Sample Trading Plan
My Trading Affirmations (FEEL FREE TO CUSTOMISE THESE)
● I am a professional trader.
● I approach the market as a business owner and not a gambler
● I deserve to make money and I appreciate that the only way I can do this in
the financial market is to get out of my own way, develop and refine my
skills and there is no one else to blame for me losing money than myself.
● This is a zero sum business and therefore I understand that I must
approach the markets consistently and work on my edge every single day.
● This plan dictates what a good trade is, not my opinions or emotions.
● I owe it to myself to no one other than myself to live a prosperous life.
Daily Routine & Rituals - EXAMPLES
● I wake up each morning at _____ EST, GMT each day
● I Spend the first 30 mins of my day in meditation of some kind
● I make myself a coffee at ______am
● I begin my chart analysis and daily predictions at ______am
● I take notes of potential trade setups and highlight important structure
zones on my chart ready for that days trading session
● I actively trade the markets between __:__ and __:__
TIERONETRADING
● I check active trades __ times per day
● I carry out my post-market analysis at __:__ and journal my trades
My Approach to the Market - EXAMPLES
● I am a technical trader and I used price action to identify trading
opportunities.
● I do not use fundamentals or news events in my analysis of the markets
unless_____.
● I trade Monday-Friday during the New York trading session only.
● I DO NOT trade between the hours of __:__ and __:__
● I trade on the 15 min chart, and I used the 60 min chart for my high time frame
confirmation.
● I do not place new trades 15 minutes prior, and 15 minutes following, major
news events.
● I do not hold positions over the weekend. My rules for closing open positions
are _____
● I trade a 6 market portfolio of (EURUSD, USDJPY, GBPJPY, AUDUSD,
EURJPY, GBPUSD)
● My correlation risk rules are _________
Platform and Broker - EXAMPLES
● I use the Trade Nation charting package to place my trades and conduct real-
time analysis. Trade Notion is my broker
TIERONETRADING
● My Forex trading account is serviced by (insert brokerage here) Trade Nation
● The direct phone number for the trading desk at my brokerage is 123-456-
7891
● https://tradenation.com/signup/global-welcome?cxd=733_370535
Money Management
● The starting capital for my Forex live trading account is $10,000.
● I will employ a smoothed-ratio money management strategy.
● I will begin by trading 2 lots per target, and I will not increase my position size
until my profits have exceeded 10% of my starting equity.
● My weekly acceptable drawdown is 8% of my account equity.
● My monthly acceptable drawdown is 15% of my account equity.
● If my drawdown exceeds my maximum allowable, I will stop trading and
reevaluate my system.
TIERONETRADING
Strategy Rules of Engagement – SETUPS
Daily Chore – As shown in Trading for Beginners Part 2
SELL SIGNAL
STEP 1 – Identify a bearish pin bar that just closed on a pull-back
The pin bar must have closed with the open & close in the upper 30% of the whole
candle body. The new daily candle must have opened so we are at the beginning of
the new trading day.
STEP 2 – 8 EMA must be below the 20 EMA. The 20 EMA must be below the 50
EMA
A nice fanning pattern on the EMAs indicates a strong probability of a continuation
move.
STEP 3 – The high of the pin bar must be touching or be above the 8 EMA
TIERONETRADING
Basically, the price has to have pulled back to the average. We don’t want to be
trading when the price is a long way from the average.
STEP 4 – Place a sell-stop entry order 2 pips below the low of the signal pin bar
candle
Place a buy-stop order (stop loss) 2 pips above the high of the signal pin bar candle.
Place a buy limit target order as an equal measured move between the entry and
the stop loss order. Use a calculator, the ruler tool or fib retracement tool to
measure the position.
STEP 5 – LEAVE IT ALONE
Do not move the stop loss. Do not move the target.
STEP 6 – The order is valid for one day
Either use an expiry, or each day cancel untriggered orders manually.
BUY SIGNAL
STEP 1 – Identify a bullish pin bar that just closed on a pull-back
The pin bar must have closed with the open & close in the lower 30% of the whole
candle body. The new daily candle must have opened so we are at the beginning of
the new trading day.
STEP 2 – 8 EMA must be above the 20 EMA. The 20 EMA must be above the 50
EMA
A nice fanning pattern on the EMAs indicates a strong probability of a continuation
move.
STEP 3 – The low of the pin bar must be touching or be above the 8 EMA
Basically, the price has to have pulled back to the average. We don’t want to be
trading when the price is a long way from the average.
TIERONETRADING
STEP 4 – Place a buy-stop entry order 2 pips above the high of the signal pin bar
candle
Place a sell-stop order (stop loss) 2 pips below the low of the signal pin bar candle.
Place a sell limit target order as an equal measured move between the entry and
the stop loss order. Use a calculator, the ruler tool or fib retracement tool to
measure the position.
STEP 5 – LEAVE IT ALONE
Do not move the stop loss. Do not move the target.
STEP 6 – The order is valid for one day
Either use an expiry, or each day cancel untriggered orders manually.
Daily TREND – As shown in the 30-day trader challenge
Access the challenge HERE
TIERONETRADING
Daily REVERSAL – As shown in the 30-day trader challenge
Access the challenge HERE
TIERONETRADING
Emergency Rules
● If I have a power failure, I __________
● If I lose my internet connection, I __________
● I DO NOT trade if I am emotional following an argument, family issue, road
rage etc and I gauge if I am ready to approach the charts by _________
● I will start trading again once I have ___________
● If I am hosting a party and likely to be intoxicated, I will ____________
TIERONETRADING
