Quoting pingpongDislikedi love checklists for trading i am having success with the bago system and here is my ever growing list. 13 might be an unlucky number for some!
- Go long when blue 5ma crosses red from below.<?xml:namespace prefix = o /><o></o>
- Go short when blue 5ma crosses red from above.<o></o>
- Check RSI is in appropriate direction – preferable on a cross.<o></o>
- Check vegas isn’t near price action.<o></o>
- Check I am taking a trade in the trend direction.<o></o>
- Avoid news releases.<o></o>
- Ensure no divergence is on MACD.<o></o>
- take profit on pivot points and other MAs<o></o>
- use 80/20 rule at 20pips.<o></o>
- ideally all 3 ma’s should confirm trade. (ive got a 34, 55 and 200 too)<o></o>
- check daily range before taking trade.<o></o>
- check price action isn’t in fib range of 0.764, 61.8 or 50% levels<o></o>
- record trades for analysis later.<o></o>
Ignored
Again, I don't follow this method exactly, but it's riddled with a lot of good information that's ever-expanding. Keep up the good work.