Focus on the 90/10 Setups

Luck is when an opportunity comes along and you're prepared for it.

Identifying the best opportunity to trade today

What instrument(s) you choose to trade can have the greatest impact on your results each day. Obviously we want to aim for the instruments that have the Best Trade Setups, and will give us the best profitable result, with the least amount of stress and risk.

Signal Days

Signal days are one of the ways I look for BTS.

An example of a signal or "trigger" day would be: First Green Day, First Red Day, Inside Day, Day 2 breakouts, Day 3 breakouts, Day 3, etc.

These are days that signal the possibility of a Best Trade Setup in the next trading session. For example, GBPUSD has Day 2 shorts in the market. It may have a false break in the Asian session at the LOW and the LOD of the previous day. My main trading session may be the London session.

This could be an ideal candidate for an explosive three-day reversal trade in the London session. I have a trigger day, this alerts me to the possibility of a trade. Now I need the market to set up to help confirm my thesis, then I need price action to confirm my entry at the moment when the Europe-London session is opening and trading.

The type of setup in that session will help me determine if this is just a session trade, a scalp (LOD to HOD), or perhaps a bigger sizable move (LOW to HOD/HOW). Then I also want to be aware of any Major Red News on the calendar.

This trade could provide an excellent, easy and low-stress BTS session scalp, and the New York session could be the larger "Low Hanging Fruit" continuation trade later in the day.