A trader who wins is a disciplined trader. Any rules or discipline following a plan. Below is an example trading plan. Never do anything against your own plan.
1 . Choose a Currency Pair
2 . Trader Multiple Lots 2
3 . Trader only 60 minutes , 4 hours and 1 day graphics
4 . Find a trend using moving averages (MA / Moving Average ) and fundamentals.
5. Confirm a trend using the RSI , slow stochastics and MACD .
6 . Check the Fibo line are in phase with the media and Resistors .
7 . Check the economic calendar prepares ads in my direction or against .
8 . ALWAYS set a Stop Loss . The maximun to + or - 20 pips UP / DOWN from the previous day .
9 . Take profits on half the lots involved in the first resistance encountered .
10 . Take the rest of its profits to the next resistance . Move the Stop Loss on initial entry point ( if loss then it will be 0 pips).
11 . Using sound indicators for a change in trend . ( it helps ... )
12 . Immediately terminate its previous trades if this change in trend is confirmed .
13. Trader only session London / Frankfurt.
14. No trades on Fridays and during the holidays.
15 . Set a maximum number of trades per day to run (eg 3 trades max. )
16. Avoid possible to trade in the big news such as the NFP ( Non Farm Payroll ) . If your trades are open , reduce the maximum Stop Loss on existing positions.
1 . Choose a Currency Pair
2 . Trader Multiple Lots 2
3 . Trader only 60 minutes , 4 hours and 1 day graphics
4 . Find a trend using moving averages (MA / Moving Average ) and fundamentals.
5. Confirm a trend using the RSI , slow stochastics and MACD .
6 . Check the Fibo line are in phase with the media and Resistors .
7 . Check the economic calendar prepares ads in my direction or against .
8 . ALWAYS set a Stop Loss . The maximun to + or - 20 pips UP / DOWN from the previous day .
9 . Take profits on half the lots involved in the first resistance encountered .
10 . Take the rest of its profits to the next resistance . Move the Stop Loss on initial entry point ( if loss then it will be 0 pips).
11 . Using sound indicators for a change in trend . ( it helps ... )
12 . Immediately terminate its previous trades if this change in trend is confirmed .
13. Trader only session London / Frankfurt.
14. No trades on Fridays and during the holidays.
15 . Set a maximum number of trades per day to run (eg 3 trades max. )
16. Avoid possible to trade in the big news such as the NFP ( Non Farm Payroll ) . If your trades are open , reduce the maximum Stop Loss on existing positions.
