How I plan my trades:
Let me show you the exact method I use to plan and execute my trades:
1. I look at the big picture to see if anything on the macro side.
2. Look at if there are any economic data up for release on the day
3. Look at the level of GOLD, OIL, SPY, USDJPY, and Nikkei are doing
4. See if there is any news that is currently affecting the markets or likely to do so in the next few days
5. Look the currency pair closet to the daily support resistance level.
6. Look for my trade setups.
7. Make a shortlist of pairs that look interesting to me and mark them on the charts and set price alerts.
8. When the price comes close to my zones I trigger the trade setting out clear risk to reward
9. Step aside and the let the trade work for at least 4 hours.
10. After that, if the price is not working as it supposes to I will either adjust my SL or close the trade
11. Let the trade run as per my plan
12. Close half at the nearest support and resistance level. Let the other half run and trail it where possible.
13. After the trade is closed make notes and make sure to review it at the end of the trading day.
14. Rinse and repeat.
Let me show you the exact method I use to plan and execute my trades:
1. I look at the big picture to see if anything on the macro side.
2. Look at if there are any economic data up for release on the day
3. Look at the level of GOLD, OIL, SPY, USDJPY, and Nikkei are doing
4. See if there is any news that is currently affecting the markets or likely to do so in the next few days
5. Look the currency pair closet to the daily support resistance level.
6. Look for my trade setups.
7. Make a shortlist of pairs that look interesting to me and mark them on the charts and set price alerts.
8. When the price comes close to my zones I trigger the trade setting out clear risk to reward
9. Step aside and the let the trade work for at least 4 hours.
10. After that, if the price is not working as it supposes to I will either adjust my SL or close the trade
11. Let the trade run as per my plan
12. Close half at the nearest support and resistance level. Let the other half run and trail it where possible.
13. After the trade is closed make notes and make sure to review it at the end of the trading day.
14. Rinse and repeat.
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