AUD/CHF Long - Note and plan for followers...

2018年5月11日

This was a trade I started yesterday but, they only allow 10 published charts a day so I was not able to share it. To followers I tried to message each of you the updated plan and it kept telling me the message was to long. So, here it is as of this month. I will update it on a monthly basis so if your not following please do. Happy Trading.

Updated Trading Plan – Use at your own risk lol…. Sorry, about the added color items, this is a auto feature of trading view and not my text.
I have back tested, and this is the result. This plan would have had a 40% ROI in my account for the last few months. At the end of the plan I included how you can make this plan your own. Happy Trading.
Forex Plan – 4/29/18
Daily Procedure
1. Pray
2. Check open trades
3. Charting
4. Record information in trading notebook
5. Input Trades
6. Update FOREX spreadsheet
7. Do this both in the AM and PM during trading days
8. Repeat steps 2-7 for practice account
Charting
1. 1st of the month establish monthly channel.
2. Hourly – analyze – Trade only in direction of monthly channel.
3. All text must be placed on hourly chart.
4. Make sure all charts are saved.
Pairs to Trade
1. Only trade pairs with better than a 30 to 1 margin
2. Organize watchlist by win/loss percentage (FOREX spreadsheet) update 1st of the month.
3. Top 7 pairs on watchlist are traded in real account.
4. Bottom 7 pairs on watchlist are traded in practice account
Placing Trades
1. Place only IF THAN OCO 4.35% orders
2. Have a realistic Entry
3. Round trade to the nearest pip in the direction of the trade.
4. Set Trade for 100/20
5. Do not trade if profit does not fit into analysis
6. Size of trade based on “how much to trade” spreadsheet
Payments for Cash Flow
1. Profit for the month <200 – 0% Take
2. Profit for the month >200 – 50% Take
3. Profit for the month >1000 – 25% Tax Hold, 25% Take
4. Account over 60K at the end of week – 30% Tax Hold, 70% Take
How to make this plan yours…
Daily Procedures – You can remove Pray, I am a very spiritual person and it is what I do. Heck, you might want to keep it as it might be all you need. The trading notebook allows you to back test your results good idea to keep one.
Charting – This is totally up to you – Honestly just decide and stick with it. - With the plan the way it is more trading is better than less.
Pairs to trade – Again this is up to you. The best for me are listed below as some pairs do not work well within the plan. You also want to split your watchlist in half, best performers in real account and worst in practice account.
The Pairs I trade are – AUD/CAD, AUD/CHF, AUD/NZD, AUD/USD, CAD/CHF, EUR/CAD, EUR/CHF, EUR/USD, NZD/CAD, NZD/CHF, NZD/USD, USD/CAD, USD/CHF– You will have to make a spread sheet for yourself to keep track of your watchlist – I will not share mine as trading styles are different so, good pairs for me to trade might not be so good for you.
Placing trades – First, number 4 “Set up trade 100/20” This is an area you want to back test. You can also set this up with the normal target and stop but, I found for me this works best. So, I only must be right 1 out of 5 times to break even. Sadly, my current W/L % is 34% for the month but, with the current plan I have a 42% ROI 0.38% for the month.
How much to trade is up to you. I allow 7 micro trades at $250 – Under $250 I do not trade. At $500 I do 7 trades at (2000) and so on till $2500 at which point I do one mini. At $5000 I do (20000) and so on. At $25000 I do standard lots. Lastly at $50000 I do 2X standard lots. At the very least you want to have $30 in the account for each micro trade allowed.