CREATING A TRADING PLAN

A trading plan is a guide that will help you not only stay logical,
but focussed. It gives you a set of rules to abide by during
your trading career and if you follow them (according to your
standards), you should be happy with the end result either way.
Plans and rules allow you to not only stay consistent but to stay
structured so you do not ever over leverage and do not ever do
something that is not in accordance with your plan.

GOALS:
• What are your goals? (Short & long term)
• How much are you wanting to make a week?
• How many pips do you want to catch per trade?
• Why are you trading? (Not just for money - be specific!)

PAIRS:
• What pairs are you going to trade?
• Keep it to 2-3 but really try to hone in on and master 1 if you
want to be super advanced.

SESSIONS:
• Are you going to trade during a specific session?
• What session / times do you want to be trading?
• Are you going to set an alert for yourself and only trade when
price hits your alerts?

RISK MANAGEMENT:
• What is your Risk to Reward ratio?
• Will you only place one of every trade?
• How much % on your account will you or will you not risk
per trade?
CONFLUENCES:
• Price to break a key level
• Price breaking a trendline
• Moving Average crossover
• Candlestick formation on a key level
• How many confluences do you need before you trade?
• Fundamental news coming out and knowing where it is going.

TRACKING YOUR TRADES:

• Are you going to set up a MyFXBook?
• Are you going to have a trading journal?
• Are you going to document all of your trades?
• Are you going to be consistent with studying the data it
presents or are you going to just forget about it?
• Make sure to keep track of it all including your emotions
at the time of placing a trade.

MONEY GOALS:
How much money do you want to make per month? Realistically?
Meaning if you have never made $25 000 in a month trading, do
not put $50k per month or $25k per month. Will it be an extra
$1k or $3k a month? Later on down the road, you can always
adjust your goals, but atleast have something to work towards.

THINGS TO ASK YOURSELF:

• Are you using indicators?
• What leverage will you be trading with?
• Do you want to scale in on your trades or no?
• Will you be using a regulated or unregulated broker?

These are some of the questions to ask yourself before you

embark on a trading career! You must have a plan.
 (EXAMPLE) SWAGGY’S TRADING PLAN
BACK IN 2016
I, Chris Williams am a great trader. I have plenty to show for it.
I can call a move, a mile away, and still not execute it properly.
A perk of being a great trader is being able to execute your called
trade. What is the point of calling a trade out without executing it?
Look at Rule #23 in the 25 Rules of Trading!

ONLY ENTER ON 3 CONFIRMATIONS:

• Doji
• Use Fibonacci (MAIN)
• Moving Averages (MAIN)
• Double Top / Double Bottom
• Goes with Trendline (MAIN)
• Supply / Demand (Key Areas)
• Candlestick Patterns (MAIN)
• Support & Resistance (MAIN)
• Is the market breaking structure? (MAIN)
• Breakthrough / Retest / Continuation (MAIN)

If price is moving/ breaking out, we wait for a 1HR / 4HR close of

the candle in order to trade it. We do not experience FOMO. We
do not experience FOMO. WE DO NOT EXPERIENCE FOMO.

Once a candle breaks through consolidation on the daily and

closes above, the next few days or hours will reverse and
retest it! Don’t be fooled!

We do not trade after 3PM.

We do not want to get hit with crazy swap fees.
Just wait until after 5, and then get ready for London.
Depending on the pair is what session we trade. I have no
problem staying up from 3am - 7am for GBP pair because that’s
the pair of the week. Or trading between 8pm - 11pm because
of CADJPY or AUDJPY.

God bless me to achieve my trading goals that I desire this week.

I will pay my tithes with whatever I withdraw.
In Jesus Name. AMEN.

Food for thought for the future: If your goal is a certain

number, and you are as close to that number as possible: TAKE
PROFIT. Don’t try to maximize gains. After you reach your
GOAL, try to maximize your gains. You look for $70 and the
market gives you $60. TAKE IT, don’t look for $150. AFTER
you reach your goal, you can look to HOLD trades as long as
possible. We want GREEN checks in our “target for the week
folder” and that requires reaching your GOALS first.

I DON’T CARE IF YOU HAVE TO USE A 0.5 LOT. If the risk is

40 pips or 50 pips, but the setup is beautiful, that’s the LOT
SIZE YOU USE!!! No more, “I’ll just use a 0.50 with a 5 pip
SL and hope not to get wicked out.” Like no.
You’re going to experience a wick and drawdown.
Use risk-to-reward ratio, EFFECTIVELY and PRECISELY.

We trade on the 4Hr time frames. We look above (D/ W/ M) for

stronger key areas & we look lower for entries. We trade Aisan
and New York/ London OVERLAP into New York!

If you make 20 - 40 pips for the day, relax. Get out. Enjoy your
day. If you see an EASY set up, take it. Otherwise, don’t go out
of your way looking for set ups.

I’m Chris Williams and I refuse to blow another account due

to greed and risking too much!!!! 100 % REFUSE!!!
 FINAL NOTES
That trading plan is FAR from my trading plan now. I just wanted
to give you guys a glimpse of where I was back in 2016.
Just trying to make it, but sticking to the plan. Obviously I go for
100+ pips, as opposed to 20 - 40. My lot sizes are A LOT higher
and I use the 15min for entries when I did not do that years ago.
I traded specific sessions back then and now I do not.

There is no right answer. It all depends on who you are.

Figure out who you are, write a trading plan, document your
trades via MyFXBook or your own personal journal, and follow
through with your plan.

Not everybody is the same. Everybody does not trade the same
way. Everybody does not analysize the same way. What worked
or did not work for me, may not work or work for you. It is all
about perspective.

Create your trading plan and follow it. Look up a year from now
and tell me how you feel and how you have changed from it, or if
the trading plan was perfect and you stuck it through.

Food for thought: It is okay to alter your trading plan. This was
my trading plan back in 2016 and is not my plan 4 years later.

Trading plans and trading journals are vital. If you want to be a

trader, BE A TRADER. Regurgitate this information and study it
over and over and over again.

Be proud that you are learning the ins and outs of trading, and if
you are not - at least be proud of making it this far without quitting
yet. Once you start your live account, your psychology levels will
be controlled, or at least better, and that is all we want.