Eminimoney Simple Trading Plan

Simple Trading Plan Example

Daily goal:  $200.00 per day

 

Trade Setups in my plan:

Basic Trades

[  ]  Primary Trades           [  ]   Secondary Trades

Advanced Trades

[  ]  Breakout Trades

 

Trading Parameters:

Trading Size: 2 contracts
Trades Per Day: 3-4 trades
Points per day: 2 – 3 points per day

2.10.40 Trading Plan (Baseline Goal)

2 points per day – 10 points per week – 40 points per month

Time of Day:
2 to 3 hours in the morning to achieve your daily goal.

2 hours per day – 10 hours per week – 40 hours per month

 

General Strategy:

Buy qualified support/Sell qualified resistance using market structure and ema filter for conditions to enter trades, use YM, time of day, and Market type (trending, range bound, choppy, low volume, holiday, etc.) as market context, how you will approach THIS particular day.

 

Rules/Conditions for trading

1) Break sup or res
2) EMA confirmation
3) Entry = S&R – EMA’s – Fibs (Correlate)
4) YM agreement

Steps to entry:

1) Measure most recent move to see where 38% and 50% Fib levels are

2) Look on the chart for established support or resistance at or near the fib levels

3) Look on the chart to see where the 5 and 15 EMA’s are

3) Check to see if YM agrees (has same conditions met), or Disagrees (conditions no met)

4) Place limit orders to enter one/two ticks in front of known support or resistance/EMA’s/FIBS

5) Use 2 pt stop bracket orders with 1 pt profit to start using your trading execution platform

 

Steps to exit:

1) Take some profits at 1 pt unless a “scalping range bound market”, then 2 to 3 ticks.

2) Let additional contracts run if trending market AND market continues to make progress

3) Bigger targets, greater than 1 pt = 60M levels known in advance

 

Plan your trade and trade your plan