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In this interview, UK currency trader Jason Graystone sits down on the Desire To Trade podcast to share how he built a full-time routine around the London open. He talks candidly about blowing money on “get rich quick” courses, then rebuilding with real process: testing, journaling, and trading only what he understands. Today he day trades a few focused hours, swing trades higher timeframes, and treats trading like a business—not a gamble.
In this piece, you’ll learn Jason’s practical playbook: how he backtests until a strategy shows positive expectancy, why he uses a combined technical scoring (CTS) checklist to curb impulse, and where advanced patterns like Gartley/Bat/Cypher actually fit. We’ll hit risk-reward math, handling drawdowns with a ~50% win rate, sticking to one strategy long enough to develop discretion, and the psychology habits that keep him consistent—so you can borrow what works and skip the pain he already paid for.
Jason Graystone Playbook & Strategy: How He Actually Trades
Market Focus & Daily Routine
Jason keeps a tight schedule, so decisions are made when liquidity is best and noise is lowest. He centers his active day around the London session, then switches to higher-timeframe management later. The goal: fewer, higher-quality decisions with the same repeatable checklist.
- Trade primary focus: FX majors and high-liquidity crosses; add indices only if spreads/volatility are favorable.
- Core sessions: Pre-London prep (30–45 min), active London window (first 2–3 hours), brief New York overlap if a setup is near completion.
- Screens: Higher timeframe (H4/H1) for bias and structure, execution on M15/M5 only when the higher timeframe aligns.
- No trade if: major news within 15 minutes of a potential trigger or spread > average by 50% at entry.
- Pre-market checklist: mark key structure (prior swing highs/lows, weekly levels), measure ATR, log overnight range, and update watchlist with CTS (combined technical score).
Bias, Structure & the CTS Checklist
He builds a directional “why” before hunting entries. A simple scoring model forces consistency and keeps emotion out. If the math says “pass,” he passes.
- Assign +1 for each of the following at potential zones: higher-timeframe trend alignment, fresh support/resistance, prior role reversal, 38.2–61.8% retracement confluence, measured move symmetry, RSI divergence, and clean price action trigger.
- Minimum score to consider a trade: 3; preferred: 4–6; automatic “no” if score < 3 or if two signals directly conflict (e.g., uptrend but bearish structure break).
- Bias is invalidated on a close beyond the most recent swing structure (not intra-bar).
- Limit the watchlist to 5–8 instruments to avoid “score shopping.”
- Re-score a setup only after a new candle closes on the higher timeframe.
Entry Triggers & Execution
Entries are simple on purpose: one clear pattern at a time, then replicate. The idea is to let the market come to your level, not chase candles.
- Accepted entry patterns: (a) higher-timeframe pullback to structure with lower-timeframe engulfing/inside-bar break, (b) double-bottom/top with RSI divergence at a pre-marked level, (c) advanced harmonic completion (Gartley/Bat/Cypher) only when CTS ≥ 4.
- Use limit orders at pre-planned prices when the structure is clear; otherwise, use stop orders above/below trigger candles; avoid market orders except for management.
- Confirmation rule: the trigger candle’s close must be in the trade direction and within ATR(14) of the level (no extended closes).
- No entry if the next scheduled high-impact news is inside your initial stop distance in time (e.g., < 1× ATR minutes away on the execution timeframe).
- Maximum simultaneous correlated positions: 2 in the same base or quote currency.
Risk, Sizing & Portfolio Heat
Jason treats risk as inventory: each trade carries a fixed “unit” of potential loss. He caps total heat, so one bad hour can’t sink the day.
- Fixed fractional risk per trade: 0.5R–1.0R of account; beginners stick to 0.5R.
- Initial stop: beyond the structure that defines the setup (e.g., under swing low for longs) plus a volatility buffer = 0.25× ATR(14) on the execution timeframe.
- Position size = Risk $ / Stop distance (in pips/points) adjusted for contract value; round down to the nearest tradable lot.
- Portfolio heat cap: 3R across open positions; if taking a new trade pushes heat above 3R, skip it or reduce size.
- Daily stop: −2R realized; weekly stop: −5R; after hit, cease new entries and review journal.
Trade Management & Exits
Management is standardized to avoid tinkering. He protects downside first, then lets the upside breathe.
- First target (T1): at 1R or the next structure level (whichever comes first); take partials of 50% at T1.
- Move stop to break-even only after either T1 is achieved or a close occurs beyond the trigger level plus 0.5× ATR.
- Trail remainder using structure: move stop under/over the last confirmed swing only on candle close; do not trail intra-bar.
- If momentum stalls (three consecutive small-range candles against your position near the target), reduce by another 25%.
- Hard exit on opposite CTS signal (score flips and structure breaks), even if the target is not yet hit.
