Money Management and Position Size
1. Maximum allowable risk per trade is 2% at all times based on current balance. This will also dictate position size.
2. Implementation of a weekly 60 PIPS kill switch. If this amount is hit I will stop trading immediately for the remainder of the week.
3. No target PIPs. Take what the market is giving base on present behavior.
Time Periods
1. Trading time is in the morning from 5:00AM to 7:30AM Pacific time (NY session).
2. Trading time frame is 15Min
3. Light trading or No trading on Major News and Bank announcements
Chart Setup
1. Candle stick chart.
2. Clean chart no indicators
3. Supply and Demand (S/R) lines
FX Pairs
1. Any highly liquid foreign exchange pairs that offers suffcient average daily range and reasonable spreads.
Stop Loss and Profit Target
1. Maximum 12 pips stop loss
2. Whatever the market gives at any given time. Always take what you can its better than nothing.
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