How to Write the Best Bitcoin Trading Plan

The following is a plan example of a best bitcoin trading plan:

JUSTIFICATION

1. Bitcoin Trade IS A BUSINESS, BUSINESSES WHICH ARE SUCCESSFUL ALWAYS HAVE PLANS

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

2. TO HELP KEEP ME IN RIGHT DIRECTION when BTCUSD

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

Keep you on target, read your btcusd plan everyday and stick to it.

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

Your bitcoin cryptocurrency trade plan should thoroughly cover all the factors and aspects of bitcoin trading, you should read your bitcoin trading plan everyday until it is on your finger tips 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 as complicated as you like, but the most important thing is that you as a trader have one. By having a plan you've an advantage over the btcusd market, you'll have better chances of making a profit than those bitcoin traders who do not have a bitcoin trade plan.

This bitcoin trading plan guide topic provides bitcoin traders with an example bitcoin trading plan template which you can use for creating your own bitcoin trade plan. By now you have already written down the justification part of your bitcoin trading plan template, If not get a pen and paper and writedown the justification part. Next we shall look at how to write down the system.

BTCUSD plan is one of the secrets which can help you as a trader to improve your trading profits. A good bitcoin training guide like this one should show and explain to you how to create a bitcoin plan using a bitcoin trading plan template which you as a trader can use as example to develop your own.

One of the most often asked question is, Is Bitcoin Trading profitable? one of the techniques to make it profitable is to have a good bitcoin trade plan.

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

GOALS OF THE BTCUSD Crypto TRADING SYSTEM

Ability to IDENTIFY BTC/USD Crypto TREND AS EARLIEST AS POSSIBLE .
Ability to AVOID WHIPSAWS .

The btcusd crypto 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 methods to help you as a trader distinguish the fake out whipsaw signals from the real ones.

FUNCTIONS OF EACH BTCUSD CryptoCurrency INDICATOR

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

MACD - Identify a bitcoin trend as early as possible.

Determine strength of a continuing cryptocurrency trend.

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

Extra confirmation indicators & tools to help determine the strength of our trend.

Parabolic SAR - Help to ensure that we are not caught up on the wrong side of the market trend.

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

BTCUSD CryptoCurrency Price Action Signals - confirm the weakening of a trend.

Bollinger Band - for btcusd crypto price action study

To learn and know more about each indicator & how these indicators can be used & combined together to generate trade signal setups you as a trader can go to the CryptoCurrency Indicators Section

CHART TIMEFRAMES

Main crypto chart time-frame is the 1H.
Bitcoin Signals are derived & generated on the 15 min chart timeframe.

15 Minutes BTCUSD Charts

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

BTCUSD System RULES

LONG ENTRY

Entry

15 Minute Charts

Both MAs Moving Averages are moving UP
MACD Above Zero Center-Line (Not MACD moving UP)
RSI >-> 50
Parabolic SAR indicator is below the bitcoin crypto price ( Support )

When a signal is derived & generated on the 1H chart, use the 15 min chart time-frame to open and close out trade positions.

LONG EXIT

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

RULES

SHORT ENTRY

Entry

15 Minute Charts

Both MAs are heading DOWN
MACD Below Zero Centerline (Not MACD moving Down)
RSI <-< 50
Parabolic SAR technical is above the btcusd crypto price ( Support )

When signal is generated on the 1 Hour chart, use the 15 min chart time-frame to open and close out trade positions.

SHORT EXIT

RSI provides a in the opposite trend signal
Bitcoin Crypto Currency Price action breaks Support Bitcoin Trendline
Parabolic SAR is hit (Trailing Stop)

ROUTINE

cryptocurrency signals are generated using 1H time frame and executed using the 15 minute bitcoin chart time=frame.
crypto signal to be executed immediately the trading rules are met/matched.
Entry alert signals should be executed during the daytime.

TIME OF DAY TO TRADE MARKET - MARKET TRADING HOURS

Watch market during the day time when most companies and online crypto brokers are open for trade transactions. Use this to create a good bitcoin trading schedule.

Example Plan Template

Written Strategy for Best Bitcoin Trading Plan Example Template - BTC/USD Crypto Trading Plan Template Doc Word Document

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

MONEY MANAGEMENT RULES

Day trading 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 Trading Pips
Never transact beyond 3 % of bitcoin account equity
Never risk more than two percent on one trade

MINDSET/PSYCHOLOGY

Trade without Emotions (greed, fear, impulse, bias, anticipation, overexcitement)
I trade what I see on the charts not what I--feelI--am--feelingMy--feelings--are--telling--me.
I'll be patient.

My job description isn't to be the bitcoin trading system!

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

That is the job of my bitcoin trading system - which has got a set of trading rules that instruct me this is what I follow. Don't get caught-up in bitcoin price action & make trading rules as you go along.

MY JOB IS

To sit patiently & wait out for my bitcoin strategy to indicate that it's time to enter or it's time to exit. And then with great and extreme focus I execute the bitcoin trade plan like as illustrated.

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

GOAL: To have 100 Percentage undivided resolve on mastering the ability to execute my bitcoin trading rules accurately.

More you cultivate your ability to step back from bitcoin price movement & watch btcusd trading market dis-passionately, waiting for a trading signal, the easier it will be to witness the fluctuations of your emotions without you getting sucked in to them & allowing them to throw you off your game.

WEAKNESS

I am greedy.
I overtrade
Make a list of all your weaknesses that interfere with your trading. This is the first step to help you as a trader to overcome the weak-nesses. Use Bitcoin Trading psychology to help you as a trader overcome them.

Note: by writing down your weaknesses you'll start recognizing them as you make progress in btcusd trading, once you do this you'll start and begin to avoid this mistakes and your results will improve.

GOALS

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

FOLLOW THIS SYSTEM

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

Always follow the trade rules

Stick with the rules

Be disciplined and patient enough

Bitcoin Crypto Currency JOURNAL

Log all my bitcoin trades in a bitcoin trading journal so that to track my training progress & improve my bitcoin trading execution methods.

The bitcoin strategy uses momentum to figure out the trend.

Even if you're new to market & you do not know how a bitcoin trading system looks like, this system examples illustrates to you how a bitcoin system strategy should look like, the BTCUSD tutorials explained in other sections of this learn btcusd training web site will also explain further different aspects that you need to learn.

Hence, the aim is to help you as a trader create your own complete bitcoin strategy that is if you're looking for one, by showing you one that's already complete. In fact you as a trader can just use this bitcoin trading plan illustration as it is, or make a few adjustments so that it suits your bitcoin cryptocurrency style.

The aim is to help you as a trader improve your bitcoin trading results by using a bitcoin trading plan that is written, and another advantage is that this bitcoin trade plan will offer you a chance to improve your knowledge and it will help you trade better, make pips & keep them so that as you do not keep giving them back to the bitcoin crypto market.

Read this bitcoin trading plan training guide about developing a bitcoin trade plan of your own, along with learn bitcoin trading tutorials & bitcoin trade strategies listed at the top of this learning guide.

The Most Beneficial part of using this btcusd plan illustration is the "Bitcoin Trade Money Management Part" you'll learn how to trade bitcoin & minimize risk, which is the most important thing in the btcusd market.

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