Quote from Spectre2007:
probability sheet
I have templates of this sheet I use for trades:
1) is price above or below open
2) is price above yesterdays high or yesterdays low
3) is price near weekly, monthly high or low
4) is price above or below MA's
5) is direction of MA's up or down
6) 60 minute trend up or down (MA's dir good enough) Linear regression on 60 minute bars.
7) last trade bias win or loose. (long or short) which made money.
8) report day?
9) other correlated markets same direction
its very hard for MM's or for the market to take money away from you...if you use probability factors in your trading.