December 8, 2015

The F2G Trading System Checklist

Disclaimer: I'm now a registered representative with Series 7 and 63 qualifications. What I'm about to discuss is NOT ADVICE just what I believe and how I trade. This blog is for information and trading journal purposes only. Continued reading of this and ANY of my posts constitutes your acknowledgement of and adherence to this disclaimer. Thanks for your understanding.

The F2G Trading System Checklist:

1. Frequently update sup/res on all timeframes to better characterize the current price action

2. Plan your trade, trade the plan

3. Form trade thesis (HTF sup/res/chart pattern most important)

4. Set high probability entry based on HTF sup/res/chart pattern, LTF, or when something is wrong with the price action eg. market can't quite reach sup/res (remember HTF sup/res/chart pattern are always more important than LTF)

5. Set stop at the price that proves the trade thesis is wrong (risk management, consider reversing trade)

6. Set high probability profit target based on LTF sup/res/chart pattern for at least half of position to lock in profits, then HTF for the rest of the position. Focus on singles, not home runs, add to winners/re-enter if flat if trade thesis still correct

7. Select the proper position size (money and emotion/psychology/ego management)

8. If confused or if price action isn't clear, don't trade, wait for clarity because no trade is better than a bad trade

Questions? Submit them below in comments sections, or send me a private email and I'll respond when I get the chance. Thanks for stopping by F2G!

Credit: I've complied this trading checklist from my 8+ years of experience, but most of these lessons came from some of the most successful traders on the planet: @Modern_Rock, @_Lakai_, @InvestorsLive, @millerdon, @alphatrends, @mikebellafiore, @kroyrunner89, and @steenbab.

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