ART of the Trade

Approximately 80% of your trades should always be in the direction of the daily trend

Approximately 80% of your trades should be in line with trend as determined by the 55 period EMA on the time frame you are studying.

You should plan a trade sequence in just one Fib zone. Never plan a trade that involves scaling into trades at more than 1 Fib zone.

Long trades should be triggered by which of the following

A majority of successful traders enter their position, gauge the market conditions, but never leaves a stop loss in place due to stop runs

If you planned to enter a long trade into Fib support zone, but the zone is violated for a short period of time it’s best to cancel a stop loss and see if the market snaps back

You don’t need to be in front of your trading computer from start to finish of a trade

It’s ok to adjust a stop loss to allow for a bigger loss than originally planned

I should only risk a fixed percentage of my account on all trades regardless of market conditions.

An acceptable percent risk for a very conservative trader with a tier 4 position is the following:

A sure fire way to manage your risk while trading is the following

In order to manage your risk effectively you will need these key pieces of information before you establish a trade