Trade Bitcoin Trading

How to Write a Good Bitcoin Plan

Plan checklist - Below is a template example of a cryptocurrency trading plan for BTCUSD.

JUSTIFICATION

1. BTCUSD Trade IS A BUSINESS, BUSINESSES THAT ARE SUCCESSFUL ALWAYS HAVE A PLAN

  • Businesses that are successful always begin with a plan.
  • Successful business planning will tutorial you to success, think of bitcoin trade plan as a map - it's a constant reminder of how you will consistently pull profits from the btcusd market.
  • Difference between a successful trader and a losing bitcoin trading one is the bitcoin trade plan.

2. TO HELP KEEP ME IN THE RIGHT DIRECTION when Trading BTCUSD

Consistency is important in your routine to measure how successful you are.

Keep you on target, read the bitcoin trade plan every day & stick to its rules.

In your plan template you should think of it as a map guide that shows to you this is what you follow, it should have clear guidelines which specify when you open or close a trade.

Your bitcoin cryptocurrency trade plan should cover all the factors and aspects of bitcoin trading, you should read the bitcoin plan every day until it is on your fingertips so that when you are trading on the fast moving market of bitcoin trading you'll always know what to do in every situation.

Your bitcoin plan can be as simple or complex as you want it to be, but it's most important that you, as a trader, have a plan. If you do, you have an advantage in the btcusd market, and you have a better chance of making money than those without a plan.

This bitcoin plan checklist tutorial gives you a sample bitcoin plan that you can use to create your own bitcoin trade. You should have already written down the explanation part of your btcusd plan, but if not, get a pen and paper and write it down. Next, we will look at how to write the system.

The Bitcoin Crypto Currency plan stands as a key tool for traders to boost their profits. A solid bitcoin training guide like this should teach you how to build one from a bitcoin plan template. Use that template as a model to craft your personal bitcoin trade plan.

Many ask if BTC/USD crypto pays. A solid plan makes it work.

IF YOU HAVE A GOOD BTCUSD Trade PLAN & YOU'RE DISCIPLINED ENOUGH TO STICK TO IT When Bitcoin BTCUSD, YOU WILL BE SUCCESSFUL.

OBJECTIVES AND GOALS OF THE TRADE SYSTEM

  1. Ability to IDENTIFY TREND AS EARLIEST AS POSSIBLE .
  2. Ability to AVOID WHIPSAWS .

The bitcoin trade system should find a reasonable compromise between the two Goals,

Get a way to identify a btcusd crypto trend as early as possible but also find ways and methods to help you as a trader distinguish the fake out whipsaw signals from real ones.

THE FUNCTIONS OF EACH INDICATOR

MA - Identify a new bitcoin trend as early as possible.

MACD - Identify a bitcoin trend as early as possible.

Determine momentum of a continuing trend.

RSI - Swing failure to confirm the start of a new market trend.

Extra confirmation tools to help identify the strength of our market trend.

Parabolic SAR - assist to make sure that we are not caught up on the wrong aspect of the market fashion.

Bitcoin Trend-Lines - Trading Signals a reversal when the line is broken

BTC/USD Crypto Price Action Signals - confirm the weakening of a trend.

Bollinger Band - for btcusd crypto price action study

To learn and know more about each trading indicator and how these technical indicators can be used to generate signal setups you can go to the Crypto Trading Indicators Section

CHART TIMEFRAMES

  • Main chart time frame is the 1H.
  • Signals are derived and generated on the 15 minutess timeframe.

15 Minute Charts

  • Bitcoin Trendlines (Support & Resistance)
  • 5 and 7 LWMA
  • RSI (14)
  • Bollinger Band (20, 2)

RULES

LONG ENTRY

Entry

15 Minute Charts

  1. Both MAs are moving UP
  2. MACD Above Zero Centerline (Not MACD heading UP)
  3. RSI >-> 50
  4. Parabolic SAR technical indicator is below the bitcoin crypto price ( Support )

When a signal is found on the 1 Hour Bitcoin Chart, use the 15 minute crypto chart to decide when to start and end your trades.

LONG EXIT

  1. RSI provides a in the opposite market trend signal
  2. Bitcoin Crypto Currency Price breaks Support Bitcoin Trendline
  3. Parabolic SAR Indicator is hit (Trailing Stop)

RULES

SHORT ENTRY

Entry

15 Minute Charts

  1. Both MAs are moving DOWN
  2. MACD Below Zero Center-Line (Not MACD moving Down)
  3. RSI <-< 50
  4. Parabolic SAR is above the btcusd crypto price ( Support )

When a trading signal is triggered on the 1-Hour chart, utilize the 15-minute timeframe dedicated to cryptocurrency analysis for the subsequent execution and management of trade positions.

