How to make a trading plan?

anyone to give me any idea ,to share with me meterials are always welcome.

You don't need one.
It's one of the many forex trading lies that is given to the public ...

If you want to make a trading plan, you need to develop a risk profile. That's a fancy way of saying, how much are you willing to lose before you start liquidating your trades.

1. Leverage is bad.
2. Leverage is bad.
3. Leverage is bad.

Now that we have that out of the way, if you just have to use stops, then risk no more than the amount of money, not pips, you are willing to lose when your stop gets hit.

If you decide to let stops ride, you must trade small, so that you will have time to react to a negative trade. This is not to say no stops ever, but keeping stops out of the market does have some advantages.

If you do not use stops, you need to be able to watch your percentage loss on your total position. I look at mine every four hours. If that amount dips below a certain level, you need to adjust your positions so that your risk profile is in line.

Do not think about profits. Think only about risk. The profits will take care of themselves.

Take a pen and a piece of paper and start writing

Hey emacsen,

Trade plans area great, they'll give you rules by which to trade by, and will ideally build your discipline and knowledge of the markets. The key is to follow it 100%, no matter how unprofitable (or profitable). Also, if you're ever in doubt as to what you should be doing because you don't have a rule, create a rule and then follow that. Test your plan for a number of weeks, then review and adjust based on what you've found.

Anyway, a few things you want to consider for your plan (and therefore rules):

- How much of your account are you going to be willing to risk per trade? 1% is probably a safe starting point (or less).
- What market conditions will you be looking for to enter a trade? What market conditions will you avoid?
- What exactly are your rules for your setups? Do you want to use any trade triggers?
- Where are you going to place your initial stop loss and why?
- How are you going to take profits, are you going to have a fixed target or trail your stop? Will you change your profit taking rules based on the market conditions?
- How are you going to respond to a string of losers?
- How are you going to journal your trades in order to find patterns, strengths and weaknesses in your trading?

And so on. Remember that trading, like anything, is a game of skill development. The best way you can develop your skills is to have a rock solid plan and a GREAT trading journal in order to record your trades. You want to be focused on learning and constant improvement.

I wrote a series or articles that may help here. It discusses many of the things you should be considering in your trade plan.

All the best mate.

SL 1
TP 2
RISK 1% Per entry

I have never done this before but I will do it once and only once.
In order to have a robust and tradeable plan,it must have the followings:-

1. You must have an indicator which can tell you whether prices have top or bottom. Note that different indicator works differently for different currency pairs. Some may be totally unworkable especially on the majors and their crosses
2. Never use any in-house chart, indicators or price feeds. ALWAYS use a 3rd party and independent one.
3. Do not ever believe in probability mumbo jumbo theory. Your Plan MUST be 100% right or you are wrong. Any else will not be able to survive or sustain in this business.
4. Try to start and master one pairs first before trying others. Preferably E/U becos it contains all the elements that you need to know in this trade.
5. Do not use daily or weekly chart to trade as these time frames are only for general directional bias. Use 15mins to 240mins chart for intraday price movements and they all MUST have the same readings. Which have to be able to tell you the intraday/midterm/longterm trends, topping and bottoming, pullback levels, retracement levels and trend reversal.

This is the minimum requirements for a truly robust trading plan.
Good luck and happy trading.

GS