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Currency Strenght

Showing posts with label Trade plan. Show all posts
Showing posts with label Trade plan. Show all posts

Sunday, 24 July 2011

Risk Recap

Risk Recap on 4hour Anchor Trade plan
Swing trading based on 4hr Time frame,
Let Your risk criteria be a max of 35 pips a week, either one or a combination of traders that are taken.
So you know at any period based on risk/reward of 35pips a month will be your risk limit.
1.Let risk management determine your decision.
2.Bank half @ 30pips
3.Targets 3:1
4.Approach is a retracement to support /resistance/ breakout zones selling into strength and buying into weakness.
Attempt to use Momentum tactics
candle stick
stochastic
Rsi
as desired conformation on lower time frames before pulling the triggers.
5.A combination of 4hr, 1hrly and 15minute used as an entry time frame

Friday, 22 July 2011

Structured Format

I think a more consistent and Structured format is need in delivering my views of the market. making it easier for you to follow, understand and review and comment.

See below

Trade Synchronization Plan

Tick

Description

Pair:

Currency

Date :

Time and date

News:

Fundamentals / Economics Reports

Technical’s:

Weekly, Daily, Intraday Charts,

with SS/RR and Pivot points

Strategies

Harmonics, 4hr Anchor, Poseidon. Elwave

Success%:

Based on Elwave analysis and

4hr underlying Mechanics

Date:

Time and date

News:

Economics Reports Update,

and Trader sentiment

Strategies Update

Description on how Mr Price has reacted within

Support and resistance zones.

Synchronize:

This is and agreement of 2> Strategies

Success%:

Based on Elwave analysis and

4hr underlying Mechanics

Short-term Expectation:

Description from 4hr to hourly expected moment

Trade:

3:1 odds Risk Management

Concerns

What your main reason why this trade may fail

Conclusions

Result