Scribd Logo
Upload

Welcome to Scribd!

  • 29 views

    Ivy Trading Plan

    Uploaded by

    Vincentius Krige

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Ivy Trading Plan

    Uploaded by

    Vincentius Krige
    29 views4 pages

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    29 views4 pages

    Ivy Trading Plan

    Uploaded by

    Vincentius Krige

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 4

    Trading plan -2024

    1.What type of trader are you?


    I am a scalper and an intraday trader.
    - I trade trending markets trader.
    - Breakouts and pullbacks.
    - Support and resistance.
    - 1,2,3 reversal trading
    I do not trend ranging markets.

    2. Why do you want to trade the forex market?


    I trade the market because I am tired of just making ends meet.
    I trade the market because I see it as an opportunity to make
    money/financial freedom.
    I trade the market because I don’t see myself working a 7am-4pm job
    for the rest of my life.
    I trade the forex market to make money and one day retire my family
    from their jobs.
    I trade because I see it as a great tool to utilize.

    3.What currency pairs are you going to trade and what time are you
    going to trade them?
    EUR/USD-3PM-10 PM
    GBPJPY-11 AM-4PM

    TIMEFRAME ANALYSIS:
    1. 4Hr /daily: check if the market is in an uptrend or downtrend.
    - Check for major key levels.
    2. 1hr/ 30 min check for my trading setup conditions.
    3. 15mn/5m take my entry and make sure all timeframes align.

    TRADING STRATEGY:
    4. Trading strategy for bullish entries conditions:
    - 1.PRICE MAKES AN INITIAL MOVE ABOVE THE 50 EMA
    -2. PRICE CREATES AN INITIAL MAJOR RESISTANCE LEVEL
    -3. PRICE BREAKS THE MAJOR RESISTANCE LEVEL
    -4. PRICE PULLS BACK TO THAT MAJOR RESISTANCE LEVEL
    -5. MAKE SURE THAT PRICE HAS TESTED THAT SAME RESISTANCE
    LEVEL MULTIPLE TIMES OR ATLEAST 3/4 TIMES IN THE PAST

    ENTRY:
    Buying pressure from a candlestick pattern ( Bullish engulfing candle,
    a bullish hammer, a close above candle,

    STOPLOSS:

    - Below the swing low of the pullback, before the buying


    pressure candle
    - 30/35 pips

    TARGET:

    - Next level of structure resistance price will hit if it continues


    higher.
    - Close trade before end of day.

    RISK MANAGEMENT PLAN:


    - Risk per trade = 1% - 2% of my account
    - Overall exposure= 5% of my account
    BEARISH SETUP CONDITIONS:

    1. PRICE MAKES AN INITIAL MOVE BELOWE THE 50 EMA


    2. PRICE CREATE AN INITIAL MAJOR SUPPORT LEVEL
    3. PRICE BREAKS THAT MAJOR SUPPORT LEVEL
    4. PRICE PULLS BACK TO THAT MAJOR SUPPORT LEVEL
    5. MAKE SURE THAT PRICE HAS TESTED THAT SAME SUPPORT
    LEVEL MULTIPLE TIMES OR ATLEAST 3/4 TIMES IN THE PAST

    ENTRY:
    1. Selling pressure from a candlestick pattern (Bearish engulfing
    candle, hammer, close above candlestick

    STOPLOSS:

    - Below the swing low of the pullback, before the buying


    pressure candle
    - 30/35 pips

    TARGET:

    - Next level of structure resistance price will hit if it continues


    higher.
    - Close trade before end of day.

    RISK MANAGEMENT PLAN:


    - Risk per trade = 1% - 2% of my account
    - Overall exposure= 5% of my account
    DURING THE TRADE PROCESS:

    1. CHECK ON FOREX FACTORY IF THERE IS NOT ANY MAJOR NEWS


    EVENTS.
    2. MAKE SURE TO CALCULATE THE LOTSIZE
    3. MAKE SURE TO JOURNAL ALL YOU TRADES WHEN OPENING
    AND CLOSING THE TRADE
    4. TAKE A SCREENSHOT OF THE BEFORE AND AFTER TRADE
    5. DO NOT TRADE WHEN YOUR ARE DISTRACTED
    6. DO NOT MOVE YOU STOPLOSS LET THE TRADE PLAY OUT

    NB: A TRADING STRATEGY IS JUST A STATIC EDGE MADE OF RULES


    NOTHING MORE.

    You might also like