Quality Pages: Grade your trades and stop taking the wrong trade.
These several Quality Score pages can be used to evaluate a trade you are considering. It takes a few moments to add up a checklist of positive and negative details and get a numerical score for the potential trade. Get familiar with the check items and soon it will be a thirty second job to fill it out and see what the score is for this next trade.
Quality Score Page for EURUSD
Quality Score Page for USDJPY
Quality Score Page for AUDUSD
Quality Score Page Generic
Generally, I have found that a score of 15 to 20 is a dividing line between a good or bad trade. It's not a hard line, but it will give you a surprising look at what you are about to do.
The system does not relie on a particular indicator. It tends to consider other things such as going with the trend or opposing the trend, trying to hit a top or bottom (bad), ignoring support and resistance. One thing that I stress is channel placement. Price moves up and down in a dynamic channel. If you are buying at the top of a channel, that is more risky than buying at the bottom side of a channel. There are big channels (long term) as well as small (short term) channels.
Feel free to ignore any particular check item. You have to check it off to either add or substract from your score.
I've provided several pages which are identical except for the title (EURUSD , USDJPY, etc) so it is easier to work on one page for one currency and make changes on that page, then switch to another currency and have a page already setup for that. You can easily download the page and edit the questions to suit you and have your own version of the checklist.
It is a irritation at times to have the checklist standing between you and a trade, but I hope it will remind you of the important considerations that each trade depends on. You don't have to do the checklist for the rest of your career. Use it for a week or two and the considerations will get written into your brain.
Good luck!
DISCLAIMER: Just to touch base on legal matters, I make no claims that these tools will solve your problems, make you money or anything else. They are offered to be helpful. It is your responsibility to evaluate them and decide if they are good or bad. This site and this author take no responsibility for your trading decisions. Forex will take your money, if you don't know what you are doing.