Simple S&P emini trading plan

[vvsignin]

I'm using Bollinger Bands along with an 8 and 34 MA to trade the S&P emini. I'm looking for volatility on either the short or long side where I get expansion bars followed by a pullback, where I enter, and then continuation bars. I hope to make 1-3 points per trade, trading one contract, with a 1 point stop loss. I usually trade from 6:30 am MDT (GMT -7) until 9:30 am MDT. This is the time when there is the most volume in the market.

Benefits: At least a 1:1 risk/reward ratio in theory.

Downsides: Don't know if the pullback is the end of the trend/whipsaw.

Can anyone make a suggestion on how to make this a higher probability trade?

Thanks!

Ed

 

[mslcwt1]

vvsignin

Be careful at the open. Price action is not always what it seems.

Here are 2 trades I took 3/19.

This setup seems to confirm break outs which is what I"m after, a 1 pt trade.

I only get to trade about the first and last hour of the session. I have been getting 3-5 trades a week. Just using 1 contract and expect to ratchet up to around 10 contracts.

:clap: