in Q2, I came up with a rubrics for the best A trade that i can find which has all criteria so I can hit the hardest to gain the most.
The results were not bad. I did manage to score some big hits on these A trades, but I have also given back some profits as some parameters were not properly spelled out.
however, as this was still new, I could not develop the conviction to hold things through.
It is time for review.
1. A trade looks out for the best big picture to trade on. But it does not allocate a gd section to reward aligning h1 ” now ” momentum to the big picture.
2. The definition and goals of A trade has also not been properly defined and worded out, so I will dedicate sometime to write it out.
I have created 2 sub-section to deal with both:
A)big picture- that identifies potential space and the ” true” direction.
B) h1 “now” momentum- since a larger amt of $$ will be risked, I have placed more emphasis on entering positions just when the h1 momentum is in line with big picture direction.
Hopefully, this will reduce the anxiety caused by risking a larger amount of $$. Triggerpoint system will be VETO factor to ensure trade runs immediately.
2. I have also included an empty column to provide description on how I intend to minimize my risk/ cut loss or batching in my positions. Previously I had mental plans on where to exit shld trade not out good. but now I will put my mental plans onto my checklist as well.