2. Trading plan Example.

You can use the trading plan below to help formulate your trading plan. Remember, your trading plan is a personal roadmap you should therefore consider your own, unique circumstances when creating one!

Example My Trading Plan.

Time of Trade : 08:30 – 12:00 | 15:00 – 18:00
Trades per Day : 3 Maximum
Break after each trade : 15-30 mins
Pairs : EUR/USD, GBP/JPY, USDJPY
Goal : 100 Pips per day | 15-25 %
News Check : CNN Money / Bloomberg /Forexfactory
Pre-Market : Check before 15:30

Chart Setup :

  1. Determine levels in H1-H4 and High&Low Of daily candle
  2. Determine major trend in HTF
  3. Determine near Res/Sup in H4-H1
  4. Trade in H1

Trade Setup :

  1. SL = 5-10 pips ( depends on trend )
  2. Tp = 5-20 pips ( Close If see Reversal pattern in L TF )
  3. Lot = each 200 $ : 0.02 Lot
  4. 1-10 Positions per situation

  1. Trend Line :
    IF Price has “2” Touches I will ENTER at Third touch with Lower TF Confirmation ( Reversal Pattern )
    IF have “FAKE OUT” Use that TRENDLINE in future
    IF have “REJECTION” from Trendline ENTER at Second Candle ( Wait for close of reject candle )
    In TL break , should check another TL in Lower TF
    In TL break , should Check Levels ( Maybe it will be a Lastkiss )
    In Up or Down trend should WAIT for breaking small Down or Up trend.

  1. Breakout:
    IF a level breaks with a STRONG Candle I will wait for retest ( at least 4-5 Candles ) Enter with LTF
    Confirmation
    IF price Break TL ( Check Upper TF to sure about ) Wait for retest , ENTER at lower TF

  1. Wicks:
    Check H1-H4
    Wicks should be middle of trend
    Wicks should not be to many long ( kangaroo tail )
    Enter After candle close and in LTF
    Wait for Big Jump and Fall.

  1. Momentum Candle:
    Determine momentum candle and check R/S Enter after Close
    momentum candle , Enter after price goes up or down of candle.

Homework assignment:

Make your own trading plan.

error: Content is protected !!