Written Example Template

The following is a trading plan template of a best plan:

JUSTIFICATION

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

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

2. TO KEEP ME IN RIGHT DIRECTION when Trading XAUUSD

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

Keep you on target, read your plan every day & stick to it.

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

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

Your plan can be as simple or as complicated as you want, but most important thing is that you have one. By having a plan you have an advantage over the market, you'll have better odds of making a profit than those traders who don't have a trade plan.

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

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

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

IF YOU HAVE A GOOD XAUUSD PLAN AND YOU'RE DISCIPLINED ENOUGH TO STICK TO IT When XAUUSD Trading, YOU'LL BE SUCCESSFUL.

GOALS OF THE Gold TRADING SYSTEM

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

The system should find a compromise between the 2 Goals,

Get 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 XAUUSD TECHNICAL 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 start of a new gold trend.

Extra confirmation indicators and tools to help determine 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 trend line is broken

Price Action Signals - confirm the weakening of a trend.

Bollinger Bands - for price action study

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

CHART TIME FRAMES

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

15 Min Charts

• Trend-Lines (Support and Resistance)
• 5 and 7 LWMA
• RSI (14)
• Bollinger Band (20, 2)

XAUUSD System RULES

LONG ENTRY

Entry

15 Min Charts

1. Both Moving Averages 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 a signal gets generated on 1 Hour Chart, use the 15 min time frame to open and close positions.

LONG EXIT

1. RSI gives an opposite signal
2. Price breaks Support Trend-Line
3. Parabolic SAR is hit (Trailing Stop)

RULES

SHORT ENTRY

Entry

15 Min Charts

1. Both Moving Averages 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 signal gets generated on 1H Chart, use the 15 min time frame to open and close positions.

SHORT EXIT

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

ROUTINE

1. signals are generated using 1H time frame & executed using the 15 min time frame.
2. gold trade signal to be executed immediately rules are met.
3. Entry alert signals should be executed during daytime.

TIMELINE OF DAY TO TRADE MARKET - MARKET HOURS

Watch market during daytime when most companies & brokers are open for trades. Use this to develop a good xauusd schedule.

Example Trading Plan Guide

XAUUSD Tips - You can use the MT4 Platform to save this plan example as a xauusd template on the MT4 platform - that way you don't have to lay it afresh every time you open a new chart. If you want to learn how to save a template on the MT4 platform, read: MT4 Software Tutorials.

MONEY MANAGEMENT PRINCIPLES

• 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 Pips
• Never transact beyond 3 % of account equity
• Never risk more than 2 % on one trade

MINDSET/PSYCHOLOGYMINDSET--and--PSYCHOLOGYMINDSET--&--PSYCHOLOGY

• Trade without Emotions (greed, fear, impulse, bias, anticipation, overexcitement)
• I trade what my-eyes see not what I feel.
• I--willI'll be patient.

My job description isn't to be the system!

It's not to decide which signal looks promising.

That's the job of my system - which has a set of rules that tells me this is what I follow. Do not get caught up in price action & make rules as you go along.

MY JOB IS

To sit patiently and wait for my strategy to indicate that it is time to enter or it is time to exit. And then with extreme focus I execute trade plan as outlined.

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

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

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

Note: by joting down your weaknesses you'll start recognizing them as you make progress in gold trading, once you do this you'll begin to avoid this mistakes and 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, money management methods, follow with the trend direction & always following the rules of my xauusd strategy.
• Never second guess or go against my strategy. To always keep up my discipline.
• Follow all the rules of my strategy & never break them.
• Trade fewer times and execute all my signals correctly. Trade what I see, what the system + charts are telling me.
• Sit patiently and wait for signals from my gold strategy.
• Achieve consistent profitable results before signing up a live account.

FOLLOW THIS SYSTEM

This is the most crucial part of creating the system.

Always follow the rules

Stick with the rules

Be disciplined & patient enough

Gold JOURNAL

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

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

Even if you are new to market and you do not know how a system resembles, this system example shows to you how a system strategy should look like, the tutorials explained in other sections of this learn training website will also explain further different aspects that you need to learn.

Hence, the objective is to help you develop your own complete strategy that is if you're looking for one, by showing you one that is already complete. In fact you can just use this plan example as it is, or make a few adjustments so as it suits your style.

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

Read this plan training tutorial about developing a trading plan of your own, along with learn courses and strategies shown at the top of this learning tutorial.

The Advantageous part of using this plan template is the "Gold Equity Management Part" you'll learn how to trade gold and minimize risk, which is the most crucial thing when it comes to the market trading.