Written Example Gold Plan Template

Trading plan checklist - the following is a template model of a plan template illustration:

JUSTIFICATION

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

Businesses that are successful always begin with a plan.
Successful business planning will tutorial you to success, think of trade plan as a map - it is a constant reminder of how you'll 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 trade plan sample you should think of it as a map guide that indicates to you this is what you follow, it should have clear guide-lines which specify when you open or close a trade.

Your plan should adequately cover all the 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'll always know what to do in every situation.

Your plan can be as simple or as complicated as you want, but most crucial thing is that you have one. By having one you've got an edge over the market, you will have better chances of earning a profit than those who do not have one.

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

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

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

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

GOALS OF THE TRADING SYSTEM

Ability to IDENTIFY A TREND AS EARLIEST AS POSSIBLE .
Ability to AVOID WHIPSAWS .

The trading system should find a reasonable compromise/middle ground between the two 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 OOF--THEE INDICATOR

Moving Average - Spot a new market trend as early as possible.

MACD - Identify a trend as early as possible.

Determine force of a continuing trend.

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

Extra confirmation trading tools to help determine the power of the trend.

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

Gold Trendlines - Signals a reversal when the line is broken

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

Bollinger Bands - for the price action study

To learn more about each indicator and how these technical indicators can be used and combined together to generate trading signal set-ups you as a gold trader can go to Indicators Section

TRADING CHART TIMEFRAMES

Main chart timeframe is the 1H.
Signals are generated/derived on 15 minutes time frame.

15 Min Charts

Gold Trendlines (Support and Resistance)
5 and 7 LWMA
RSI (14)
Bollinger Band (20, 2)

RULES

LONG ENTRY

Entry

15 Minute Charts

Both Moving Averages are moving UP
MACD Above Zero Centerline (Not MACD moving UP)
RSI >-> 50
Parabolic SAR technical indicator is below the price ( Support )

When signal is derived & generated on the 1 Hour Chart, use the 15 min chart timeframe to open and close trades.

LONG EXIT

RSI gives an in the in the opposite trend market trend market trend market trend market trend market trend market trend signal
Gold Price breaks Support Trend Line
Parabolic SAR is hit (Trailing Stop)

RULES

SHORT ENTRY

Entry

15 Min Charts

Both MAs are heading DOWN
MACD Below Zero Centerline (Not MACD moving Down)
RSI <-< 50
Parabolic SAR technical indicator is above the price ( Support )

When signal is derived & generated on the 1 Hour chart, use the 15 minute chart timeframe to open and close trade positions.

SHORT EXIT

RSI gives an in the in the opposite trend market trend market trend market trend market trend market trend market trend signal
Gold Price action breaks Support Trend Line
Parabolic SAR is hit (Trailing Stop)

ROUTINE

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

TIME OF THE DAY TO WATCH THE MARKET - MARKET HOURS

Watch market during the day-time when most companies and online brokers are open for trades. Use this to create a suitable program.

Example Trade Plan Template

Gold Plan Template - Gold Plan Checklist

Tips - You can use the MetaTrader 4 Platform Software to save this as a gold template that way you do not have to lay it afresh each time you open a new trading chart. If you want to learn how to save a plan template on the MetaTrader 4 software, 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
Stoploss = Parabolic SAR

Set TakeProfit Order target 40-60 Pips
Never transact beyond 3 % of trading equity
Never risk more than 2% on one trade position

Gold MINDSET/PSYCHOLOGY

Trade without Emotions (greed, fear, impulse, bias, anticipation, over-excitement)
I trade what I see on the trading charts not what I--feelI--am--feelingMy--feelings--are--telling--me.
I will be patient.

My job explanation is not to be the trade system!

It isn't to decide which trade signal looks promising & which does not.

That's the job of my trading system - that has got a set of trade rules which inform me this is what I follow. Don't get caught up in price action and 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 extreme focus I execute my trading plan as outlined.

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

GOAL: To have 100% undivided desire on mastering the 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 plan.

WEAKNESS

I am greedy.
I over-trade
Make a listing of all your weak-nesses that are interfering with your trading. This is the first step to help you as a trader to overcome these weak-nesses. 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 the exit signals just as much as I do on the entry signals.
Always protect my trading account using stop loss order, money management strategies, follow with the trend direction & always following the trading rules of my strategy.
Never second guess or go against my trading strategy. To always keep up my discipline.
Follow all the guide-lines of my strategy and never break them.
Transact fewer times and execute all my signals correctly. Trade what I see, what the trade 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 trade system.

Always follow the trading rules

Stick with the trading rules

Be disciplined & 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 trading strategy uses momentum to identify the trend.

Even if you are new to market and you do not know how a trade system resembles, this trading strategy template example illustration illustrates to you how a trading 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 as a trader can just use it as it is, or make a couple of adjustments so that it suits your style.

The goal is to help you improve your results by using a trading 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 gold trading and keep them so that you do not keep giving them back to the market.

Read this trading 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 illustration is the "Gold Trade Money Management Part" you will learn how to trade and minimize risk, which is the most crucial thing when it comes to trading the market.

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

Learn More Tutorials and Tutorials:

Trade Gold Trading