Trading plan

mark8par

Forum Helper
Moderator
Hi,

I have been going through training on the babypips school and now The Forex Guy's content. I am trying to put a trading plan together but want to see an example of how it is set out and the level of detail that is put into it. I know each plan is individual so I'm not just looking to be lazy and copy it as I know that will not work.

I hope I have not offended anyone by asking this

Thanks

Mark
 

lukyman

Casual Member
Hi Mark. That was a really good 'ask', and I also would like to see ideas for trade plans.
Pretty please.
 

leonardo

Casual Member
Hi Mark,

As you said, each trading plan is "unique", and by that I mean that it should be done so that fits the person and the trading style of the owner.

A trading plan should be done essentially to force yourself to follow certain rules and routines to monitor your trades and markets in a more broad way.

Your trading plan should answer to questions like: What TF am I trading on (impling-> which TF do i use to decide BIAS, to set S/R, to analyze, to take entries)? Which securities am I taking in consideration? What is my definition of a tradable pinbar/IB/OB ? When do I check markets for entry? How many times per day should I monitor my trades? What is my risk profile? etc etc

Make it schematic, like a brainstorming: Its purpouse is to help you highlighting what you already know (mostly).

When is a trading plan important? Well imho during 2 moments: start and at maturity of a trading life.
Why? because in the start you are reluctant to follow rules (especially regarding risk and quality of trades) and you need to make yours the routines included in the Plan. In the stage of "maturity", I consider it as important as in the start as you may start to "forget" or to be too self-confident, which could tempt you to exceed your parameters as your experience allows you to do so.

Sorry for the late answer and i hope it helps a bit. I know I didn't really answer your question, but I think your question couldn't have an answer in a way that could help you out.

Best of luck,
Leonardo
 

rakhi

Casual Member
Trading Plan A systematic method for screening and evaluating stocks, determining the amount of risk that is or should be taken, and formulating short and long-term investment objectives.
 
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