TRADING PLAN

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3 months ago
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Develop-Your-Own-Successful-Trading-Plan

Trading Philosophy/Psychology

1. I believe successful trading is a learned SKILL. It is a science, and consistent profitability is achievable and duplicateable.
2. I define success in trading as total financial freedom. The ability to stay home with my family. The freedom to choose my own schedule, and the ability to provide those I love with every excess, comfort, and opportunity possible.
3. My mental state is a major factor in my success as a trader. I will constantly assess and adjust my trading state in order to maintain a mindset conducive to greatness.
4. I accept as fact, that my success is unlimited. I can achieve anything. Where others see impossibility, I will see unlimited opportunity.
5. I will be disciplined in every regard, and at all times as it relates to my trading plan and execution. I recognize that I am in the markets to become a full time trader. I am interested in profit. Trading is my business.
6. I accept as fact that I will have losses. I will apply strict money management rules in order to limit those losses and maximize my profits.
7. Markets control themselves. My goal it to participate.
8. I am an aggressive day trader in the forex market. I use a Stochastic trading model on an 89T timeframe.
9. I will continue to educate myself on every aspect of trading, with the goal of broadening my market knowledge, and expand that knowledge into commodities.
10. Setbacks are expected, but failure is not acceptable. There is only one option, only one end……..Success.
Money Management
• The starting capital for my live trading account will be $5000.00 USD
• I will use a fixed ratio money management system.
• The starting lot size will be .5 lots, with 1:100 leverage
• Lot size will increase by .1 lots utilizing a $500 Delta.
• Initially, and until trading becomes full time all support tools such as esignal, any membership dues, books, training material, software etc. will be paid for utilizing non trading funds. This is to ensure the trading account balance sustains as little drawdown as possible in the early stages of trading.
• The risk/reward profile will be 1:1 at a minimum, with 1:2 being preferable.

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