02/03/2010 04:01:18
tom
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Trade Plan - Trade Setup Entry and trade Exits
How do we trade
Ninjatrader Charts
Intermediate Trend
Levels of support and Resistance
Open Range OHL
Gann Fann Placement
look for patterns ABC
use confirmation to trade the pattern with the trend
ABC but with confiramtion from other charts and trade types
GBPUSD or 6B
Trade Plan
Trade Setups
Trade Entry
ABC Patterns at the open range/s
Along With (
Selling highs and buying Reversals -in accordance with trend and pivots
Entering with the trend on a pullback to a MA
Trend and range breaks)
looking for confirmation on woodies - crossovers - trend channels, rsi, cci...trend
Trade Exits
Pivots R1,R2,S1,S2
Trendline Breaks
Closes above blue ma
Woodies - if short -green dots - with red bricks on 200 - CCI sero line crossover
edited by tom on 02/03/2010
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02/03/2010 04:07:27
tom
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Exit using trend
The actual entry was made on a higher time frame and was a B Sell -
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02/03/2010 04:08:58
tom
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Open Range sell based on pullbcack to MA
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02/03/2010 04:10:09
tom
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ABC B Sell Open Range - Gann Fann 8x1 rejection
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02/03/2010 04:11:38
tom
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3 Min ABC open range sell on B with woodies and trend
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02/03/2010 04:13:23
tom
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renko open range semaphore short plus range and swing low breakdown
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02/03/2010 04:19:00
tom
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We always read the charts from the left to right
our trading time frame is 10 minute
we use the 3 minute to zoom into the candle abnd give us an advantage over 5min and 10min traders
we trader with the trend preferably
waiting for key levles such as the open high or low to be tested and rejected
we use the gann fann and elipeses 30mins before we trade so look for patterns that are trabel on the open or after the first 30mins bar - then we have teh 10 miinute candla and the 3 minute candle to utilise
renko and ragne help
The best setup must be a point ABC -
We use all the other trade confirmations to enter
sometimes we miss and their is a b or c brekout - so we must enter on the close of the trend or range break break or wait for a pullback to a moving average
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02/03/2010 04:25:10
tom
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we assess the trend
is this an up day or down day
where are the pivots
wait for the first 30min bar before trading - but be early to prepare
go backwards in time and practice and annotate soome trades on the open range -practice
get the pattern in your head -
The currentdayOHL is very powerful....
trade in a new 4 hour bar or new 1 hour bar + 9 to 16 minutes
we place the gann fann to assess the marekt project support and resistance
all the time the market is above the 8x1 it is valid to trade
The top or bottom
we look for pin bars highs and lows
Draw an elips- if it gets baet move it.
think of lower highs a point is rejected of failed to make a new high followed by doji or with divergance on woodies...
is that a B sell or a C sell ( which way up is a pyramid?)
are we near r1 or s1 etc north or south of the pivots
write the trade on the chart use a chart marker to mark your entry and exits
look for pin bars followed by dojis and then higher bars
edited by tom on 02/03/2010
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MicroTrends tom
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02/03/2010 05:07:11
tom
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woodies divergance
new lows but woodies didnt
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02/03/2010 05:20:54
tom
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wait for the candle to close before buying or selling
trendline breaks
breakouts etc
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02/03/2010 05:25:13
tom
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dont rush to get in
If you miss it so what theres another trade around the corner
If you get a breakdown wait for the donchian to develop a floor - lower band or even upper badn on a breakout
look for a pullback
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02/03/2010 07:28:40
tom
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to prevent over trading we need to wait for the setups to occur - our main trade must be the ABC pattern
We will spend a lot of time being tempted by other trades
These are generally sub optimal in comparison
A few good ABC trades are all we need in a week to earn a good income
knowing when not to trade is as important as knowing when to trade
setup
trade entry
practice one trade and master it
trade exits must be adhered to and written in journal for appraisal
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02/03/2010 07:32:51
tom
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we need to check the economic calendat and news at www.forexfactory.com every day
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02/03/2010 07:38:04
tom
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The Trade plan is to trade between 11:30PM and 03AM
Looking to trader the open range aftert the 30Min bar - which may be in the first 5 minutes or 2 hours
if at 03AM there is no trade or befreo we- can put a tradon with a stop and target - set and forget
We need to do a maximum of 2 trades
we need to look at previous winning trades in the forum
we need to go back over the 10min charts and annotate and - go voer historical trades ABC
We will use the 3 min to help trades we see on the 10min
edited by tom on 02/03/2010
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MicroTrends tom
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02/03/2010 07:44:16
tom
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Or we trade from 06Am in the morning till 10AM
edited by tom on 02/03/2010
edited by tom on 02/03/2010
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MicroTrends tom
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03/03/2010 10:56:15
tom
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Pattern recognition
+ indicator rules
confluence
suse the 10 to spot patterns and a 3 to enter before the rest of the market has caught on
http://www.screencast.com/users/MicroTrends/folders/Jing/media/43410c07-901c-4df0-b136-16f09cada24d
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04/03/2010 06:31:44
tom
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How to write a winning trade plan
http://forexinterval.blogspot.com/2009/11/steps-to-building-winning-trading-plan.html
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MicroTrends tom
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04/03/2010 23:05:50
tom
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1. How can you find a 'low risk' trade?
2. How do you assess your potential risk/reward?
3. How should you calculate position size?
4. How do you manage your trade and set an appropriate exit strategy?
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MicroTrends tom
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05/03/2010 00:49:42
tom
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Trade Plan
will dicatate how long oyu trader for - what happens when you have a postion on when the your trade session is over
also how you will backtest everyday after the market or 15 minutes before the end until session ends
pre market
3 practice trades - write on chart + chart markers, entry and exit
pre market checks
backup ninjatrader
connect
Relaod historical data
write on pad support and resitstance, yearly. montly, weekly, daily
fib numbers, support and resistance
trend direction
yesterdays OHL
todays O
gann fann placement
trends on daily 240, 60,30
can you buy/sell at open?
if not wait for 30min bar
is there ABC with meaningful ccadle
ok then we wat for the B or the C to go in
edited by tom on 05/03/2010
edited by tom on 05/03/2010
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MicroTrends tom
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05/03/2010 01:07:52
tom
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Pre MArket Support and Resistance fugures
you find these everyday day and note them on a new sheet
why?
its NLP
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MicroTrends tom
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