Written Example XAUUSD Plan Template

Xauusd trading plan checklist - the following is a template example of a plan template example:

JUSTIFICATION

1. XAUUSD IS A BUSINESS, SUCCESSFUL BUSINESSES ALWAYS HAVE PLANS

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

2. TO KEEP ME IN THE RIGHT DIRECTION when Trading Gold

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

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

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

Your plan should cover all aspects of xauusd, you should read the plan every day until it is on your fingertips so that when you are transacting on the fast moving market of xauusd you will always know what to do in every situation.

Your plan can be as simple or as complicated as you like, but the most important thing is that you have one. By having a one you have an advantage over the market, you will have better chances of making a profit than those who do not have one.

This plan checklist tutorial topic provides with an example plan template which you can use for creating your own trade. By now you've already written down the justification part of your plan template, If not get a pen & paper & write the justification part. Next we shall look at how to write the system.

XAUUSD plan is one of the secrets which can help you to improve your profits. A good training guide like this one should show you how to come up with one using a plan template which you can use as an example to develop your own trade plan.

One of the most common question is: Is profitable? one of the techniques to make it profitable is to have a good plan.

IF YOU HAVE A GOOD XAUUSD PLAN & YOU ARE DISCIPLINED ENOUGH TO STICK TO IT When XAUUSD Trading, YOU WILL BE SUCCESSFUL.

GOALS OF THE TRADING SYSTEM

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

The trade system should find a compromise between the 2 Goals,

Find a way to identify a trend as early as possible but also find ways to help you distinguish fake signals from the real ones.

FUNCTIONS OF EACH INDICATOR

MA - Identify a new trend as early as possible.

MACD - Identify a trend as early as possible.

Determine strength of a continuing trend.

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

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

Parabolic SAR - Help to ensure that we aren't caught up on the wrong side of the trend.

Trend Lines - Signals a reversal when the line is broken

Price Action Signals - confirm the weakening of a trend.

Bollinger Band - for price action study

To learn & know more about each indicator & how these technical indicators can be used to generate signal setups you can go to the Technical Indicators Section

TRADING CHART TIME FRAMES

• Main timeframe is the 1H.
• Signals are generated on 15 minute time frame.

15 Minute Charts

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

RULES

LONG ENTRY

Entry

15 Minute Charts

1. Both MAs are moving UP
2. MACD Above Zero Center Line (Not MACD moving UP)
3. RSI >-> 50
4. Parabolic SAR is below the price ( Support )

When signal is generated on the 1 Hour Chart, use the 15 minute chart timeframe to open and close positions.

LONG EXIT

1. RSI gives opposite signal
2. Price breaks Support Trendline
3. Parabolic SAR 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 price ( Support )

When trading signal is generated on 1 H Chart, use the 15 min chart timeframe to open & close trade positions.

SHORT EXIT

1. RSI gives opposite signal
2. Price action breaks Support Trendline
3. Parabolic SAR is hit (Trailing Stop)

ROUTINE

1. Signals are generated using 1H chart timeframe and executed using the 15 minute chart time frame.
2. Trading trading signal to be executed immediately rules are met.
3. Entry alert signals should be executed during daytime.

TIME OF DAY TO WATCH MARKET - MARKET HOURS

Watch market during daytime when most companies & online brokers are open for trade transactions. Use this to create a suitable program.

Example Plan Template

Tips - You can use the MT4 Platform to save this as a xauusd template that way you do not have to lay it afresh every time you open a new chart. If you want to learn how to save a plan template on the MetaTrader 4 platform, read: MT4 Platform Guides.

Gold Money Management

• Day trading - Low risk High return method
• Trade when I have a high risk to reward ratio 3:1 or more
• Stop loss = Parabolic SAR

• Set Take-Profit target 40-60 XAUUSD Pips
• Never transact beyond Three % of account equity
• Never risk more than 2% on a single trade transaction

XAUUSD MINDSET/PSYCHOLOGY

• Trade without Emotions (greed, fear, impulse, bias, anticipation, overexcitement)
• I trade what I see not what I feel.
• I will be patient.

My job isn't to be the system!

It isn't to decide which signal looks promising.

That is the job of my system - which has a set of xauusd guide-lines which tells me this is what I follow. Don't get caught up in price action and make trading rules as you go along.

MY JOB DESCRIPTION IS

To sit patiently & wait for my strategy to indicate that it is time to enter or it's time to exit. And then with great focus I execute xauusd plan as outlined.

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

GOAL: To have 100 Percent undivided resolve on mastering my ability to execute my XAUUSD rules accurately.

The more you develop the ability to step back from price movement and watch the market dispassionately, waiting for a signal, the easier it will be to witness the fluctuations of your emotions without you getting sucked into them & allowing them to throw you off your game.

WEAKNESS

1. I am greedy.
2. I over-trade
3. Make a list of all your weaknesses which are interfering with your trading. This is the first step to help you to overcome these weaknesses. Use XAUUSD psychology to help you to overcome them.

NB: by writing down your weaknesses you will start recognizing them as you make progress, once you do this you will start to avoid these trading mistakes & your results will improve.

GOALS

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

FOLLOW THIS XAUUSD SYSTEM

This is the most important part of creating the system.

Always follow the trading rules

Stick with the trading rules

Be disciplined and patient enough

XAUUSD JOURNAL

Log all my trade transactions in a journal so as to track my training progress & improve my xauusd execution methods.

This strategy uses momentum to determine the trend of any xauusd.

Even if you're new to market and you don't know how a system looks like, this system template example illustrates to you how a strategy should look like, the tutorials described in other sections of this training web site will also explain further different aspects that you need to learn.

Hence, the objective is to help you come up with your own complete strategy that is if you are looking for one, by showing you one that's already complete. In fact you can just use it as it is, or make a few adjustments so that it suits your style.

Aim is to help you improve your results by using a plan, & another advantage is that this trade plan will offer you a chance to improve your knowledge and it will help you improve your results and help you make pips when xauusd and keep them so that you do not keep giving them back to the market.

Read this plan training lesson about developing a trade plan of your own, along with learn courses and strategies listed at top of this learn lesson site.

The Most Beneficial part of using this plan template is the "Gold Money Management Part" you will learn how to trade gold & minimize risk, which is the most important thing when it comes to trading the market.

XAUUSD Plan Checklist - How to Develop a Trading Plan in XAUUSD - XAUUSD Plan Example - XAUUSD Plan Doc