Improvements Flashcards
How should we approach our entries when trading outside the London Open and the London NY overlap?
When looking at trading during the london lull, we want to be a little more cautious, only trade PT, and always play a 5s off a 1M CHOCH, never just play a 5S off the refinement.
When trading CT, how should we approach our partials?
We should take partials fast and heavy when trading CT
How can we be sure that we are following OF without ignoring other aspects?
We always want to follow 15M structure first, then 15M OF.
Whats the best way for us to make sure that we arent missing out on trades and only taking losses?
By making sure that we take every trade setup without any discretion. If it’s a setup, take it. If not, dont.
When taking the CT positions after a 15M BOS, where can we TP?
We will set hard TP’s at 5R, no negotiation.
How can we have a better win rate and maintain profits?
We can have a better win rate and average expectancy by closing 80-90% of the trade at a very realistic level.
Why is it bad to try and force a trade if you haven’t have a trade all day?
Because forcing a trade will result in a loss 9/10 times, so you lose money instead of break even.
Is it bad if there is a half decent setup and you didnt take the trade?
No, we cannot have any discretion in our approach. If there is as setup, take it, if not, dont. If there was not a setup but our level played out, we didnt miss out on a win, we avoided several losses. There will always be more AAA trades.
What kind of setups can we take when we aren’t in NYO or London Open?
We will take PT and pro OF trades, playing a 1M and 5S confirmation. These are the most HP trades and the only ones that that we can take when session timing is on our side.
What are the 3 things that we want to look at when looking at PA?
SO OF MO Structure (and the current SO) Orderflow and momentum
If you see a 1M CHOCH, how can we validate it?
We can draw a line and see what it reacted off of, and if It reacted off of something that I missed.
When looking at the charts, what should we be looking at?
We should be looking at what price IS doing, not what it COULD do.
What can we look for after a large sweep of LQ?
We can look for a retracement, and can start trading off of OF on the 1M
What happens if you take an L, then dont look at the charts?
If i take a loss, and stop monitoring price, the level could very well still be valid, and I miss the winning trade and only end up only taking the losing trade.
Therefore, if the setup is valid, take it, regardless of the trade before, and regardless of the outcome.
