No trades today posting video

Current set of rules

DB	Buy Setup
DT	Sell Setup
FH	Fade New High
FL	Fade New low
MO	Market Order Strong Trend
TLB	Bounce of Trend Line or EMA
TLS	Bounce of Trend Line Sell or EMA

more ideas on trading rules

As per vance in bmt

I have been circling the trades on my daily chart...I refer to them as optimum entry points. These are the areas where there is a compelling reasons to enter a trade.

They can include 2 or more of,

1. An area of support or resistance.

3. Evidence of price movement. No big chop or overlap going into an area where I am intersted in doing business.

4. The beginning of another leg up or down, as in a measured moved, or at the end of such a move as an area of capitulation.

5. Bounce off the EMA or a trend channel top or bottom.

6. 2nd entries (I explained in a video)

7. Trend days, any reason to go short or long.

8. Range days, fade every new high or low.

9. Double tops or bottoms. Without excessive overlap. (rangebound)

10. Buy or sell on retests of highs or lows.

11. Reversals or countertrend. Need extra certainty. More so than with trend continuation.

12. This is a recent addition...Market orders on very strong trends...(This is something that I got from the Al Brooks webinar... needs more review.)

Close is close enough.

My trading rules and template

Ideas/focus on having good rules and template for trading

a> have a template/excel to check the Bull and Bear case
b> Type of trades to be taken
1> Trend (h1)
2> Trading range
3> 

record screen (BB Flashback)

BB Flashback

trading rules example from Breakout journal -- BM

Trading Rules

Name: Robert
Live Account Forex
Account Size: 2000
Max. Position Size: 10000
Loss Limit: 60.00

Market(s) trading: FOREX
Trading hours (in Eastern Standard Time)

• Start time: 8:30 am
• Stop time: 3:00 PM

Trading style: Discretionary
Trading strategy: Breakouts
Loss limit:

• Per day: 60
• Per week: 120
• Per trade: 20

What is your edge? Trading Breakouts and predicting price movements using support and resistance.

Risk to reward ratio 1 to 1

Mechanics (entering orders, placing stops, etc.): Use OCO orders to set stops and target. Enter on market during a breakout or use stop above breakout point to capture breakout.

Core discipline principles
Trade only high probability trades. If I miss it then I miss it. There is no getting in late on a trade. Never re-enter the market right after a big win or loss. If I lose 3 trades in row then I am done for the day. If I have 3 losing days in a row then I am done for the week


1. I will NOT hit my loss limit.

2. I will NEVER add to a loser.

3. I will NEVER add to a position

4. I will stop trading if my Net P&L is greater than $100 and my Net P&L has pulled back
25% off my high watermark (Net P&L high of the day) for the day.

5. I will take at least a 10 minute break after a large winner.
a. Define what amount you consider to be a large winner: 70+ ticks

6. If I am down for the day, I will take at least a 10 minute break if I experience 3 losing trades then I am done for the day. If I have 3 losing days then I am done for the week.

7. I will always commit to my stops and will never enter a trade without having a stop in place.

8. When my trade goes in the money by 10 ticks, I will slide my stop to breakeven [at the very
least].

9. My largest winning day will be greater than my largest losing day.

10. Overall Average Win greater than Overall Average Loss

11. Overall Average Win Duration greater than Overall Average Loss Duration

12. Total Win % of 45 or greater

read this

http://www.brookspriceaction.com/viewtopic.php?t=1394&postdays=0&postorder=asc&&start=225

trading plan ideas

http://www.brookspriceaction.com/viewtopic.php?t=1394&postdays=0&postorder=asc&&start=225


Trading plan for 06 to 17 –August – 2012 

Setups: 

With-the-trend: 
• Buying a H2 pullback to the moving average in a bull trend. 
• Selling a L2 pullback to the moving average in a bear trend. 
• Buying a H2 double bottom bull flag. 
• Selling a L2 double top bear flag. 
• Buying a wedge pullback in a bull trend. 
• Selling a wedge pullback in a bear trend. 
• Buying a H1 pullback in a strong bull spike in a bull trend, but not after a strong buy climax. 
• Selling a L1 pullback in a strong bear spike in a bear trend, but not after a strong sell climax. 
• Buying a breakout pullback after a breakout from a bull flag in a bull trend. 
• Selling a breakout pullback after a breakout from a bear flag in a bear trend. 

Trading ranges: 

• Buying a H2 near the bottom of the range. These are often second attempts to reverse the market up from the bottom, like a double bottom. 
• Selling a L2 near the top of the range. These are often second attempts to reverse the market down from the top, like a double top. 
• Buying at the bottom of a trading range, especially if it is a second entry after a break above a bear trendline. 
• Shorting the top of a trading range, especially if it is a second entry after a break below the bull trendline. 
• Buying a wedge bull flag near the bottom. 
• Selling a wedge bear flag near the top. 
• Buying a bull reversal bar or reversal pattern like a final flag after a break below a swing low at the bottom of the range. 
• Selling a bear reversal bar or reversal pattern like a final flag after a break above a swing high at the top of the range. 
• Buying a breakout pullback after an upside breakout near the bottom of the range (for example, if the market starts up and pulls back, look to buy above the high of the prior bar). 
• Selling a breakout pullback after a downside breakout near the top of the range (for example, if the market starts down and pulls back, look to sell below the low of the prior bar). 

Profit targets: 

With-the-trend: Start trailing profits at RRR=1,5 times de risk. 

Trading ranges: RRR=1 

Trading size: 
500 shares

Trading plan (simplified) To trade and to have a balanced life. 1) Trading Time: mainly 8:30am to 11:30am. No new trades after 11:30am. 2) Trade ES Only. 3) Maximum daily loss limit: $500 Maximum position size : 3ES 4) Setups: Only long setups are defined here. Main focus on 5m chart. The foundation for long bias: real value > current price & currently more buying pressure. Based on urgency in demand, define two major setups: • Fast Entry Strong Breakout(FESBO) . o TRSBO_B (trading range strong break out buy); o TDSBO_B (trend strong break out buy). • Slow Entry Mean Reversal(SEMR) o TRBC_B ( mainly TR fade_B & BCTL_B; BCTCL_B : counter trend buy) o aS1stPB_B (after spike 1st PB buy) o TDPB_B (Trend pull back buy) 5) Trade Management: focus on entry. Set INITIAL STOP at a price where market proves my basis for entry not valid any more. If long at a good entry, stop at 1T below the low of the bar right before EB or low of TTR should not be hit. (chart of 11/20). 6) Trading Rules: o Mainly use a fixed PT & a fixed stop to stay focused on identifying context and setup, not floundering around with where to set stops & limits to be learned after the basics. o Identify and trade best setups in best context; If not sure, stay out or exit. o Choose PT & R by swing H/L; for Limit/Market long, try not to enter when a bear bar is forming. o Learn to anticipate the setup: http://i.imgur.com/ZVdd6.png o What to do when making a mistake? Try to exit asap. o Follow trading plan and follow trading flow chart! know PT & Stop before entry. Trading flow chart: http://i.imgur.com/F0ibr.png • STEP 1 Before entry, trade only when calm and focused. • STEP 2 Enter trade and trade management. • STEP 3 After exit. ----------------------------------------------

Nothing much but found interesting link

http://gettingsmart.com/blog/2012/06/gamification-bring-gaming-mechanics-into-non-gaming-environments/

Stretching boundries

Will be posting Nifty chart analysis shortly. This will keep me pepped up.

Should get comfortable with sharing knowledge. Based on observation if you start sharing you do good :).