Hi guys
inspired by the signal assisstant on this website I recreated a "Setup Checklist" for my own quick use.
As you know I am a newbie and I felt that writing down the rough conditions which have to be fulfilled to give a setup value
in a table / list is a good way to keep the things I read in the PA Protocol in mind when trading.
So to speak its a highly simplified and shortened abstract of what I read in the protocol.
It's second purpose is to give me a greater feel of objectivity and a clear routine when judging a setup.
I post it here because I would like to know what all of you guys (and Graham in particular^^) think of it.
Feel free to comment, correct, add something etc.
I hope it's of some use, or will be after revising.
As it is much more well-arranged in a table I'll attach a image too.
inspired by the signal assisstant on this website I recreated a "Setup Checklist" for my own quick use.
As you know I am a newbie and I felt that writing down the rough conditions which have to be fulfilled to give a setup value
in a table / list is a good way to keep the things I read in the PA Protocol in mind when trading.
So to speak its a highly simplified and shortened abstract of what I read in the protocol.
It's second purpose is to give me a greater feel of objectivity and a clear routine when judging a setup.
I post it here because I would like to know what all of you guys (and Graham in particular^^) think of it.
Feel free to comment, correct, add something etc.
I hope it's of some use, or will be after revising.
As it is much more well-arranged in a table I'll attach a image too.
- Setup Checklist
Market Condition: Trending
#1: With Trend
Checkpoints:
Good shaped and sized signal in trend direction
Signal formed near the mean value
Signal formed on clear swing level
Sorrounding of the signal is not choppy
No weekly or monthly S/R line or mean value in the way
(min RR 1:3)
#2: Counter Trend
/ Mean Reversal
Checkpoints:
Good shaped and sized signal against trend direction
Signal formed away from the mean value, there is a clear gap
Signal formed on clear swing level
Sorrounding of the signal is not choppy
No weekly or monthly S/R line or mean value in the way
(min RR 1:3)
Market Condition: Ranging Market
Checkpoints:
Good shaped and sized Signal formed at top or bottom of the ranging area
Sorrounding of the signal is not choppy
No weekly or monthly S/R line or mean value in the way
(min RR 1:3)
