I like this plan to work so I can make income from trading to pay my bills. I have BGE bill and worried is not a good feeling, I trust the universe to take care of this for me. But I like to profit from this market.
***I like to read this and when necessary, tune it for more profit. This plan is to my trading business as a business plan would be to any other business. This plan is to me what written plans are for winning quarter-backs / teams (Strategy). I look past trades I missed, there are always trades to be had, when it runs up you can short, if it drops it will rise.
Affirmations:
I am a highly skilled forex trader.I believe in my ability to be a successful forex trader.
I can sense the right time to take action on a trade.
I am patient AND fast-acting.
I am naturally in-tune with the markets.
I like all the work involved in successful trading.
Goals:
Short-term goal is to make pips everyday. And by end of day be positive in pips.Mid-term goal is to know where the currency I am trading is heading and the overall market.
Long-term goal is to be able to trade on a Monthly or Quarterly time frame.
I like to grow in pips consistently and increase my account.
Analysis & Strategy:
- Check fundementals for the pair (any major event coming out).
- 1st look at what is realistic pip profit.
- Is the pair making higher hi and higher lows or lower highs and lower lows?
- Draw daily and weekly support and resistance lines
- Look for H&S and Pennants, Flags, Wedges and other patterns
- Any opposing ABC patterns showing correct trend?
- Draw trend lines on 4hr and 1hr charts
- Use RSI and Bollinger Bands and draw trend lines on RSI
- Look for Doji, shooting star or other candles at support or resistance.
- Am I willing to loose this much $$ on the trade
- Is the price target I am reaching for within the Daily S/R
- Which Zone's Session did this trading happen on
- Is my trade in-line with those I follow and that are good
Questions to ask before placing the trade:
- Is this trade jumping of the chart telling me I'm stupid if I don't trade?
- Did I have to think about this trade over and over again while checking website or tweets for confirmation?
I will learn from this trade no matter which way it goes!
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