Dislikedas follows . . . might make it easier and more "SIMPLE" for others to follow, critique, and analyze (good and bad)
!!!! REMEMBER: I WILL BE PAPER TRADING ONLY !!!
Pairing
1st candle considered
3rd candle considered
Failure: If potential trade fizzles or fails test during three day run-up . . . I will explain why. Otherwise, trade proceeds to 4th candle . . . I will report
Open Trade 4th candle:
SL:
TP1: (or TPtotal if trading only 1 lot)
TP2:
Close trade date:
Example:
GBP/USD
1st candle considered: July 30, 2007
3rd candle considered: August 1, 2007
Failure: not applicable - PROCEEDED TO TRADE
Open Trade 4th candle: 2.0375
SL: 2.0275 (-100 pips)
TP1: 2.0415 (+40 pips)
TP2: 2.0440 (+65 pips)
Close trade date: August 2, 2007
Of course, open to any suggestion that will make quick analysis of our trades better.
Best Regards, K
PS: Remember, stay away from BIG news days (like today)Ignored
May I ask you smth if you don't mind?
1) How many pairs are you going to watch?
2) Is the example mentioned above considering SL of 100 pips and TP of 40 and 65 pips just an example or are you going to use these values?
3) What broker are you dealing with?
This will help me to make a parallel and compare your trades with my own!
Thank you!
Take care,
Dimy