MENTALITY
_trade in the direction of the trend, not breakout_"Deal with your loses. Stop avoiding them. Losing is an inhered part of this business. Nothing works all the time, therefore, my irony about 'systems'"
_Avoid rigidity as possible, keep flexible. no "rule set on stone"
_"The game is simple and difficult"
_" to understand that this is a long race. Not a sprint."
_"Don't you ever believe because you had a winner one day, you got it made..again you're here for the long haul. If you get a loss, just deal with it..again you're here for the long haul and the markets will be there.always.
_"see, the problem I have with pullbacks/retracements is that you can get caught up in the middle of a fire. Also, as we don't know what the market is going to do next, I assume that if the market continues the swing AKA trend now, it's a high probability trade when the market breaks the last swing high and continues."
_"Don't predict the market. It's a fool's game"
_"Trading is difficult. There are many things that will definitely work against you.. the best you can do is to stacks odds in your favor...let the market come to you."
_"DON'T USE IT AS A HARD AND FAST RULE...DON'T PATRONIZE ANYTHING ON THE CHARTS OTHER THAN PRICE."
_"Just be aware, if there's a follow thru after a deep pullback...take the trade....tight your risk more and use discretion...but take the trade, please."
_"don't close any trades...never..... let your setup work...if you get stopped out, there will be another chance...deal with it. Remember this is a game of probabilities. I've been 1 tick shy of being stopped out and then the market resumes the original swing...it happened to me hundreds of times. play the odds....."
_"Take the market as it is......imperfect"
_"Again, don't worship anything you put on the charts...learn how to read the swings...the market is telling you something..."
_"If there's nothing there, don't force the trade."
_"If you lose, get up, shake yourself and keep walking If you win... don't get excited...the war is not over you don't have it made yet buddy!!! I want you to feel bored of trading...very much like working inside a government's office but without the chit-chat."
LOGIC
*If we see a trend, how to follow it?*
_How to defined what is considered a trend? - higher high and lower low
RULE
Step 1: look for a "trendy impulse" wave (Depend on daily volatility) in Europe and US open_EURUSD: 20pips+
_GBPUSD: 50pips+
_USDCAD: 18pips+
_USDJPY: 15pips+
Step 2: Look for a pullback wave (not Elliot related)
_the trend is weak if the reverse is 50% the impulse leg
_If the pullback is great or equal the impulse, the impulse would be considered non-impulse (no trade)
Step 3: place a stop-order at the top/bottom of the last impulse leg and plus N pips
Step 4: Tp/Sl should be matched with the market volatility and MM
_R/R = 1/1 (not rigid required)
_place Stoploss on the top/bottom of the pullback wave.
_MM is money management
Step 5: WAIT and TRAILING STOP
ADDITIONAL RULE
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_If the volatility is too small and suspicious, play wider sl and tp_Impluse should have appeared around mid-noon Europe season
