How to Write a Good Energies Trading Plan
trading plan checklist - the following is a template example of a energies plan template example:
JUSTIFICATION
1. Energies Trading IS A BUSINESS, SUCCESSFUL BUSINESSES ALWAYS HAVE PLANS
- Businesses that are successful always start with a plan.
- Successful business planning will guide you to success, think of energies trade plan as a map; it is a constant reminder of how you will consistently pull profits from the energies market.
- Difference between a successful trader & a losing energies one is the energies trade plan.
2. TO KEEP ME IN THE RIGHT DIRECTION when Trading Energy
Consistency is important in your routine to measure how successful you're.
Keep you on target, read the energies trade plan every day and stick to its trading rules.
When it comes to your plan you should think of it as a map which shows you this is what you follow, it should have clear rules which specify when you open or close trade.
Your energies plan should cover all aspects of energies, you should read the energies plan every day until it is on your fingertips so that when you are transacting on the fast moving market of energies you will always know what to do in every situation.
Your energies plan can be as simple or as complicated as you like, but the most important thing is that you have one. By having a one you have an advantage over the energies market, you will have better odds of making a profit than those who do not have one.
This energies plan checklist tutorial topic provides with an example energies plan template that you can use for creating your own energies trade. By now you have already written down the justification part of your energies plan template, If not get a pen and paper and write the justification part. Next we shall look at how to write the system.
Energies Trading plan is one of the secrets which can help you to improve your trading profits. A good energies training guide like this one should show you how to come up with one using a energies plan template which you can use as an example to develop your own energies trade plan.
One of the most commonly asked question is, Is Energies Trading profitable? one of the methods to make it profitable is to have a good plan.
IF YOU HAVE A GOOD Energies Trading PLAN AND ARE DISCIPLINED ENOUGH TO STICK TO ITS Rules When Energies Trading, YOU WILL BE SUCCESSFUL.
GOALS OF THE TRADING SYSTEM
- Ability to IDENTIFY TREND AS EARLY AS POSSIBLE .
- Ability to AVOID WHIPSAWS .
The energies trade system should find a compromise between the two Goals,
Find a way to identify a energies trend as early as possible but also find ways to help you distinguish the fake trading signals from the real ones.
FUNCTIONS OF EACH INDICATOR
MA - Identify a new energies trend as early as possible.
MACD - Identify a energies trend as early as possible.
Determine strength of a continuing trend.
RSI - Swing failure to confirm the begin of a new energies trend.
Extra confirmation tools to help determine the strength of our energies trend.
Parabolic SAR - Help to ensure that we are not caught up on wrong side of the trend.
Energies Trend Lines - Signals a reversal when the line is broken
Energies Trading Price Action Signals - confirm the weakening of a trend.
Bollinger Bands - for energies price action study
To learn more about each indicator & how these indicators can be used to generate trading signal setups you can go to Technical Energies Technical Indicators Section
CHART TIME FRAMES
- Main time frame is the 1H.
- Signals are generated on the 15 minute time frame.
15 Minutes Charts
- Energies Trend Lines (Support & Resistance)
- 5 & 7 LWMA
- RSI (14)
- Bollinger Bands (20, 2)
RULES
LONG ENTRY
Entry
15 Minutes Charts
- Both MAs are moving UP
- MACD moving UP
- RSI > 50
- Parabolic SAR is below the energies price (Support)
When signal is generated on the 1 Hour Energies Trading Chart, use the 15 minute chart timeframe to open and close positions.
LONG EXIT
- RSI gives opposite signal
- Energies Price breaks Support Energies Trend Line
- Parabolic SAR is hit (Trailing Stop)
RULES
SHORT ENTRY
Entry
15 Minutes Charts
- Both MAs are moving DOWN
- MACD moving DOWN
- RSI < 50
- Parabolic SAR is above the energies price (Support)
When signal is generated on the 1 Hour Chart, use the 15 minute chart timeframe to open and close trade positions.
SHORT EXIT
- RSI gives opposite signal
- Energies Price action breaks Support Energies Trend Line
- Parabolic SAR is hit (Trailing Stop)
ROUTINE
- Signals are generated using 1H energies chart timeframe and executed using the 15 minute chart time frame.
