Scribd
Upload
43 views2 pages

Trade Plan

Uploaded by

gadgetgallerystore01
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
43 views2 pages

Trade Plan

Uploaded by

gadgetgallerystore01
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 2

MY TRADING PLAN

(Breakout/Break-and-retest Strategy)

1. Trading Goals

● Objective: Identifying high probability trades at key demand/supply, support and resistance levels,
and capitalize on breakout and retest setups.
● Target: 2% Percentage Return per week
● Risk Management: Risk Maximum 1-2% of total capital per trade

2. Market Instrument
● Market: Forex/futures
● Timeframe: 5 min and 15 min as primary entry time frame
● Trading hours: New York P.M. Session (4pm-8pm)

3. Strategy Criteria
● Support and resistance Levels: Top-down analysis from higher timeframe, to entry time frame, finding
key levels where price reacted to
● Breakout Criteria: A breakout is confirmed when closes above or below a key level, and only taking a
trading after multiple confirmations

4. Entry and Exit Rules


● For support and resistance: Enter a trade when price action shows clear rejection at a key level multiple
times
● For Break-and-retest: Enter after a confirmed breakout and a successful retest of the breakout level with
a confirmation signal (such as a bullish/bearish engulfing candle)
● Stop Loss: Place stop Loss slightly below a key level like support (for buys) or above the resistance (for
sells)
● Take Profit: Set TP at the next key level. Using at least 1:2 RR or higher
● Trailing Stop: Use trailing stop to lock in profits once price has moved favorably by a certain amount

5. Risk Management
● Position Sliding: Calculate position size based on the risk percentage per trade (distance between entry
and stop loss)
● Risk not more than 2% per trade
● Maximum drawdown: Maximum drawdown is 5% of my total capital a day

6. Monitor and Review Trades


● Daily/weekly Journal: Analyze each trade, noting why it was taken, the result, and any lesson learned.
● Performance Tracking: Maintaining a trading journal, logging entries, exits, reasons for the trade, and
emotions felt during the trade. Evaluate strategy monthly for any necessary adjustments.
7. Psychological Preparedness
● Discipline: Follow the trading plan strictly without deviating due to emotions
● Emotional Management: Take breaks after a streak of wins or losses to maintain a neutral mindset.
Practice mindfulness or meditation techniques to stay calm and focused.

8. Tools and indicators


● Use candlestick and chart patterns for entry confirmations
● Set alerts to avoid missing trades
● Use sessions and kill zones indicator and Supertrend for directional bais

9. Currency Pairs
● GBP/USD
● USDJPY
● GBPJPY
● NQ
● AUDUSD
● XAU/USD

10. Confluences

● Rejecting EMA

● Break of Key Support/Resistance levels that have been tested multiple times

● Volume Spike at the breakout, indicating strong momentum and market participation.

● price breaking above/below the 20 EMA in the direction of the breakout.

● Candlestick Patterns like bullish/bearish engulfing or pin bars at the breakout or retest level.

● Price Action on the retest showing rejection, such as a pin bar or reversal pattern.

● Trendline or key level break

● Chart pattern confirmation

You might also like