My results for today using the forexgrail xls taking only the strongest vs weakest 12 trades on TP(+5p) and 7 on SL (-10p). {image}
So here are my learnings on how best to use this sheet.
1. Best times to trade: Thats what maestro nasap advocates in her teachings. Trade when there is best liquidity. Trading all day only leads to false signals. I learnt this the hard way. Pick your spot...If it is LO, TO or NO or all thats fine but then trade those times +/- a hour.
2. Which leads to maximum possible trades. Do not take all trades if they pop up. 1-2 max. Remember Udine and his me.inc. If you had 100K+ would you be willing to risk 4 trades at the same time with the same Udine principles. Thats balls of steel...or carbon graphite. No point. Just pick one. This is a game of lasting out. we are still in probability business and the market is venom once we touch it.
3. After 1 loss stop for the session. COuld it be that the market is not moving per our liking OR we are not in tune with the markets. What we all forget is that we all are human and have lives and innumerable problems that no one likes to talk about in a public forum
. Stuff happens.4. Control risk. Now, Udine controls his risk by limiting himself to 4 pairs. Think about that for a second and takes trades only when his rules are met. Simple.
5. Back to CSM/psychological dash. These are fantastic. Use it as a GPS to pick your charts. No point trading every 1/8 combo or 1/7 or 2/8 or 2/7 combo or every correlation. The key as snail/Luxing/cycle/MM/Robinho and others have pointed out is to look whats happening to the left and then then make that entry.
I am using your post to bring out what we all need to get back to. The essence. We need 2%. If we take the 3rd trade bring down your risk in dollar terms so we still are positive for the day worst case. Very very critical. If the 3rd trade wins ensure 4th is equal to 3rd OR LESSER so that you can enjoy that positive day.
PDFBCC
Thanks again for letting me to use your post to quote.