- Trading trading signal to be executed immediately trading rules are met.
- Entry alert signals should be executed during daytime.
TIME OF DAY TO WATCH MARKET - MARKET HOURS
Watch market during daytime when most companies and online energies brokers are open for trade transactions. Use this to create a suitable program.
Example Trading Plan Template
Tips - You can use the MT4 Energies Trading Software to save this as a energies template that way you do not have to lay it afresh every time you open a new energies chart. If you want to learn how to save a energies plan template on the MT4 platform, read: MT4 Energies Platform Tutorials.
Energy Trading Money Management
- Day trading - Low risk High return method
- Trade when I have a high risk to reward ratio 3:1 or more
- Stop loss = Parabolic SAR
- Set TP target 40-60 Energies Trading Pips
- Never transact beyond Three % of account equity
- Never risk more than 2 % on a single energies trade transaction
Energies Trading MINDSET/PSYCHOLOGY
- Trade without Emotions (greed, fear, impulse, bias, anticipation, overexcitement)
- I trade what my eyes see not what I feel.
- I will be patient.
My job is not to be the energies system!
It is not to decide which signal looks promising.
That is the job of my energies system - which has a set of energies rules which tells me this is what I follow. Do not get caught up in energies price action making rules as you go along.
MY JOB DESCRIPTION IS
To sit patiently and wait for my energies strategy to indicate that it is time to enter or it is time to exit. And then with great focus I execute energies plan as outlined.
Taking trades not indicated by the energies system, second guessing it and not taking signals given, hesitating and getting in late, anticipating & getting in early are all common place & boil down to lack of faith in plan & not having a burning focus on accurate execution.
GOAL: To have 100% undivided focus on mastering my ability to execute my Energies Trading rules accurately.
The more you develop the ability to step back from energies price movement and watch the energies market dispassionately, waiting for a energies signal, the easier it will be to witness the fluctuations of your emotions without getting sucked into them allowing them to throw you off your game.
WEAKNESS
- I am greedy.
- I over-trade
- Make a list of all your weaknesses that are interfering with your trading. This is the first step to help you overcome these weaknesses. Use Energies Trading psychology to help you overcome them.
NB: by writing down your weaknesses you will start recognizing them as you make progress, once you do this you will start to avoid this mistakes and your results will improve.
GOALS
- To focus on exit just as much as I do on entry signals.
- Always protect my account using stop loss, energies money management methods, follow with the energies trend direction and always following the trading rules of my energies strategy.
- Never second guess or go against my trading strategy. To always keep up my discipline.
- Follow all the rules of my energies strategy and never break them.
- Transact fewer times and execute all my signals correctly. Trade what I see, what the system + energies charts are telling me.
- Sit patiently and wait for signals from my strategy.
- Achieve consistent energies results before opening a live energies account.
FOLLOW THIS Energies Trading SYSTEM
This is the most important part of creating the energies system.
Always follow the trading rules
Stick with the trading rules
Be disciplined and patient enough
Energies JOURNAL
Log all my trades in a energies journal so as to track my training progress and improve my energies execution trading methods.
This energies strategy uses momentum to determine the energies trend of any energies.
Even if you are new to energies trading market and you do not know how a energies system looks like, this energies system template example illustrates to you how a energies trading strategy should look like, the Energies Trading tutorials explained in other sections of this training website will also explain further different aspects which you need to learn.
Hence, the aim is to help you come up with your own complete energies strategy that is if you are looking for one, by showing you one that is already complete. In fact you can just use it as it is, or make a few adjustments so that it suits your energies style.
The objective is to help you improve your energies results by using a energies plan, and another advantage is that this energies trade plan will offer you a chance to improve your knowledge and it will help you improve your energies results and help you make pips when energies and keep them so that you do not keep giving them back to the energies market.
Read this energies plan training tutorial about developing a energies trade plan of your own, along with learn energies courses and energies trading strategies listed at the top of this learn energies tutorial website.
The Most Beneficial part of using this energies plan template is the "Energies Trading Money Management Part" you will learn how to trade energies trading and minimize risk, which is the most important thing when it comes to trading the energies market.
Energies Trading Plan Checklist - How to Develop a Trading Plan in Energies Trading - Energies Trading Plan Examples - Energies Trading Plan Doc