13. The Trade Plan

What to do in a daily basis after opening charts.

1. Is the trade Swing or Intraday?
 - Swing trades HTF are Monthly and Weekly while ETF is Daily
 - Swing2 trade HTF are Weekly and Daily while ETF is H4
 - Intraday trades HTF are Daily and H4 while ETF is H1

2. Identify the Trend on all HTF and draw SD zones on all Time Frames

3. If HTF and ETF trends are not on the chart above, move to the next chart. we will only trade charts with these directions based on the charts.

4. If price is far from the target zone, set a price alert

5. take note of the structure of trade

 - is the strength of arrival strong? 

 - is the time spend on the base too long?

 - is the arrival to the SD zone fast?

 - is there 1:3 RR for swing trade / 1:2 RR for intraday

 - is the SD zone fresh?

 - is the SD a CP or RP

 - is there Level on Level wrt to HTF?

6. Note what zone is In Control for the Higher time Frame

7. Set Entry Price as L1, SL as L2 and TP as 1:2 or 1:3

8. News:

 - for profitable trades, close off all trades affected by the currency 30 mins before the news (AU news means close all au positions). 

 - for profitable trades, close all positions during major EUR and US news. Example of Major News are Interest rate announcements. "If big news comes out if u want to place order always place order at month or week sd zone" - Lan

 - for positions that are in the red, leave the trade.

9. when to move SL = BE? 

10. follow the trade plan. Either Hit SL or TP. no middle ground.