Hello Everyone !
On this Article I will explain the basics on defining and executing a Trade Setup.
It doesn't matters if we are analyzing Forex, Futures, Stocks or any other instrument, the rules are the same and they work anywhere.
An important step we must follow to document what are we doing is to write the rules in a way that anyone can understand and trade in the same way.
As a suggestion, try to avoid long and complex conditions and try to differentiate the setup into these 3 different items :
- Entry Trigger
A group of conditions that when all in agreement trigger an Entry Signal - Filter Conditions
A group of conditions that must agree to accept an Entry Signal
Usually we can put all these conditions together with #1 - Exit Trigger
A group of conditions that when all in agreement trigger an Exit Signal.
Any remaining position is closed when this happens.
Examples of #1) Entry Trigger
- Fast Line crosses above Slow Line to Enter Long
- Oscillator leaves oversold area to Enter Long
- System is already Long ( so we dont add more position )
- System is Short ( so we wait this position to finish at target or stop )
- Higher Time Frame Filter is not aligned
Examples of #3 Exit Trigger can be similar to #1
With Markers Plus, now we can Create, Visualize and Auto Trade any Logic that we define :
On the Following Post I will show several Trade Setup Examples and its implementation using Markers Plus Tools
Best Regards,
Pablo Maglio
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 Skype id : pmaglio       |
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