When Jeff was developing AK47 trade management software, his favorite parts was “Pre-Trade Analysis.” It showed my potential risk and reward for a trade. A pattern may look good, but adding the entry, target, and stop can make it look much better – or much worse.
Trade Scale, a Microsoft Excel application, allows you to compare up to six potential trades. It makes easier to separate the appealing trades from the ugly ones. An added advantage of Trade Scale is that it includes a $30 coupon towards the purchase of AK47.