SHORT EXIT

  1. RSI gives and provides a in the opposite market trend signal
  2. Bitcoin Crypto Currency Price action breaks Support Bitcoin Trendline
  3. Parabolic SAR is hit (Trailing Stop)

ROUTINE

  1. Signals are generated using 1H chart time frame and executed using the 15 minute bitcoin chart time-frame.
  2. Trade signal to be executed immediately the trading rules are met/matched.
  3. Entry trade signals should be executed during the daytime.

TIME OF THE DAY TO WATCH THE MARKET - MARKET TRADING HOURS

Monitor the market during daytime hours when the majority of companies and online cryptocurrency brokers are operational for trading. Utilize this opportunity to develop a robust trading program.

Example Plan Template

Written System for Bitcoin Plan Example Template - How to Develop One Page BTCUSD Trading Plan Doc

Tips - You can use the MT4 Bitcoin Platform to save this as a btcusd template that way you don't have to lay it afresh every time you open a new crypto chart. If you want to learn how to save a bitcoin plan template on the MetaTrader 4 platform software, read: MT4 BTCUSD Crypto Platform Guides Courses.

Bitcoin Money Management

  • Day strategy - Low risk High return trading method
  • Trade when I have a high risk-reward ratio 3:1 or more
  • Stoploss = Parabolic SAR
  • Set TP target 40-60 Bitcoin Pips
  • Never transact beyond 3 % of trading equity
  • Never risk more than 2% on a single bitcoin trade

Bitcoin MINDSET/PSYCHOLOGY

  • Trade without Emotions (greediness, fear, impulse, bias, anticipation, overexcitement)
  • I trade what I see and not what I feel.
  • I'll be patient.

My job description is not to be the bitcoin system!

It is not to decide which signal looks promising & which doesn't.

This is the function of my bitcoin system - it comprises a defined set of bitcoin rules that dictate my course of action. Avoid becoming overly reactive to minute bitcoin price fluctuations: instead, establish and adhere to your own principles and strategies.

MY JOB IS

I wait calmly for my bitcoin strategy to signal entry or exit. With sharp focus, I carry out the BTCUSD plan as shown.

Taking trades not indicated by the bitcoin strategy, second guessing it & not taking signals given, hesitating & getting in late, anticipating & getting in early are all common-place and boil down to lack of faith in the plan and not having a burning desire on accurate trade execution.

GOAL: To have 100 % undivided focus on mastering the ability to execute my Bitcoin rules accurately.

More you cultivate your ability to step back from bitcoin price movement & watch btcusd market dispassionately, waiting for a btcusd crypto signal, the easier it will be to witness the oscillations of your emotions without getting sucked into them and allowing them to throw you off your game.

WEAKNESS

  1. I am greedy.
  2. I overtrade
  3. Make a listing of all your weaknesses which are interfering with your trading. This is the first step to help you as a trader to overcome the weaknesses. Use Bitcoin psychology to help you as a trader overcome them.

Note: By writing down your weak points, you will start to see them as you improve, and when you do this, you'll begin to avoid those errors, which will make your trading better.

GOALS

  • To focus on the exit just as much as I do on entry signals.
  • Always protect my account using stoploss order, btcusd crypto equity management techniques, follow with the bitcoin crypto trend direction and always following the rules of my bitcoin cryptocurrency strategy.
  • Never second-guess or go against my strategy. To always keep up my discipline.
  • Follow all the guidelines of my bitcoin strategy & never break them.
  • Transact fewer times and execute all my signals correctly. Trade what I see, what the strategy + charts are telling me.
  • Sit patiently and wait for signals from my strategy.
  • Achieve consistent bitcoin results before registering a live account.

FOLLOW THIS Bitcoin SYSTEM

This is the most important part of creating the bitcoin crypto system.

Always follow the rules

Stick with the trade rules

Be disciplined & patient enough

Bitcoin Trade JOURNAL

I write down all my trades in a bitcoin log to keep track of my training and improve my bitcoin trading skills.

This bitcoin strategy uses momentum to figure out the trend.

Even if you are a newbie to the market and unfamiliar with the similarities between a btcusd cryptocurrency system, this example of a bitcoin system template will show you what a bitcoin strategy should look like. Additionally, the Bitcoin tutorials covered in other sections of this training website will go into more detail about the various elements you need to learn.

This guide helps you build your own full bitcoin strategy if needed. You can use the one shown here right away. Or tweak it to fit your BTCUSD trading style.

The objective is to enhance your bitcoin trading results by implementing a bitcoin trading plan. This plan will not only improve your knowledge but will also help you optimize your results and retain profits when trading cryptocurrencies, thereby minimizing losses to the market.

Read this guide to learn how to make your own bitcoin plan, and also find bitcoin lessons and trading ideas at the top of this bitcoin learning website.

The key advantage of utilizing this example of a Bitcoin plan is the "Bitcoin Trade Money Management Section," where you will acquire knowledge on trading Bitcoin while minimizing risks, which is crucial in the Bitcoin market.

Bitcoin Plan Checklist - How to Create a Plan in Crypto Currency - Bitcoin Plan Examples - Bitcoin Plan Doc

Study More Courses:

Bitcoin Broker