market sentiment is positive Logical Outline for deciding what to trade.

This
Pros is the algorithm that should be running in your
signal generated to go long
head, every time you trade..
market may reverse
Cons
possible missing information

Long Pro is Short Con, and vice versa Previous EUR/USD Trades
Yesterday Were market conditions similar?
What was the outcome?

Previous EUR/USD Trades

Last Week Were market conditions similar?
What was the outcome?
market may reverse
Pros Previous EUR/USD Trades
possible missing information
Last Month Were market conditions similar?
market sentiment is positive
Cons What was the outcome?
signal generated to go long

At this point, you should have thought of

all the options and possible outcomes
may have another opportunity to enter
Pros
no risk

can miss a great trade

Cons
if i miss opportunity there may not be another one

logic of a trade.mmap - 2/16/2006 - Joe Gelet