Trade Gold Trading

How to Write a XAUUSD Business Trading Plan Example

The trading plan is the systematic approach to trading which controls all aspects of the trade.

If you trade gold, you need a trading plan template if you want to become a consistent winner and to be able to make decisions fast & accurately.

Each plan template will have its own gold rules that have been set sets describing entry and exit trading signals. The rules set for each system are converted into simple to follow & adhere to instructions or a trading check-list template which the Gold trader can easily follow.

This gold trading checklist template will direct the whole process of trading - controlling the timing of the trade entries & exits ( gold trading system), the value of the opened trade positions in relation to the trading account equity balance ( gold money management system) and the emotional state of the trader (emotion management system). The resultant trade details & particulars should be recorded in the trading journal gold log and later studied for the ideas on how to improve each of the trade systems.

is commonly compared and analyzed to a business. If gold trading is business then the trading plan is your business plan which should be prepared before you start & begin trading with the real money. Better you prepare this gold plan - gold checklist template, the more success you as a trader can expect to achieve in real xauusd trading.

XAUUSD Plan Template

To write a good gold plan, you'll need a good gold plan template that you as a trader can use to create your own gold plan. But before you download the trading plan, here is an description of the various gold plan gold checklist sections that your trade plan requires to have.

JUSTIFICATION

This part of your trade plan will writedown why you require a trading plan, one of the reason is that gold trading is a business.

Gold TRADING SYSTEM

This is the plan part where you include your strategy. In this section you will write the technical indicators to trade with, then you'll write the trade system rules that you will generate the trading signals with.

For more tutorials about trading systems

Trading Systems

How to design Trading Strategies

How to Write System Rules

Generating Trade Signals

Tips for Strategies

Trade Journals.

TIMEFRAME

This is where you specify which is the main chart timeframe that you will be trading with.

TRADE ROUTINE

This is the part as a trader that you have to specify the time when you'll be trading the market & when you generate signals and how these trading signals should be generated. For examples:

  1. Signals are generated using 1 Hour chart timeframe.
  2. Trading Signals to be executed immediately the rules are met and matched.
  3. Entry signals should be executed during the day-time.

TIMELINE OF DAY TO TRADE THE MARKET

Watch market during daytime & trade only during the best hours

MONEY MANAGEMENT

This is the part where as a trader you'll specify the money management principles which you will follow, for examples:

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

  • Set TP target 100 Gold Pips
  • Never trade beyond 3 % of trading account balance
  • Never risk more than 2% on a single trade

To learn more about gold money management

MINDSET & PSYCHOLOGY

This is the part you specify about your mindset psychology rules

  • Trade without Emotions (greed, fear, anticipation, impulse, bias, overexcitement)
  • I trade what I see on the trading charts not what My feelings are telling me.
  • I will be patient.

My job isn't to be the trading system!

It is not to make a decision which trade transactions looks promising and which does not.

Gold Psychology Rules and Tutorials and Lessons:

WEAKNESS

By writing down your weaknesses you will start & begin recognizing them as you trade, once you do this you'll begin to avoid this mistakes & your will improve.

For Example

  1. I am greedy.
  2. I over-trade
  3. Make a listing of all your weak-nesses which are interfering with your trading. This is the first step to help you as a trader to overcome these weak-nesses. Use psychology to help you overcome them.

GOALS

Write the goals you as the trader want to achieve with your trading plan

·To focus on the exit signal just as much as I do on the entry.

·Always protect my trading account using stop loss order, gold money management techniques, trading with the market trend & always following the trading rules of mytrade system & plan.

·Never second guess or go against my xauusd system strategy.

FOLLOW THIS TRADING SYSTEM

This is the most crucial part of making the trade system.

·Always follow the trading rules

·Stick with the trading rules

·Be disciplined and patient enough

JOURNAL

Log all my trades in a journal so as to track my progress.Write your trades on a trading journal to track the progress of your trading.

How to Write a Journal

More Tutorials and Courses:

Forex Traders Seminar Gala

Forex Traders Seminar

Gold Broker