Trading plan

Most people when they first started trading, they don’t have a trading plan. All they think when they go long or short on a stock is PROFITs.

What would most people do when the stock go against them? –>Leave it and hope that that stock will come back “This is what we call them a Bagholder ”

My trading plan:

1. Risk and Reward ( >3 Rewards to 1 time Risk)

2. Support/ Resistance, (Breakout vs break down)

3. Timeframe (Premarket 8am – 9.30am), Market open (9.30am to 9.45am), After Market Open (9.45 to 10.30), Normal Trading (10.30 to 1pm), End of day (1pm to 4pm)

4. Exit Strategy (Cut loss) (1% – 2%)

5. Lock in profit (7%-15%)

The above are my trading plan based on my experience on the market so far. (The trading plan will evolve as my experience grows)

Actual execution plan:

  • Only buy on reversal after dip at the opening (U shape) or else DON’T Buy
  • Only short on the top (or 2nd top) or else DON’T Short
  • For MOMO, only buy on first/ second up candle or the profit taking next leg up

Be DISCIPLINE or else don’t trade!!!!!


Timothy Sykes also done a good video explaining about his 7 Step Trading Plan as shown on the video below:

A 7-Step Program For Traders by Timothy Sykes

Timothy Sykes profit.ly profits

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2 thoughts on “Trading plan”

  1. Quite nice of you to include your own trading plan! I appreciate this because it gives me an insight on what kind of trader you are and it looks like you might be on a similar brainwave to mine :). Nice to meet you, bro and you have a great set-up here!

    Liked by 1 person

    1. Thanks for your comment Chris. Hope this helps you in your trading. I heard that many people don’t have a trading plan. Good luck with your trading. Feel free to ask any question or suggest any new content in my blog.

      Like

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