Trading plan template

Thanks for sharing this one. I started reading it and found a lot of points ot ponder.
Thanks again.
Goodluck to all of us traders!!!

I am looking to start trading this plan ,hopefully soon with a live account

basically it works with a strategy that would gives you a consistant minimum win/loss ratio of 60/40 so out of 10 trades you win 6 and 4 lossers,trading plan is based on each trade ratio of 1:1 target

For example on the winning trades we will try and profit over 1:1 or 1.5 win but on trading plan only register 100% return on winning trade the rest 50% is just left for bonus or drawdown ,in my exeperience out of say 6 wining trades I am sure I will atleast hit 2 trades with more then 1:1 profit factor

Each minimum of 3 trades taken or 60 trades per month ,Risk for each trade is 1.5% of Account
$1000 a/c = 1.5% = $15 per trade risk
work out your stoploss whatever it may be ,say 30 pips then $15/30=0.5 pip value, so you can work out your lot size accordingly and your target will will 30pips on winning trades we try and trail stop to get maxi return

please note : we only calculate 1.5% after every 60 trades have been taken so for first 60 trades we will only risk $15 per trade ,next month we start with new 1.5% of new balance of your a/c not counting the bonus money you get from winning trades only registering 1:1 ratios on your plan

hope it makes sense ,happy trading

using http://www.forexfactory.com/showthread.php?t=279970 7 pip stoploss strategy works well with this plan

all it takes is just 3 trades a day or for example on my PDF first month tarhet is only $180 target you can achive this easily with 60 trades per month or trade your way $180 target is only $9 average a day

2nd months target only $212 daily target $10.60
3rd month target only $250.5 daily target $ 12.53

not bad if you look at working towards your daily goal

Thank you so much. Been looking for help on developing a trading plan for a while. I'm sure most of you guys here are trading pro's and aren't subject to information overload, but i've only started trading (only demo-not ready to trade live yet) recently and have been drowning in the sheer amount of content pertaining to FXtrading out there. Cheers!

First post, thanks for the plan.

What I can't understand is why do you measure your objectives in pips instead of a currency? AFAIK, you can assign any value to a pip changing the volume.

I have just started trading and I see there are lots of different operations when it comes to pips size, so once I can see a nice 80 pips operation as I can see a 1000pips one. I can go for both of them earning the same amount of money, just varying the volume, hence the pips amount is completely "ignorable" (don't know if this word exists in English).

Am I wrong? I suppose. What am I not realizing?

Thanks!

PS: I wanted to post this in a separate post, but I can't do it, so I think this is the best place to post it. Hope someone sees it! :-)

Nice stuff. Thanks for sharing

Thanks for the trading plan. This looks really useful, can't wait to try it out!

Am just new here, i did view some other setups as plan in this tread but i am convinced that this PDF u name here as trading plan is NOT a plan as a trading plan should be. For example where are the entry en exit rules and where are the daily routine rules and the if/then process etc.
I know i am a lite late with reaction. But i was just looking for trading plans from others just to compile mine. So am not a advanced user. But i do know a little more than nothing about it. As i my say so from my self. I write this reaction just to warn newbies whiteout any knowledge that it is like that.

If you're looking for a good template this is a pretty good. https://www.jumpstarttrading.com/trading-plan/

It is a good plan to follow and it will equally useful for every new and experienced trader as well.

I signed up and downloaded the plan. Seems promising. Will keep you updated about how it works for me. Thanks!

Hello, there is always something to be learned from your posts.

If you want to become successful in this market, you need to make a proper plan. Without a good plan, it is quite tough to survive in this risky market.

Trading without a plan can cause a lot of losses. Plans are an important part of trading. And if one trades without this important part, it is never possible for him to survive in trading. Where to give stop loss, where to open a trade, how to manage the trade, if all these things are not planned, you will not be able to achieve satisfaction by trading.