Trade Entry Notes

When entering a trade keep track of the Currency Pair, Risk on that trade, ATR, and the price.

Keep track of the Currency Pair and the Risk to determine how much risk you can allot to other trades.

For instance, if you have already maxed out your Long risk eg: 2% Long on USD/EUR you cannot take another Long trade with either the USD pair or a EUR pair.

Although according to VPs rule you could Short a USD or a EUR pairs up to 2%.

The reason why you want to keep track of the ATR level and price when you opened the trade is because you want to know when you have hit 2 ATRs past your entry.

This is because then you can move your trailing stop-loss up to 1.5 ATR from the current level. You will always have to remember the ATR at entry for your trailing stop loss calculation.