AU weekly review This week we had 4 trades that fit our go to set ups perfectly. 2 solid runners to the start week, followed by 2 small wins with partials taken for profit and the remainder taken out for BE.
The analysis for these start on the 1hr time frame and in some cases even higher.
We mark out out key areas, our overall bias and only then drop down the 15, 5 and even the 1min for the actually entry depending on the style of trade that we have forecast.
No matter what strat you use to trade it is crucial that you only drop down the lower time frames looking for entries after you have first marked out the key areas for both entries and potential PTs first.
Another key lesson to take away from these trades is the importance of taking partials as the trade starts to move in your favor. This allows you to reduce risk quickly, and turn other wise potential losses into small wins.
This alone will greatly improve your strike rate and in turn reduce draw down and improve your over all psychology which is arguably the most important aspect of trading.
