My strategy is taking ‘cautious’ breakout day trader signals, but within that, I trade any valid break that comes along.
I aim to determine the nature of a break and to always think in probabilities.
I take note of the context, pace and harmony of the market.
I favour trades that are in the direction of the current dominant pressure.
With a neutral view, I let a break build up ‘properly’.
I pay attention to magnets such as a double zero or fifty price level.
I want obstructive elements between entry and stop but not between entry and target.
I monitor significant financial news and do not trade their effect.
My entries are from near or on the 25 exponential moving average in association with a squeeze setup in a direction appropriate to the context.
A signal bar is highly desirable, a break of which is my entry which in turn becomes my entry bar.
I wait for an actual break, patient to avoid false and tease break traps.
In a trend, I swing my trade and exit at the target (at least 2R) or resistance, a technical or a reversal point.
In a range, I scalp my trade and exit at the target (at least 1R) or resistance, a technical or a reversal point.
But I do not need a trade; therefore, I do not search for one. I spot my bets rather than find them.
My goal is to trade at (?) amount per pip at 50 per cent of margin.