Saturday, November 19, 2016

My Check list



This are the combination of the strategy and tools that I learn for a year. Which I have combine them and use them in accordance of need and settings.  a little reminder if you have use even single tool or strategy aginst the trade the result is bad. So trend is your Friend alway trade on trend for your safety.

here is my check list



PART 1
  1. delete all drawing tools 
  2. Identify trend  use moving average 
  3. Create a pukot 
  4. Confirm trend  on 4hrs 
  5.  Identify  major support and ressistance 
  6. Confirm 1 day trend 
  7. identify major support and resistance 
  8. Confirm pukot using Pivot    
  9. Identify direction using stochistics  
  10. confirm direction of stochastic using 4hrs 
  11. confirm direction of stochastic using 1Day
  12. identify point of entry  using  
  • Higher - higher high and low higher low - for uptrend 
  • High - Lower high and Low - lower low - for downtrend   
SPECIFIC INSTRUCTION
after you have done all those 12 steps in part 1 its time to analyze the chart combine your chart using 1hr time frame , 5 min time frame, 1min time frame... Analyze the possible direction to go combine your chart 1hr time frame, 4hrs time frame and 1 Day time frame. 

In this part it is critical for you to see what is not obvious that is why this is the right time to pray. Pray not just to win but rather pray that you will see the unseen or misslook. (this step I use to fight the  fear and the greed that is inside me)   

Then proceed to Part 2
  1. Identify entry need to ignore  - oposite trend - use moving average  and stochastic 
  2. When we have point of entry Identify how many pips  to get using support resistance  
  3. identify piont of turn or stop using previous pivot or support and resistance  
  4. identify stop lost (be carefull with this )       
  5. if no piont of entry to take or malayo pa  identify pattern 
  6. Head shoulder  pattern
  7. double tap   
  8. Consolidation (if 4hrs expect long trending next up or down)
  9. Over sold or over bought (boilenger and RSI) 
  10. Check Fundamental and identify market movers 
  • GDP 
  • CPI
  • JOBLESS CLAIMS
  • NON FARM PAYROL (check previous data )
  • FOMC
  • 3 red star NEWS
If you dont have major trade switch to scalping
  • Candle Stick Engulfing pattern (trade on first 3 candles only 1hr)
  • Overbought or Oversold (stochastic)(be watchful on fake direction dont panic)     

You may use this checklist improve it in accordance to your personality.

(video about this checklist will be uploaded soon)