Written Example Gold Plan Template

trading plan checklist - the following is a template model of a plan template example:

JUSTIFICATION

1. Trade IS A BUSINESS, SUCCESSFUL BUSINESSES ALWAYS HAVE PLANS

• Businesses that are successful always start with a plan.
• Successful business planning will lesson you to success, think of trade plan as a map: it is a constant reminder of how you will consistently pull profits from the market.
• Difference between a successful trader & a losing gold trading one is the trade plan.

2. TO HELP KEEP ME IN THE RIGHT DIRECTION when Trading XAUUSD

Consistency is important in your trading routine to measure how successful you are.

Keep you on target, read the trade plan every day and stick to its rules.

In your plan you should think of it as a map that shows you this is what you follow, it should have clear guide-lines which specify when you open or close a trade.

Your plan should cover all aspects of trading, you should read the plan every day until it is on your fingertips so that when you are transacting on the fast moving market of trading you will always know what to do in every situation.

Your plan can be as simple or as complicated as you want, but most important thing is that you have one. By having a one you have an advantage over the market, you'll have better chances of making a profit than those who do not have one.

This plan checklist tutorial topic provides with an example plan template which you can use for creating your own trade. By now you have already written down the justification part of your plan template, If not get a pen and paper & write the justification part. Next we shall look at how to write the system.

Gold plan is one of the secrets which can help you to improve your profits. A good training guide like this one should show you how to come up with one using a plan template which you can use as an example to develop your own trade plan.

One of the most common question is, Is profitable? one of the methods to make it profitable is to have a good plan.

IF YOU HAVE A GOOD Gold Trade PLAN AND YOU'RE DISCIPLINED ENOUGH TO STICK TO ITS TRADING RULES When Gold Trading, YOU WILL BE SUCCESSFUL.

GOALS OF THE TRADING SYSTEM

1. Ability to IDENTIFY A TREND AS EARLY AS POSSIBLE .
2. Ability to AVOID WHIPSAWS .

The trade system should find a compromise between the 2 Goals,

Find a way to identify a trend as early as possible but also find ways to help you distinguish fake whipsaw signals from the real ones.

FUNCTIONS OF EACH INDICATOR

Moving Average - Identify a new trend as early as possible.

MACD - Identify a trend as early as possible.

Determine momentum of a continuing trend.

RSI - Swing failure to confirm the start of a new trend.

Extra confirmation tools to help determine the strength of our trend.

Parabolic SAR - Help to ensure that we are not caught up on the wrong side of the trend.

Gold Trend Lines - Signals a reversal when the line is broken

Gold Price Action Signals - confirm weakening of a market trend.

Bollinger Band - for price action study

To learn more about each indicator & how these indicators can be used to generate signal setups you as a trader can go to Indicators Section

TRADING CHART TIMEFRAMES

• Main time-frame is the 1H.
• Signals are generated on 15 minutes time frame.

15 Minute Charts

• Gold Trend Lines (Support and Resistance)
• 5 and 7 LWMA
• RSI (14)
• Bollinger Bands (20, 2)

RULES

LONG ENTRY

Entry

15 Minute Charts

1. Both MAs are moving UP
2. MACD Above Zero Centerline (Not MACD moving UP)
3. RSI >-> 50
4. Parabolic SAR is below the price ( Support )

When signal is generated on the 1 Hour Chart, use the 15 min chart time frame to open and close positions.

LONG EXIT

1. RSI gives an opposite signal
2. Gold Price breaks Support Trend Line
3. Parabolic SAR is hit (Trailing Stop)

RULES

SHORT ENTRY

Entry

15 Minute Charts

1. Both MAs are moving DOWN
2. MACD Below Zero Centerline (Not MACD moving Down)
3. RSI <-< 50
4. Parabolic SAR is above the price ( Support )

When signal is generated on the 1 H chart, use the 15 minute chart time frame to open and close trade transactions.

