Once a trading session starts, the action is fast and furious and I haven’t got much time to spare. I don’t want to be in a position of writing down ranges, calculating stop and target levels by hand, or manually working out how many contracts I can take.
Figure 13.1 is a screenshot of a spreadsheet calculator I use to do this work for me.
Setup begins about ten minutes before the trading session opens. At this time I ensure all the information in the bottom half of the spreadsheet is up to date and correct, as follows.
I access the price quote for the contract I’m trading. This ...