A cake recipe: ingredients, order, time in the oven. With a good recipe, the cake comes out the same no matter who bakes it.
- Market and time: bitcoin, in the evening.
- Style: trades lasting a few days, 1Y and 1M scales.
- Entry: trend up on 1Y; price near support on 1M; a candle with a long lower wick has appeared at support.
- Stop and target: stop beyond support with a buffer of half an ATR; target just below the next resistance; profit at least twice the risk.
- Risk: 1% per trade, no more than one trade at once.
- When I don't trade: half an hour before three-star news; after two losses in a row — until tomorrow.