Basic Entry Model

General configuration

• ·Setups: using 15-minute charts
• ·Entry: for simplicity, entry is on a 5-minute chart with close back inside the 20 EMA aligned with the direction of our trade
• ·Max Stop Loss: 15(-20) pips for currencies · 20(-25) pips for gold, oil, indexes
• ·Profit Targets: vary per setup. Minimum is 50 pips. Others may be 75, 100, or 100+

IMPORTANT — News rule

The First Bounce Trade Setup is the one I'll use with a News Catalyst Momentum Trade.

If you're already in a trade before the news, make sure to close some profits.

The news can act as a catalyst to complete a move in a larger setup (e.g., Day 3 Reversal, etc.)

This can put you in a very vulnerable position. Often with a potentially volatile news release (Non Farm Payrolls, FOMC, etc.) there can be massive slippage. Even though you have a stop in place! You could potentially experience 50 or even 100 pips of slippage.

My general approach

My entire approach to the markets is: where do I have a specific setup? Setups are what I'm looking to trade. These are the setups I've narrowed my trading down to. These are the highest-probability setups I've identified.

The Best Trading Setups are how you can grow your trading business. How you can scale your trading business in size. How you can have asymmetric risk/reward in your trades.