Trade Bitcoin Trading

Bitcoin Plan Sample

The bitcoin plan provides a rational approach to bitcoin trading, controlling all facets of the process.

If you trade bitcoin, you need a btcusd plan template if you want to become a consistent winner and to be able to make bitcoin trading decisions fast & accurately.

Each bitcoin plan template will have its own bitcoin rules that have been set sets describing entry and exit signals. The bitcoin rules set for each bitcoin strategy are converted into simple to follow & adhere to instructions or a bitcoin checklist template that the BTCUSD trader can easily follow.

A comprehensive Bitcoin trading checklist template can guide the entire trading process. It helps manage trade entry and exit timings (Bitcoin trading system), align the value of cryptocurrency trades with your account equity (money management system), and maintain emotional balance during trading decisions (emotional management system). Resultant trade details & particulars should be recorded in the journal bitcoin trading log and later studied for the ideas on how to improve each of the bitcoin systems.

Trading resembles running a business, with the Bitcoin plan acting as an essential blueprint for success. Careful preparation of this checklist template directly influences the level of achievement in live cryptocurrency trading, highlighting its critical role in managing financial ventures responsibly.

Bitcoin Plan Template

Start with a strong bitcoin plan template to build your own as a bitcoin trader. Before you grab the download, see this breakdown of key bitcoin plan sections and checklists.

JUSTIFICATION

This part of your bitcoin plan will write why you require a bitcoin plan, one of the reason is that bitcoin trading is a business.

Bitcoin TRADING SYSTEM

This part of the Bitcoin plan covers your crypto setup. List the indicators for trading Bitcoin. Then add the rules to create signals.

For more tutorials about bitcoin systems

BTCUSD CryptoCurrency Systems

Strategies for Trading Bitcoin Systems Design

How to Systematically Document Bitcoin Trading Rules

Generating Signals

Strategic Approaches for Trading BTCUSD Crypto Systems

BTC/USD Crypto Trade Journals.

TIMEFRAME

Here, you allocate the primary time resolution (timeframe) for the main chart that you intend to employ for your trading endeavors.

TRADE ROUTINE

This is where you, as someone who trades, say when you will trade btcusd and when you will make cryptocurrency signals and how these bitcoin signals should be created. For examples:

  1. Signals are generated using 1H bitcoin chart timeframe.
  2. Trading Signals to be executed immediately the rules are met
  3. Entry trading signals should be executed during the day-time.

TIME OF THE DAY TO WATCH THE MARKET

Watch market during daytime & trade only during the best bitcoin hours

MONEY MANAGEMENT

This section is where you, as the trader, will explicitly define the money management regulations you intend to adhere to: examples of these rules are:

  • Intraday trading -Low risk High return technique
  • Trade when I have a high risk reward ratio 3:1 or more
  • Stoploss = Parabolic SAR
  • Set TP target 100 Bitcoin Pips
  • Never trade beyond 3 % of bitcoin account balance
  • Never risk more than 2% on one bitcoin trade

To learn and know more about bitcoin money management

MINDSET/PSYCHOLOGY

This is the part you specify about your bitcoin psychology rules

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

My job description is not to be the bitcoin system!

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

Bitcoin Psychology Rules & Guides:

WEAKNESS

By writing down your weaknesses you'll begin and start & begin recognizing them as you trade, once you do this you will begin and start to avoid this mistakes & your trading will improve.

For Example

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

GOALS

Write the goals that you want to achieve with your bitcoin plan

·To focus on the exit just as much as I do on the entry.

I always protect my account with stop-loss orders, solid money management, trading with the bitcoin trend, and sticking to my own system's rules.

·Never second guess or go against my cryptocurrency system.

FOLLOW THIS SYSTEM

This is the most important part of creating the system.

·Always follow the trade rules

·Stick with the trading rules

·Be disciplined and patient enough

JOURNAL

I maintain a comprehensive log of all my trade placements in a journal to monitor my development. Document your Bitcoin Trades within a dedicated bitcoin journal to track your trading advancement.

The Practice of Maintaining a Bitcoin Trading Diary

Get More Lessons and Guides:

Bitcoin Broker