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Trading Plan
Disclaimer
All reasonable steps and due diligence have been taken in preparing this
document. However, it may contain ideas that are not appropriate to you or your
style of trading, so do your own research and draw your own conclusions. By itself,
this document will not enhance your trading performance, nor will it prevent you
from incurring losses. Any losses that are incurred are the
sole responsibility of each trader.
What is Trading Plan?
Trading plan is a planning strategy that how you going to be successful in forex.
This is because; only you know your own trading style. With your possessed forex
skills and knowledge, how you going to survive in this risky business. If you fail to
plan,then you are planning to fail.
Forex Trader
Forex trading is risky investment and by doing forex trading you are aware that
you are putting your money at risk!
Don’t blame forex teachers, guru ,indicators and strategy when you lose. Because
forex is not about strategy or indicators. It is about how you understand the
forex market.
Know and Understand is different. To know how to trade forex it takes 1day 1
week to know. But to understand how, it might takes 1month, 1year and maybe 3
years to understand forex market.
Keep Practice And Don’t Give Up!
Don’t Expect too much on forex, don’t expect you learn forex today, tomorrow
you can buy a Lamborghini to drive.
Forex Need Your Time and Your Effort!
Don’t ever dream to be a billionaire if your startup capital is only 100usd.
Don’t you ever dream to become rich even a single day you cannot make profits.
Don’t be greedy!
Please be discipline!
Goal
What are Your Income Targets?
It is important to know your financial targets and to break them down into
daily/weekly bite size chunks.
If let say, your target is 30% profits,then how much pips you going to obtain in a
week, how much profits you going to obtain in a day.
Your targets are not idle fantasies; they must be based upon your back test and
forward test results.
Trading Goals
Setting goals is an essential part of your trading plan as they provide you with a
Beacon to work towards, the ability to track your progress and the motivation
required to get the job done.
You need to have your goal. Let say for example, at the end of this year, you want
to buy this and have an income with this amount. Make sure you gonna achieve
this goal.
How you make your dreams come true.
Set your Goal!!
With daily target, monthly income and consistent trading strategy will determine
how you going to achieve your goals.
Example:
Let say you want to buy car,
Price : 50,000usd
In a year, we have 12months,
so you need to obtain 5000usd in a month in order for you to buy a car.
In a month, we have 4 weeks.
So you need to achieve 1250usd in a week.
In a week, we have 5 days of trading.
So you need to successfully achieve 250usd in a day.
That is the reality; you have to achieve your daily target of 250usd per day! Then
you will have you car
Strategy
Market Instruments
What pair that you going to use to trade?
Know the pair movement. Focus on the pair that you like. For this case, I have my
own favorite pair to trade with. My favorite PAIR is
GBPUSD
EURUSD
AUDUSD
NZDUSD
You can find your own pair that you like and easy to understand. For me, I just
recommend you to trade on major pair only. It is easy to understand.
Time Frame
Time frame that you are going to use will vary from another forex trader and
depending on the trader and trading analysis.
My trading strategy and analysis on using time frame chart. Top Down Analysis,
from the big time frame to lower time frame.
Weekly & Daily – To determine the market direction
4 hour & 1 Hour – To make technical analysis
30minutes & 15 minutes – to find sharp entry
It might be differing to other trader. Maybe forex scalper they use 4hour chart to
determine market direction and find their entry at 5 minutes to 15minutes time
frame.
Find what suites you!
Diversify Trading Account
This is important.
For this strategy, you will need to diversify your trading account. Create forex
account separately according to what you need to use it.
For my strategy in diversify my trading account. I open 4 trading account. And I
will use each of account to each of my favorable trading strategy.
Account 1 : Price Action Trading
Account 2 : Day Trading Strategy (Easy Profits)
Account 3 : Scalping Strategy
Account 4 : Kamikaze (high risk account)
Kamikaze is account that I am ready to loss. Therefore when I saw a great setup I
will put full margin entry. High risk, high return. If this account is at Margin Call, I
will no regret and still have another account that I can continue to trade forex.