Pattern Module: Harmonics Done Right
Patterns are a tool, not a religion. Jason uses them when they complete a pre-planned structure, and the rest of the checklist agrees.
- Validate ratios within tolerance (±0.03 on key fib legs) and require a clear PRZ (potential reversal zone) overlapping prior structure.
- Enter on completion only if there’s a lower-timeframe trigger (engulf/inside-break) within 1× ATR of the PRZ; skip if price tears straight through.
- Stops belong beyond the PRZ extremity plus 0.25× ATR; targets map first to the pattern’s B point, then to A (partials at each).
- Maximum pattern trades per day: 2; avoid stacking multiple similar patterns on the same pair.
- If a news catalyst invalidates the PRZ within the next candle, cancel the order.
News, Volatility & “Do Nothing” Rules
Sitting out is part of the edge. The plan defines when not to play.
- No fresh entries 15 minutes before or after red-flag events on the instrument’s currency/underlying; widen to 30 minutes if ATR is > 1.5× its 3-month median.
- If the spread widens to > 1.5× usual at your planned trigger, cancel and re-evaluate at the next close.
- During major sessions transition (London–NY), reduce size by 50% unless CTS ≥ 5.
- Skip days after hitting the daily stop or after three consecutive losers; review and return next session.
- If VIX (or FX volatility proxy) spikes beyond a pre-defined threshold, cut open risk to ≤ 2R until conditions normalize.
Backtesting, Expectancy & Sample Size
The confidence to execute comes from numbers. He won’t trade a rule set live until the math is proven over a meaningful sample.
- Minimum historical sample before live: 100 trades per setup and timeframe, over mixed market conditions; aim for 200+ across assets.
- Record for each trade: CTS, entry/stop/targets, ATR, session, pattern tag, outcome in R, and screenshots.
- Expectancy threshold: > +0.2R per trade with max drawdown within comfort (e.g., ≤ 10R) in backtest; if expectancy < +0.2R, refine or drop.
- Forward-test on a small size (0.25R) for 20–30 trades; only scale to normal risk when forward results track backtest within ±10%.
- Re-validate quarterly; if live performance deviates by > 15% from backtest expectancy, pause and diagnose.
Journal, Review & Iteration
A clean journal turns “experience” into a system upgrade. The review loop is scheduled, not optional.
- Tag every trade with: setup type, CTS, session window, reason to exit, and any discretionary override.
- Weekly review: export outcomes by tag; cut the bottom 10% tags (negative expectancy) for the next week.
- Screenshot rules: one pre-entry plan, one post-exit result, and one annotated “what I saw” image.
- Identify your “kill switches”: time of day, emotion, or market condition where mistakes cluster; set an automatic stop-trade rule there.
- Create a one-page SOP (standard operating procedures) and read it before each session.
Psychology & Lifestyle Habits
Consistency is the superpower. He treats trading like a craft performed on a schedule, not a slot machine.
- One primary setup for 90 days; no new strategy exploration until 50 live trades are logged on the current one.
- Fixed routine: pre-market walk, short breathing drill before entries, post-trade debrief even on winners.
- Keep non-trading income or savings buffer so you never force trades to “pay bills.”
- Define a maximum screen time per session (e.g., 3 hours); when the timer ends, flatten discretionary impulses and step away.
- No equity curve watching intraday; only review P&L at session end.
Multi-Timeframe Play & Scaling
He blends timeframes so entries are tight while the idea is anchored to structure. Scaling is deliberate, not constant nibbling.
- Determine bias on H4/H1, plan the zone on H1/M30, and trigger on M15/M5; all three layers must agree.
- Scale-in only at fresh confirmations (new structure break and retest) with the overall risk capped by the heat rule.
- Never add to a loser; adds are allowed only after partials taken and stop moves to reduce net risk.
- For swing positions held overnight, halve the size unless the stop is placed beyond a daily level.
- If the higher timeframe invalidates (close through key structure), exit all lower-timeframe adds immediately.
Example Trade Blueprint (Template)
A simple blueprint removes hesitation. Copy, adapt, and reuse until it’s muscle memory.
- Identify trend on H1 (higher highs/lows for longs).
- Mark pullback zone at prior structure + 50–61.8% retracement; ensure ATR is not elevated beyond 1.5× median.
- Wait for M15 bullish engulfing closing inside the zone; confirm RSI divergence, optional, but adds to CTS.
- Place stop below the swing low − 0.25× ATR; risk = 0.5R–1.0R.
- T1 at 1R or next structure; take 50% off, move stop to breakeven on close beyond entry + 0.5× ATR; trail remainder under subsequent swing lows until stopped or target2 hit.
