I thought I would post my trading plan on here to see if those with more experience than myself see any holes with this plan.
Here’s a quick summary
- Trade on the Daily Charts
- Use Price Action
- Every trade includes a Trailing Stop, which is .3% from my Entry Order and the stop will adjust with profit 10 pips at a time. For example, if profit increases 10 pips my stop loss will automatically move 10 pips and it will continue to do this until the trade is stopped out.
- Each trade will risk 2% of Capital
- Use a Position Size Calculator for correct position sizing
Daily Price Action Plan.pdf (323 KB)