Simply put your money that you can afford to lose!
Good Luck!!
Click Here
Broker
You can use and register how many broker if you want. If it me. I use 1 broker for
1 trading strategy.
Such as my trading account
price action strategy ----->> Exness,
Easy Profits ----->> FBS
Scalping Strategy ----->> Instaforex
Kamikaze Account ----->> HotForex
So in this case, you will not putting your money into 1 basket.
Money Management
Risk
Determine risk that you are willing to loss. The risk suggested by professional is
1%-3%
So let say,
Your capital is 1000usd, so you will only risk 10usd from it.
Related Article : How You Can Make Money With Only 3% Risk
Stop Loss
Stop loss Is very important as it can prevent your account from margin call. But
using stop loss is depending on the strategy that forex trader’s use. Some of them
not using the stop loss, some of the using 50pips, 30pips, 200 pips that depends
on the strategy that they use.
Lot Sizing
The risk exposure of each position is directly related to its position size. Bigger
position size leads to greater monetary loss and results in higher risk exposure. It
is logical therefore that the position size you trade has to be evaluated based on
the amount of trading capital at your disposal, as well as the trading losses that
you are able to accommodate.
Formula Lot Size
Lot Size = risk/points
Capital : 1000usd
Risk : 3%
Risk Per Trade :30usd
Stop Loss : 50pips (500points)
Lot size : 30/500 = 0.06 lot
Capital
For the beginner, you can just start with 100usd. Just get enough. Try to grow this
small amount to 1000usd. See how you going to be successful and how consistent
you are.
Risk To Reward
It depends on the strategy that you use, is your strategy using stop loss. Set your
stop loss greater than the reward.
The best risk to reward ratio is
1 loss : 2 Rewards
1 loss : 3 Rewards
50pips loss : 100 pips win
50pips loss : 150 pips win
Full Time Trader
You want to become a Full Time Forex Trader?
This is how to calculate your monthly expenses roughly.
What you need to take account is:
House
Car
Utilities
Insurance
Loans
And others, that is depend on you. What You need to cover all this things first.
Let say if you want your monthly income is USD1000
Monthly trade we can estimate as 20days of working days.
USD1000 / 20 days trading = USD20
So that it is, you need to achieve USD20 for each day to cover your expenses.
In order for you to be fulltime forex trader, you need to consistenly make profits
of USD20 per day.
How Much Your Start Up Capital?
It is depend on you. How much you set your risk per trade.
If you risk your account with 1%risk.
20usd is 1% risk of USD2000 capital.
So you need to start with USD2000 capital.
You need to know this.
How much will be you daily target profits. Is it your monthly targeted is achieved
or not.
Every month you need to withdraw your money.
So consistently achieve your daily target.
Download This FREE Money Management Calculator ExcellSheet.
You can see how with your 100usd capital can grow. You can specify your risk and
daily target. Profits withdraw 50% each month.
Click Here To Download
Becoming Successful Forex Trader
Record your Trades
Recording all your trades is a must and is something all professional traders do
Routinely and Comprehensively. Details to write down include:
entries, exits, stops, targets,
S&R levels, open / close, high / low of day, duration of trades and key lessons
learnt why you loss.
Follow your trading plan
After you know and understand the forex market. You need to follow your
trading plan. What is the pair that you are going to use, what is the trading
strategy that you going to use and how much capital you going to start.
Do your backtest
It is also important for you to do back test. Because you will know how your
trading strategy will give you profits. How effective the strategy that you are
using. So that you can determine how much stop loss, how much target profits
that you want to do.
Follow your money management.
The money management is really important in trading as it will affect your growth
of your account.
Make sure you use high reward ratio like 1 loss to 2 rewards and 1 loss to 3
rewards.
