterday’s Range

      Volatility Breakout

      Breakout Pullback

      9 FULL GAP TRADING

      Typical Gap Behaviour

      Gap Continuation

      Gap Pullback at Morning Pivot

      Gap Fading

      10 TREND DAYS

      Appendix 1 References

      Appendix 2 List of Figures

      Appendix 3 List of Tables

      Appendix 4 About the Author

      Appendix 5 Connect with Me

      1 INTRODUCTION

      Scope of the Book

      This book addresses private short-term traders who wish to improve their trading performance and reduce their trading costs.

      Together with the associated EXCEL workbook, the handbook contains the results of 10 years of research work. The starting point is the technical analysis of daily charts that defines the market structure and provides the corresponding setups before the opening. The results are used as a framework for dedicated price action monitoring, leading to refined trading setups and entry rules after the regular opening.

      The unique advantage of this trading methodology is the combination of powerful EXCEL analysis tools with a systematic workflow for analyzing the transition from last day's closing via overnight movements to the regular opening phase. The functionality of the EXCEL tools covers the entire range from price and volume indicators, swing pivots, recognition of candle stick patterns, Fibonacci price retracements and extensions, Fibonacci time projections, Wolfe waves and Elliot Waves.

      Using this trading method helps you achieve a new, efficient trading style focused on large price moves following predictive patterns during the morning hour. It helps avoid overtrading by aiming at one good trade per day.

      Prerequisites for using the book are a good understanding of the major technical indicators, swing pivot points, candlestick patterns and trading setups.

      It is also assumed that the reader has some practical trading experience, covering different entry and exit order types and money management.

      Basic Concept

      It is well known that short-term trading keeps

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