In currencies, I look for the following -
- To fade big moves to economic reports. Wait for the first reaction minutes after the report. Watch the first pullback and then trade against the retest of the reaction high using a place somewhere past the reaction point as a stop. Reverse the trade if the stop is hit and it makes sense.
- If the currency is in a range and breaks out, then goes back into the range, then looks to do it again, buy the move back into the range and many times it will go thru the range out the other side.
- Play trendlines, chart formations, fib numbers.
In stocks, I look for the following -
- To go long BioTech positive trial news(negative is too hard so far).
- Go long or short good or bad earnings news or up/downgrades once a bottom or top looks to be in.
- Fade the big month on TV when he moves a stock too far.
- Trade breakouts of stocks making a new high from a flat top.
- Go with trades from some popular Blog sites knowing the author will juice the stock or again if it reactions too much - fade the recommendation.
In any of the above cases, I make a list and a plan for each of the above cases. The only trades I make on the fly are from the Chat room or if I see an industry moving, I try to fine a good stock chart that goes with it.