Sometimes it depends, how your strategy is. For scalper, they not going to use
stop loss, but the target profits only 10pip-15pips. But their strategy hit target
profits.
Good Luck!

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Trading plan

  • 2. Trading Plan Disclaimer All reasonable steps and due diligence have been taken in preparing this document. However, it may contain ideas that are not appropriate to you or your style of trading, so do your own research and draw your own conclusions. By itself, this document will not enhance your trading performance, nor will it prevent you from incurring losses. Any losses that are incurred are the sole responsibility of each trader. What is Trading Plan? Trading plan is a planning strategy that how you going to be successful in forex. This is because; only you know your own trading style. With your possessed forex skills and knowledge, how you going to survive in this risky business. If you fail to plan,then you are planning to fail. Forex Trader Forex trading is risky investment and by doing forex trading you are aware that you are putting your money at risk! Don’t blame forex teachers, guru ,indicators and strategy when you lose. Because forex is not about strategy or indicators. It is about how you understand the forex market. Know and Understand is different. To know how to trade forex it takes 1day 1 week to know. But to understand how, it might takes 1month, 1year and maybe 3 years to understand forex market.
  • 3. Keep Practice And Don’t Give Up! Don’t Expect too much on forex, don’t expect you learn forex today, tomorrow you can buy a Lamborghini to drive. Forex Need Your Time and Your Effort! Don’t ever dream to be a billionaire if your startup capital is only 100usd. Don’t you ever dream to become rich even a single day you cannot make profits. Don’t be greedy! Please be discipline! Goal What are Your Income Targets? It is important to know your financial targets and to break them down into daily/weekly bite size chunks. If let say, your target is 30% profits,then how much pips you going to obtain in a week, how much profits you going to obtain in a day. Your targets are not idle fantasies; they must be based upon your back test and forward test results.
  • 4. Trading Goals Setting goals is an essential part of your trading plan as they provide you with a Beacon to work towards, the ability to track your progress and the motivation required to get the job done. You need to have your goal. Let say for example, at the end of this year, you want to buy this and have an income with this amount. Make sure you gonna achieve this goal. How you make your dreams come true. Set your Goal!! With daily target, monthly income and consistent trading strategy will determine how you going to achieve your goals. Example: Let say you want to buy car, Price : 50,000usd In a year, we have 12months, so you need to obtain 5000usd in a month in order for you to buy a car. In a month, we have 4 weeks. So you need to achieve 1250usd in a week. In a week, we have 5 days of trading. So you need to successfully achieve 250usd in a day. That is the reality; you have to achieve your daily target of 250usd per day! Then you will have you car
  • 5. Strategy Market Instruments What pair that you going to use to trade? Know the pair movement. Focus on the pair that you like. For this case, I have my own favorite pair to trade with. My favorite PAIR is GBPUSD EURUSD AUDUSD NZDUSD You can find your own pair that you like and easy to understand. For me, I just recommend you to trade on major pair only. It is easy to understand. Time Frame Time frame that you are going to use will vary from another forex trader and depending on the trader and trading analysis. My trading strategy and analysis on using time frame chart. Top Down Analysis, from the big time frame to lower time frame. Weekly & Daily – To determine the market direction 4 hour & 1 Hour – To make technical analysis 30minutes & 15 minutes – to find sharp entry It might be differing to other trader. Maybe forex scalper they use 4hour chart to determine market direction and find their entry at 5 minutes to 15minutes time frame. Find what suites you!