Build A Repeatable Routine And Trade Only Your Proven Edge
Jason Graystone hammers the idea that routine is the real edge most traders skip. He anchors his day to specific sessions, looks at the same dashboards in the same order, and asks the same questions before touching the keyboard. The point is to remove improvisation so trades come from process, not mood. When the routine runs first, your entries become boringly consistent—and that’s exactly what you want.
He also pushes you to define what “proven” means in numbers, not vibes. Track one setup until you have a large, mixed sample and a positive expectancy, then ignore everything that doesn’t match it. If you can’t describe the checklist in plain English, you don’t have an edge yet—go back to testing. Journal every trade against that checklist and stop as soon as you drift from it. Graystone’s rule of thumb: if it’s not written down and repeatable, it’s not part of your playbook.
Size Risk Small, Cap Portfolio Heat, Survive Ugly Drawdowns
Jason Graystone keeps risk tiny so a single idea can’t wreck the week. He talks in “R,” not dollars, and makes each trade a fixed, pre-decided slice of risk so outcomes are comparable. Small risk preserves emotional control and lets the edge play out over dozens of trades. When the stop is hit, the cost is just one unit—not a story that spirals.
He also caps total portfolio heat, so multiple open trades don’t stack into one oversized bet. If a new setup would push exposure past his limit, he skips it or resizes without hesitation. Daily and weekly loss limits act as circuit breakers that force review instead of revenge trades. Graystone’s mindset is simple: protect capital first, protect psychology second, and the returns look after themselves.
Let Mechanics Lead, Not Predictions: Score Setups Before Triggering
Jason Graystone’s edge starts with mechanics, not forecasts about where price “should” go. He builds a simple scoring checklist that rates trend alignment, structure, confluence, and the trigger candle—then he obeys the score. If the number isn’t there, he passes without negotiating. This keeps decisions consistent across days and emotions, so the plan runs the trader, not the other way around.
He treats discretion as a reward for following rules, not a shortcut around them. Predictions might make a great story, but the score decides risk, entry, and whether a setup earns capital. When the mechanics are tight, wins and losses feel routine—and that’s exactly how Graystone keeps his execution calm and repeatable.
Diversify By Underlying, Strategy, And Duration To Smooth Equity
Jason Graystone frames diversification as risk control, not the collection of symbols. He spreads exposure across uncorrelated underlyings so one macro theme can’t dominate his P&L. He mixes strategies that win in different regimes—trend, mean-revert, and pattern modules—so he’s not hostage to a single edge’s cold streak. He also staggers holding periods, pairing intraday plays with swing positions to avoid every trade breathing the same volatility. Correlation counts as position size in his world; two highly correlated trades are basically one big bet.
To keep it practical, Graystone caps exposure per theme and per currency so clustering doesn’t sneak in. If EUR and GBP are moving on the same driver, he picks the cleaner setup and passes on the rest. He’ll keep an intraday position small if a swing in the same direction is already on, letting the longer context do the heavy lifting. The outcome is a steadier equity curve where losses show up as manageable dips, not cliffs.
Use Volatility To Place Stops, Targets, And Position Sizes
Jason Graystone builds his risk around what the market is actually doing, not what he hopes it will do. He measures current volatility and uses it to set stops outside the noise so a normal wiggle doesn’t knock him out. Targets scale with that same volatility, keeping reward realistic relative to the recent range. Position size then adapts to the stop distance, so each trade risks the same “R” regardless of market mood.
When volatility expands, he widens stops and cuts size; when it contracts, he tightens stops and can size a bit larger—still within his heat limits. This keeps the math stable across calm and chaotic sessions, which is how Graystone maintains consistency. Volatility becomes a dial for precision, not an excuse to gamble.
Jason Graystone’s core message is simple and repeatable: build a routine, trade a small set of plays, and let mechanics—not predictions—decide when you commit risk. He anchors around the London open for clean liquidity, sets a higher-timeframe bias first, then looks for a lower-timeframe trigger only when the story lines up. A combined technical score keeps him honest, so if the setup doesn’t earn enough points, it doesn’t get capital. He talks in R, not dollars, caps portfolio heat, and expects drawdowns as the cost of playing a positive-expectancy game with roughly a coin-flip win rate. The edge lives in the math and the discipline to follow it when price wiggles against you.
Graystone also treats volatility as the governor of every decision—stops sit outside the noise, targets fit the current range, and position size flexes so each trade risks the same unit. He mixes timeframes and modules thoughtfully: intraday for precision, swing for context, and pattern work like Gartley/Bat/Cypher only when they complete at structure and the score agrees. Journaling, forward-testing, and periodic reviews turn experience into improvements; anything that consistently underperforms gets cut. The net result is a businesslike approach that protects psychology and capital, smooths the equity curve through diversification of underlying, strategy, and duration, and lets consistency—not hero calls—do the heavy lifting over hundreds of trades.
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