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Trade Plan Checklists. RULE #1. Rule Number One of trading success is the preservation of trading capital and the minimization of risk at ALL times and as always when probability of success isn't in our favor it is a NO TRADE situation.
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RULE #1 Rule Number One of trading success is the preservation of trading capital and the minimization of risk at ALL times and as always when probability of success isn't in our favor it is a NO TRADE situation. The above represents a very real probability of an unstable trading environment in the next few days REMINDER: There will be NO trade analysis for Thursday 13th March and trade will resume again on Friday 14th of March as per usual with session one trade analysis. We will however continue to monitor markets and if a suitable trade arises during early trade in either session we will issue a trade alert with details via our mastermind group located below:
Did I follow the Trade Entry Rules? • Rule #1 Identify the current market position relative to the previous market activity • Rule #2 Identify probable BUY/SELL entry bar
Did I follow entry and expiry times? • We place a trade on the hour or the half hour and only when we have 10 or more minutes left in the trade • :00 on the hour • :30 on the half hour
Rule #1: Identify the current market position relative to the previous market activity 5 minute 15 minute 1 hour
Support & Resistance Support Resistance
RULE 1: Prices are not in congestion Congestion
RULE 1: b) Prices are not in congestion Congestion
RULE 1: Prices are not overextended Over extended
RULE 1: Is the price activity true or false True activity True activity False activity
RULE 1: Is the price activity true or false True activity False activity
RULE #2: Identify probable buy entry bar • Direction: Primary trend turns up • Pressure: The swing low caused by the Primary Indicator is higher than either of the previous two swing lows
RULE 2: Identify probable sell entry bar • Direction: Primary trend turns down • Pressure: The swing high high caused by the Primary Indicator is Lower than either of the previous two swing highs
RULE #2: Identify probable buy entry bar b) Direction: Primary trend is up Pressure: The Secondary indicator swings down and then back up in the same direction as the Primary Trend
RULE 2: Identify probable sell entry bar b) Direction: Primary trend is down Pressure: The Secondary indicator swings up and then back down in the same direction as the Primary Trend
RULE #2: Identify probable buy entry bar c) Direction: Primary trend turns up Pressure: The Secondary trend swings down and then swings up before or with the Primary signal. The Secondary swing low must be higher than or equal to the previous Secondary swing low
RULE 2: Identify probable sell entry bar c) Direction: Primary trend turns up Pressure: The Secondary trend swings up and then swings down before or with the Primary signal. The Secondary swing high must be lower than or equal to the previous Secondary swing high
RULE #2: Identify probable buy entry bar d) Direction: The Moving Average Slope is up Pressure: The Secondary trend swings down and then back up in the same direction as the M/A slope
RULE 2: Identify probable sell entry bar d) Direction: The Moving Average Slope is down Pressure: The Secondary trend swings up and then back down in the same direction as the M/A slope