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1. Why would you like to be a trader ? |
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2. Which are your top 10 trading rules ? |
2. Risk 2% of my account balance per trade, no more - no less.
3. Only place the trade if the risk-reward ratio is at least 2-1 - or even better 3/1 in my favour.
4. Don't allow my emotions influence my thinking.
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3. Which are your trading goals and why ? |
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4. What kind of trader are you ? (position-, swing-, intraday-trader, etc.) |
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5. Which currency pairs do you want to trade ? |
USD/JPY
GBP/USD
USD/CHF
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6. Which timeframes will you use ? |
5 minute charts for entries
15 minute charts for finding general support/resistence and trend behaviours
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7. How do you prepare before each trading session (pre-session routine) ? |
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8. How do you finish each trading session (post-session routine)? |
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9. Which are your risk- and money-management strategies ? |
Risk 2% of my account balance per trade, no more - no less.
Only place the trade if the risk-reward ratio is 3-1 in my favour.
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10. Which are your actual trading-strategies: Chart-setups, entries, exits |
2 x top's, head and shoulders, triangles, flags, pennants, channels/wedges etc etc....
They must contain 4 bars, the last 20 minutes of price action.
Volume is 2 x to 3 x higher than usual.
If going long a bullish candle set up is present, if going short a bearish candle set up is present.
RE-ENTRIES
EXITS
Automatically.
1. Stop loss was hit ***
2. Take profit was hit
Manually.
1. If on the 5 minute chart, the price drops below the 20 period moving average
2. If you see a bearish/bullish candle formation forming, a trend reversal for example
*** adjust stop loss to break even, once profit has been reached and price has continued to build in your direction
My first trading journal ..
