Essentials

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As with all strategy and methodologies there are some essentials you need to know before you can understand how to implement and follow my logic when trading.

As with all strategy and methodologies there are some essentials you need to know before you can understand how to implement and follow my logic when trading.

Intraday Strategy Objective

The first thing you need to know is what my aim is for intraday trading set ups. What I’m trying to do is to capture the main thrust of the days movement.

With this in mind I look at the ATR for a given currency pair so that I know what “on average” a pair is likely to do… more on this later.

Tools of the trade

The tools that I use to accomplish the objective are;

Simple interpretation of price action

Horizontal support and resistance

Overnight Highs and low

Previous days highs and lows

Fibonacci retracements and extensions

Account and Trade Management

Combined with these tools I use strict money management to keep the risk small enough to allow for any loosing periods that occur and more importantly allow a both physically and psychologically disciplined approach so that I can “stick to the trading plan”.

Within the pages on this site you will find detailed expansion of these points and a precise outline of each set up I use on a daily basis.

I’m a self taught trader and managed to start my trading career with a high degree of success, but this doesn’t mean to say I don’t have my fair share of loosing trades.   I have always been interested in trading from a very early age and started reading what I could about technical analysis when I was about 16. I started hand drawing charts of the FSTE 100 and some stocks at about the same time.   Using all my savings... More