Day trading plan sample

Successful day traders set a day trading plan to guide trading business. In this article,we'll take a look at the day trading plan sample.

First how many currency pairs/stocks will day trade?

Successful day traders will trade only one currency pair. For example EURUSD.

Second what is daily/weekly/monthly goals?

Some day trading beginners believe that they can make a lot of money. But I suppose set daily goals will apply pressure and increase odds of making a bad day trade. 

A beginner would base daily/weekly/monthly goals on day trading strategies. For some successful day traders 1% a month is possible.

Third What is the over all, big trend? And how do you pick day trading entry points?

1.Analyze the general trend by looking at the weekly chart. I suppose even a day trader should read the weekly chart. Now let's take a look at a few examples.

EURUSD weekly down trend and range from ctrader

Now only sell the EURUSD at the resistance level.

2.Use the 30 M chart to look for day trading entries. And sell the EURUSD at the lower-highs. The price bounce off the resistance level.

EURUSD 30 m chart from ctrader

Fourth how do you manage positions/grid trading strategies or position sizing strategies?

I'm a fan of all kinds of grid trading methods. I'd like to describe it. Grid trading system may be the best position sizing strategy.

1. sell 0.01 unit at 1.1060
2. Sell 0.02 units at 1.1080
3. Sell 0.03 units at 1.1100

Also You can of course get creative with it.

1. Sell 0.01 unit at 1.1060
2. Sell 0.01 unit at 1.1080
3. Sell 0.01 unit at 1.1100

Fifth how do you pick day trading exit points?

1. Close 0.03 units at 1.1080
2. Close 0.02 units at 1.1060
3. Close 0.01 unit at 1.1050

Also close 0.06 units at 1.1160

Sixth demo day trading. And sticking to your own day trading plan.

Practice,practice,practice. The more you demo, the more you can.

At last when successful day trader aren't day trading, they are practicing, working out, studying their opponents, preparing, preparing, preparing.

So the day trading beginners also research new day trading strategies, review performance, work on goals. And keep a day trading journal.

More reading The art of learning how to not trade

Best day trading plan

In this section we'll show the best day trading plan.

Why am I online stock day trading again in 2017?

Day trading is a freedom job. But I'm not going to begin day trading for a living. Because it is risky.

Only follow the day trading plan can make money. In addition I enjoyed the day trading business.

What factors might affect stock day trading?

I believe stock day trading is a part-time for beginners. So you have to plan time effectively. Usually every night I will write a day trading journal and stock observation card.

Day trading is a serious business,so I won't try day trading if I am angry or happy.And I will prepare two day trading computers.

What stocks am I going to day trade?

Beginning online stock day trading traders should only be focusing on one stock.Because your margin is limited.

I am going to trade Microsoft or Bank of America.

Why these stocks? What specific stock day trading strategies will I use?

They have high liquidity and volatility.

As a day trading beginer,I will use the following strategies:

• Grid trading strategy/martiangle trading strategy
• Buy in an uptrend/trend trading strategy



Bank of America in an uptrend from etoro

How Much Money Am I Going to Allocate to Each Online Stock Day Trading Strategy and Setup?

If you have $10000 funds,will divide that into thirds.Per lot is $100.Obviously don't use full amount of funds.

How Am I Going to Track and Rank My Online Stock Day Trades?

Every successful day trader has day trading track record.And day trading journal.But beginners do not pay attention to these trading tools.They are only interested in money.

1. Account Balance
2. Stocks or currency pair
3. Buy/sell
4. Price bought or sold at
5. Cost
6. Lot size
7. Find the weakness.Did I jump in too soon?Did I chase?

More reading New Year, New Trading Plan: Ask Questions and Don't Skimp on the Answers!