Rule
Scores
Score book:
|
Sr |
Guideline/Rule |
(+)ve |
(-)ve |
|
1 |
Once
the trade goes to 30 pips in favor, move the stop loss to break even |
2 |
1 |
|
2 |
First day of the trade should
be in the direction of recent strong trend |
5 |
0 |
|
3 |
Wait for RSI and
candlestick reversal pattern on 1hr chart before taking a trade |
3 |
0 |
|
4 |
When RSI reaches OB/OS, watch out break of
recent trendline on 5 mins chart to enter/exit trade |
3 |
0 |
|
5 |
Have plan for 'what if I
am wrong' situations. |
4 |
0 |
|
6 |
Monthly pivot points have strength |
1 |
0 |
|
7 |
You can take RSI strategy if the setup is
correct even when you are going into weekend closure |
2 |
0 |
|
8 |
When RSI is in oversold area and the price is
near trendline support or any other support, do not short and vice verse |
2 |
0 |
|
9 |
Do not take trade against the trend |
3 |
0 |
|
10 |
Be aware of news announcements |
2 |
0 |
|
11 |
When there is no clear target, use fib levels
to decide |
- |
- |
|
12 |
Profit from #11 overcomes, losses from it on
any given day |
0 |
1 |
|
13 |
Once asian session’s support is broken, the
move is significant |
2 |
1 |
|
14 |
Close the trade if the trade did not work out
in the estimated time period |
1 |
0 |
|
15 |
Stop trading for the day if you have 2 trades
in losses or 70 pips in total |
1 |
0 |
|
Sr |
Strategy |
(+)ve |
(-)ve |
|
1 |
Reduce
risk strategy - score |
7 |
1 |
|
98 |
-20 |
||
|
2 |
My Analysis is correct - score |
3 |
0 |
|
255 |
-11 |