SHORT EXIT

1. RSI gives an opposite signal
2. Gold Price action breaks Support Trend Line
3. Parabolic SAR is hit (Trailing Stop)

ROUTINE

1. Signals are generated using 1H chart timeframe and executed using the 15 minute chart time frame.
2. Trading signal to be executed immediately rules are met.
3. Entry alert trading signals should be executed during daytime.

TIME OF DAY TO WATCH THE MARKET - MARKET TRADING HOURS

Watch market during daytime when most companies and online brokers are open for trade transactions. Use this to create a suitable program.

Example Trading Plan Template

Tips - You can use the MetaTrader 4 Software to save this as a gold template that way you do not have to lay it afresh every time you open a new chart. If you want to learn how to save a plan template on the MT4 platform, read: MT4 Software Tutorial Guides.

Gold Money Management

• Day trading - Low risk High return method
• Trade when I have a high risk:reward ratio 3:1 or more
• Stop loss = Parabolic SAR

• Set Take-Profit target 40-60 Pips
• Never transact beyond Three % of account equity
• Never risk more than 2% on one trade transaction

Gold MINDSET/PSYCHOLOGY

• Trade without Emotions (greed, fear, impulse, bias, anticipation, over-excitement)
• I trade what I see not what I feel.
• I--willI'll be patient.

My job description is not to be the system!

It is not to decide which signal looks promising.

That is the job of my system - that has a set of rules which tells me this is what I follow. Don't get caught up in price action & make rules as you go along.

MY JOB DESCRIPTION IS

To sit patiently and wait for my strategy to show that it is time to enter or it is time to exit. And then with great focus I execute the plan as outlined.

Taking trades not indicated by the system, second guessing it and not taking trading signals given, hesitating and getting in late, anticipating and getting in trades early are all common place & boil down to a lack of faith in plan & not having a burning focus on accurate trade execution.

GOAL: To have 100% undivided focus on mastering my ability to execute my Gold rules accurately.

More you cultivate your ability to step back from price movement and watch the market calmly, waiting for a trading signal, the easier it will be to witness the fluctuations of your emotions without you getting sucked into them and allowing them to throw you off your game.

WEAKNESS

1. I am greedy.
2. I over-trade
3. Make a list of all your weaknesses that are interfering with your trading. This is the first step to help you to overcome these weaknesses. Use Gold psychology to help you to overcome them.

Note: by joting down your weaknesses you will start recognizing them as you make progress, once you do this you'll begin to avoid these mistakes and your results will improve.

GOALS

• To focus on exit just as much as I do on entry trading signals.
• Always protect my account using stop loss, money management strategies, follow with the trend direction & always following the rules of my strategy.
• Never second guess or go against my strategy. To always keep up my discipline.
• Follow all the guide-lines of my strategy and never break them.
• Transact fewer times & execute all my signals correctly. Trade what I see, what the system + charts are telling me.
• Sit patiently and wait for signals from my strategy.
• Achieve consistent gold results before signing up a real account.

FOLLOW THIS Gold SYSTEM

This is the most crucial part of creating the system.

Always follow the rules

Stick with the rules

Be disciplined and patient enough

Gold JOURNAL

Log all my trades in a journal so as to track my training progress and improve my gold execution methods.

This strategy uses momentum to determine the trend.

Even if you are new to market & you don't know how a system resembles, this system template example illustrates to you how a strategy should look like, the tutorials explained in other sections of this training website will also explain further different aspects that you need to learn.

Hence, the objective is to help you create your own complete strategy that is if you are looking for one, by showing you one that's already complete. In fact you can just use it as it is, or make a few adjustments so that it suits your style.

Aim is to help you improve your results by using a plan, and another advantage is that this trade plan will offer you a chance to improve your knowledge and it will help you improve your results and help you make pips when xauusd trading and keep them so that you do not keep giving them back to the market.

Read this plan training tutorial about developing a trade plan of your own, along with learn tutorials & trade strategies shown at the top of this learn lesson site.

The Advantageous part of using this plan example is the "Gold Trade Money Management Part" you will learn how to trade and minimize risk, which is the most important thing when it comes to trading the market.

Gold Plan Checklist - How to Develop a Plan in XAUUSD - Gold Plan Examples - Gold Plan Doc