Dislikedok guys, Approx halfway working thru all the postings and making notes of the important stuff:- At our proposed trading time, in this case Frankfurt open for a couple of hours or any other high volatility times like US open. We need to ascertain the trend direction using the Higher TF like daily, H4 and H1:- Is the 26EMA making HH or LL? is price action trading above the 26EMA? In the event of a failed HH or LL then price will go back and retest the last swing point. Has Bull or Bear support been achieved? Next we want to see a signal on the H1...Ignored
In all we encompass...
Timing... Since we want to get the best bang for our precious time.
Entry... Based on the many signals we can look for.
Risk... Knowing we have got it wrong and escape with little damage.
Reward... Our money target where we can see the expected range and close our trade within it.
Money management.. We restrict our loss and compound our wins.
Hedging... This is a protective option where we can profit against our main trade direction.
Chart reading... Probably the most difficult aspect is to read what the charts are telling us with the specific tools available.
Stops... Our first thought of protection and the bane of all traders. I couldn't count the times I have been stopped out but my account continues to grow despite them because the math is on my side.
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