Daily Trading Plan - Just to Re-Cap :)

Daily Trading Plan

1. Plot DP’s such as BRN,PDH,PDC,PDL,RN & Proven Resistance/Support levels from daily chart
2. Develop market bias by answering below Q’s 

·          What is day’s trend; Up/Down?

·          Price opens in/out side of yesterday range?

·          Price gapped trend or counter trend?

·          Price trading above/below of DO/PDC?

·          IR formed above/below yesterday closing range

Read this before initiating trade:

1. FTA should be at least 15 points away, to allow scratching
2. Check if trapped traders create good order flow; Don't miss BOF of prominent levels
3. Don't risk more than 10 points per trade
4. Define exit levels before processing entry itself, you may get into TRAP right!
5. Never miss Fluids.
6. Check if critical mass (day traders booking profits/market counter gap down below PDL and reverse etc.) provides order flow to your trade.
7. Attempt counter trend FTC trade only if you think price exhausted (near to higher t/f level)
8. Don’t trade BOF while SAC pattern running/developing.
9. Don’t miss PP trade, if BOF exits at other extreme

Managing Trade:

1.     Hide SL behind DP, Swing High/Low, Flip’s and Pivots

2.     Move SL to cost and look to scratch if price reverse from FTA

3.     Do SAR trades only in case of TRAP entries (Or) You had one profitable trade already

4.     STOP trading for the day, once 2 SL triggered in a row

5.     Maximum trades per day, Four.