My Complete Trading plan in 5 Minutes
Hello Traders, here is my complete trading plan, including signals & analysis…
Tag: trading plan
My complete trading plan for the GBPCAD
Hey traders, hope you had a good start this week…
I’ve been getting a few emails from traders wanting me to update my trading plan for the GBPCAD…
I’m glad plenty of trader were able to take advantage of the GBPCAD…
This is exactly what we got to do every day, look for the best instruments to trade, and focus on them…
Right now we have more possibilities on the GBPCAD, let me show you…
The easiest currency pairs to trade right now
How is it going trader?
In what currency pairs have you been focusing lately?
Please don’t tell me that majors…
From the way I see it, most of the majors are trading not in a clear market condition… Specially the EURUSD. So please, stop trading them!
Expand your horizon, yeah, you’ll have to pay more spread, but the odds will be on your favor, and that’s what we are all after, aren’t we?
I would rather trade an instrument with a larger spread, but with a clearer market condition, than a currency pairs with a tighter spread and have absolutely no idea of what the market is doing…
Please tell me this makes sense…
Here we go…
My Complete Trading Plan
Hey traders, hope everything is going well…
What do you think about the market in the last few week?
Sometimes it’s difficult to trade, but in the last few weeks that certainly hasn’t been the case.
A few currency pairs have very clear market condition, and at the end, those are the ones we need to focus on.
What do I mean by clear market condition?
- Clear S&R levels
- Clear Swings
When you’ve got both of them, you know what the market is likely to do in the following hours/days, and that of course helps us take better decisions.
So here is my trading plan for a few of the currency pairs I’m actually monitoring.
EURUSD Breakout signal and complete forex trading plan
Look, I’m going to be straight to you, there is no other way to get consistent results but having a trading plan.
Seriously…
You can get a thousand pip killer trade, but if you have no way to replicate the same results in the future, it wont help much in the long run.
Having a trading plan makes your life easier, helps you trade with less stress, which is what we all are looking for, aren’t we?
Having a trading forex trading plan is probably the most important factor to get consistent results.
It’s like having complete roadmap: where you need to go, what you need to do, where you need to stop, everything you need. This way, everything becomes much easier.
See it for yourself,
This is how I analyze the market (and AUDUSD trading plan)
If you’ve been reading my blog for a while you know how much I like to have trading plans…
And by trading plans I mean a clear picture of what the market needs to do, to make me open my trades.
You have no idea of simple it is to trade, once you have a clear trading plan…
Anyway… here is my plan for the AUDUSD
Let me show you first my long term chart:
The best thing about having a clear trading plan
When you have a trading plan, trading becomes much easier. You don’t have to guess where the market is going, you just follow your plan.
If you asked me what the most important thing about trading is, the one thing that could be the difference between a successful trading and a trader who is still struggling to get consistent results, without a doubt, it’s having a trading plan.
Let me show you this chart:
The beauty of having a trading plan – EURUSD looking for shorts
Last week I showed you my trading plan in the EURUSD, back then it was trading in a short term range, so I was looking for short opportunities around the top of the range and long opportunities around the bottom of the range.
But I also mentioned that in the case of a breakout, I’ll adjust my strategy and look for trade opportunities in the direction of the break out.
Well, that time has come. Here is the chart:
Here is a simple plan to trade the AUDUSD
Sometimes we like to overcomplicate things, we pull up our charts, use 10 indicators (just to determine which way to trade) then we use 10 more to determine our entry…
But I believe trading should be simpler than that, and in order to get there, a clear and simple trading plan makes all the difference.
Look at this chart, and try to come up with a plan, then compare it with mine (below):
Do you know what our job is as traders?
Have you thought about this question? What is what we traders have to do, what is what best describes our job? Understanding the answer to this question will help you achieve your trading goals a Forex trader.
So before you continue reading this article, I want you to think for a few minutes about this, what is what you think is our job as traders? Or better yet, what do you think is our main goal as traders?
Told you a few minutes… not a few seconds :)
Might seem simple at first sight right? But it isn’t… it wasn’t for me anyway, I spent years trying to figure this out, trying to think what is what best describes our job as traders. Here are a few of “objectives” I thought on my early days as a trader: