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1. Clear Entry and Exit Rules:
Entry: Look for price action confirmation (candlestick patterns, support/resistance breaks) and combine that with indicators like the 50 EMA and 200 EMA to confirm the trend direction.
Exit: Set clear profit targets using ATR-based stops or risk-to-reward ratios, and adjust your exit based on how the market moves.
2. Risk Management:
Risk per Trade: Risk no more than 1-2% of your total account balance on each trade to preserve capital.
Stop-Loss: Use ATR to set your stop-loss, adjusting based on market volatility (larger ATR = larger stop-loss).
Position Sizing: Calculate the position size based on the percentage you're willing to risk on each trade, keeping it consistent.
3. Time Frame Alignment:
For day trading, use the 1-hour or 30-minute charts to capture short-term market moves.
For swing trading, use the 4-hour or daily charts for a broader view, allowing you to hold positions longer and target larger moves.
4. Market Conditions:
Avoid trading during major news events unless you're comfortable with high volatility.
Check for market trends before taking trades, and ensure the market isnβt too choppy or sideways.
Does this breakdown help you feel clearer about your strategy? Ready to start applying it to your next trades?
@abk_signalβοΈ