  • 6. Diversify Trading Account This is important. For this strategy, you will need to diversify your trading account. Create forex account separately according to what you need to use it. For my strategy in diversify my trading account. I open 4 trading account. And I will use each of account to each of my favorable trading strategy. Account 1 : Price Action Trading Account 2 : Day Trading Strategy (Easy Profits) Account 3 : Scalping Strategy Account 4 : Kamikaze (high risk account) Kamikaze is account that I am ready to loss. Therefore when I saw a great setup I will put full margin entry. High risk, high return. If this account is at Margin Call, I will no regret and still have another account that I can continue to trade forex. Simply put your money that you can afford to lose! Good Luck!! Click Here
  • 7. Broker You can use and register how many broker if you want. If it me. I use 1 broker for 1 trading strategy. Such as my trading account price action strategy ----->> Exness, Easy Profits ----->> FBS Scalping Strategy ----->> Instaforex Kamikaze Account ----->> HotForex So in this case, you will not putting your money into 1 basket.
  • 8. Money Management Risk Determine risk that you are willing to loss. The risk suggested by professional is 1%-3% So let say, Your capital is 1000usd, so you will only risk 10usd from it. Related Article : How You Can Make Money With Only 3% Risk Stop Loss Stop loss Is very important as it can prevent your account from margin call. But using stop loss is depending on the strategy that forex trader’s use. Some of them not using the stop loss, some of the using 50pips, 30pips, 200 pips that depends on the strategy that they use. Lot Sizing The risk exposure of each position is directly related to its position size. Bigger position size leads to greater monetary loss and results in higher risk exposure. It is logical therefore that the position size you trade has to be evaluated based on the amount of trading capital at your disposal, as well as the trading losses that you are able to accommodate.
  • 9. Formula Lot Size Lot Size = risk/points Capital : 1000usd Risk : 3% Risk Per Trade :30usd Stop Loss : 50pips (500points) Lot size : 30/500 = 0.06 lot Capital For the beginner, you can just start with 100usd. Just get enough. Try to grow this small amount to 1000usd. See how you going to be successful and how consistent you are. Risk To Reward It depends on the strategy that you use, is your strategy using stop loss. Set your stop loss greater than the reward. The best risk to reward ratio is 1 loss : 2 Rewards 1 loss : 3 Rewards 50pips loss : 100 pips win 50pips loss : 150 pips win
  • 10. Full Time Trader You want to become a Full Time Forex Trader? This is how to calculate your monthly expenses roughly. What you need to take account is: House Car Utilities Insurance Loans And others, that is depend on you. What You need to cover all this things first. Let say if you want your monthly income is USD1000 Monthly trade we can estimate as 20days of working days. USD1000 / 20 days trading = USD20 So that it is, you need to achieve USD20 for each day to cover your expenses. In order for you to be fulltime forex trader, you need to consistenly make profits of USD20 per day.
  • 11. How Much Your Start Up Capital? It is depend on you. How much you set your risk per trade. If you risk your account with 1%risk. 20usd is 1% risk of USD2000 capital. So you need to start with USD2000 capital. You need to know this. How much will be you daily target profits. Is it your monthly targeted is achieved or not. Every month you need to withdraw your money. So consistently achieve your daily target. Download This FREE Money Management Calculator ExcellSheet. You can see how with your 100usd capital can grow. You can specify your risk and daily target. Profits withdraw 50% each month. Click Here To Download
  • 12. Becoming Successful Forex Trader Record your Trades Recording all your trades is a must and is something all professional traders do Routinely and Comprehensively. Details to write down include: entries, exits, stops, targets, S&R levels, open / close, high / low of day, duration of trades and key lessons learnt why you loss. Follow your trading plan After you know and understand the forex market. You need to follow your trading plan. What is the pair that you are going to use, what is the trading strategy that you going to use and how much capital you going to start. Do your backtest It is also important for you to do back test. Because you will know how your trading strategy will give you profits. How effective the strategy that you are using. So that you can determine how much stop loss, how much target profits that you want to do. Follow your money management. The money management is really important in trading as it will affect your growth of your account. Make sure you use high reward ratio like 1 loss to 2 rewards and 1 loss to 3 rewards. Sometimes it depends, how your strategy is. For scalper, they not going to use stop loss, but the target profits only 10pip-15pips. But their strategy hit target profits.