Daily // 4H // 1H // 30mins
Support & Resistance // Trend Lines & Channels // 21&50 Moving Averages // Elliot Waves // Multiple Timeframe Reference // Fibonacci Levels
get context for the set-up
TREND on entry timeframe Determined by 21&50+C SMA if subjective (✓)
ADX>25 registered on impulse wave (✓)
Low volatility when keying order Area of value (✓)
Flag // Pennant // Wedge // Triangle // Rectangle
Simple Retracement [Fibonacci 50% // S&R Zone // 2150 TAZ]
Falling Rising Wedge // Complexed ABC pullback
Higher Timeframe Inside Bar
Entry @ Break of Structure // Area of Value + Candlesticks
Stop Loss @ +1ATR away from last wick // 50 SMA as guide
Take Profit @ Length of Prior Impulse // Next Area of Value
1% capital risked for potentially xxR
Open: xx | Stop loss: xx (points) | Take Profit: xx (points)
Shift to Break Even
Initial Stop Loss
Risk Management & Rules
Trades with stop according to market structure with buffer of +1ATR must be allocated risk of 1% consistently.
Due to the price discrepancy between brokers on TradingView and CMC Markets, key in the trade based on prices shown on the CMC chart.
In the event of a 20% drawdown, 1% risk will be based on the new existing capital. Hence, the account can run for another hundred trades.
R-performance must be potentially more than 1.5.
Trades should essentially be managed on the entry timeframe itself.
The aim is to identify low volatility areas and enter before the high tension accumulated results in massive price movement.
You will be missing many moves. Doesn’t matter, there’s always another set-up. Do not chase the markets.
Don’t be greedy. Be happy to exit at TP.
You will be wicked out from time to time. It’s all part of trading.
Hindsight is a parasite. Ignore it and move on. Easier said than done, however.
Ignore reversal trades. That’s not where your edge lies. Even if the analysis is correct, it will be too volatile and you’ll get wicked out. Search for the continuation after reversal.
Exits define your edge, do not only look for the premium entry. Look to plan out the whole process.
Not only about the risk to reward ratio, probability of winning also plays a huge part.
Remember, a high potential R performance means a lower probability of success.
The whole system with all the departments of a trade has to function in synchronisation.
Targeting around 60% win rate with average win about 2R.
Be patient enough and trust your analysis.
Only trade when there’s a statistical edge in your favour.
The edge will play out in the long-run and you want to make money in the long-run, over a series of trades.
Be a robot.
Get to 100 trades then consider increasing capital.