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Profitable trading system (Need EA to be written) 17 replies

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do you have a written trading plan?

  • Poll

  • Do you have a written trading plan?
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  • #1
  • Quote
  • First Post: Edited May 12, 2005 4:48pm Apr 9, 2005 6:28pm | Edited May 12, 2005 4:48pm
Be honest!
Relax and be happy.
  • #2
  • Quote
  • Apr 15, 2005 6:46pm Apr 15, 2005 6:46pm
What are the elements of a plan, or a sample plan?
  • #3
  • Quote
  • Apr 19, 2005 2:53pm Apr 19, 2005 2:53pm
You should know exactly what lot sizes you will trade, and which currency
pairs.

You should have exact entry and exit criteria.
Bob/autofx
  • #4
  • Quote
  • Apr 26, 2005 6:57am Apr 26, 2005 6:57am
Your in trouble if you said "no".
  • #5
  • Quote
  • Apr 26, 2005 8:05am Apr 26, 2005 8:05am
I think we all need some type of Flow-Chart system. How do you know were your going if you dont have a map? Unless your using GPS?
  • #6
  • Quote
  • Apr 28, 2005 4:14pm Apr 28, 2005 4:14pm
Quoting phillyforex
I think we all need some type of Flow-Chart system. How do you know were your going if you dont have a map? Unless your using GPS?
the flow chart idea is very good will be using it. Thanks for the idea
  • #7
  • Quote
  • May 21, 2005 2:16am May 21, 2005 2:16am
Quoting Drshon
What are the elements of a plan, or a sample plan?
I've posted this link on one of the other threads but a trading plan is so important I'll do it here as well http://www.trade2win.com/knowledge/a...-plan-template . This part was the most difficult thing to do for me as a newbie, and I believe that is why so few people actually do it, I was not sure what was suppose to be in it. Hope it helps.

Johan
  • #8
  • Quote
  • May 21, 2005 6:59am May 21, 2005 6:59am
Quoting marejp
I've posted this link on one of the other threads but a trading plan is so important I'll do it here as well http://www.trade2win.com/knowledge/a...-plan-template . This part was the most difficult thing to do for me as a newbie, and I believe that is why so few people actually do it, I was not sure what was suppose to be in it. Hope it helps.

Johan
Thank you Johan, this is realy good information.
  • #9
  • Quote
  • Jun 7, 2005 8:12pm Jun 7, 2005 8:12pm
Newbie here. Still learning. Don't have one nor know how to start one.

iamfrog2
  • #10
  • Quote
  • Jun 8, 2005 4:24am Jun 8, 2005 4:24am
I haven't got a trading plan. It sounds to me like a very funny idea. LoL
  • #11
  • Quote
  • Jun 12, 2005 10:20am Jun 12, 2005 10:20am
Quoting merlin
Be honest!
Not just a plan, but rules of trading.

So when I break a rule, I can say to myself, "dummy, you broke your rule and that is why you lost."

Patrick
  • #12
  • Quote
  • Feb 8, 2008 9:06am Feb 8, 2008 9:06am
Quoting marejp
I've posted this link on one of the other threads but a trading plan is so important I'll do it here as well http://www.trade2win.com/knowledge/a...-plan-template . This part was the most difficult thing to do for me as a newbie, and I believe that is why so few people actually do it, I was not sure what was suppose to be in it. Hope it helps.

Johan

A must read.
Just Trade It
  • #13
  • Quote
  • Edited 9:14am Feb 8, 2008 9:11am | Edited 9:14am
Didn't have one written but will start putting it down on paper (had it all in my head) this weekend!
Humble Lifetime Member
  • #14
  • Quote
  • Feb 8, 2008 9:16am Feb 8, 2008 9:16am
A big thank you goes out to the person that bumped this thread to get it on my radar. I have been looking for something exactly like this.

THE HUN.
  • #15
  • Quote
  • Feb 8, 2008 9:19am Feb 8, 2008 9:19am
Quoting thehun69
A big thank you goes out to the person that bumped this thread to get it on my radar. I have been looking for something exactly like this.

THE HUN.
Humble Lifetime Member
  • #16
  • Quote
  • Feb 8, 2008 9:20am Feb 8, 2008 9:20am
Quoting thehun69
A big thank you goes out to the person that bumped this thread to get it on my radar. I have been looking for something exactly like this.

THE HUN.
This thread died officially in June 2005, I brought it back to life today out of boredom

None the less it's still a good thread as most traders don't really have a plan.

Fail to plan, plan to fail
Just Trade It
  • #17
  • Quote
  • Feb 8, 2008 9:29am Feb 8, 2008 9:29am
Yes!

My written plan is word document that spans 3 pages.

They include rules on:

1. trend determination
2. entry trigger
3. stop loss
4. position size
5. trade management (i.e following the trade)
6. exit
7. pyramid rule
8. position trading (similar to jacko's a-h strategy)
Working towards CME membership
  • #18
  • Quote
  • Feb 8, 2008 9:30am Feb 8, 2008 9:30am
Yes, I have one, but I know it by memory now and stick to it rigitidly.
  • #19
  • Quote
  • Feb 8, 2008 9:33am Feb 8, 2008 9:33am
Yup, I have a plan too, in Microsoft Excel.
Trainee at UBS Investment Banking
  • #20
  • Quote
  • Feb 8, 2008 9:39am Feb 8, 2008 9:39am
Here's the simple formula I use to limit risk on each trade, and an example.

Account balance: b ($)
% risk: r (%)
Pip Rate: p ($)
stop loss: n (pips)
max lots open: ((b*r)/n)/p

ex:

Account balance: $10,000
% risk: 2%
Pip Rate: $9.32
stop loss: 10 pips
max lots open: ((10,000 * .02) / 10) / 9.32) = 2.14 or 2.1 lots

Of course I have separate rules concerning entry and tp, but this is the core of my strategy. Imo, ANY strategy can be profitable with proper money management.
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