Oil Trading Plan Sample

The oil trading plan is systematic approach to oil trading which controls all aspects of the trading.

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

Each oil trading plan template will have its own oil trading rules that have been set sets describing entry and exit crude oil signals. The oil trading rules set for each oil trading system are converted into simple to follow instructions or a oil trading checklist template that the trader can easily follow.

This oil trading checklist template will direct the whole trading process of trading - controlling the timing of the trade entries and exits ( oil trading system) , the value of the opened crude oil trades in relation to the oil trading account balance ( oil trading money management system) and the emotional state of the trader (emotion management system). Resultant trade details should be recorded in the trading journal oil trading log and later studied for the ideas on how to improve each of the oil trading systems.

Trading is often compared to business. If oil trading is business then the oil trading plan is your business plan which should be formulated before you start trading with the real money. The better you prepare this oil trading plan - oil trading checklist template, the more success you can expect to achieve in real crude oil trading.

Oil Trading Plan Template

To write a good oil trading plan, you will need a good oil trading plan template that as a trader you can use to create your own oil trading plan. But before you download the oil trading plan, here is an explanation of the various oil trading plan oil trading checklist sections that your oil trading plan requires to have.

JUSTIFICATION

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

Oil TRADING SYSTEM

This is the oil trading plan part where you include your trading system. In this section you will write the technical indicators to trade with, then you'll write the oil trading system rules that you will generate the oil signals with.

For more guides about oil trading systems

Oil Trade Systems

How to design Oil Trading Systems

How to Write Oil Trading System Rules

Generating Trading Signals

Tips For Oil Trading Systems

Oil Trade Journals.

TIMEFRAME

This is where you specify which is the main crude oil chart time-frame that you'll be trading with.

• Types of Oil Traders - Crude Oil Day Trading & Swing Trading

TRADE ROUTINE

This is the part as a trader that you have to specify the time when you'll be trading the crude oil market and when you generate oil signals and how these oil trading signals should be generated. For example:

1. Signals are generated using 1H oil chart timeframe.
2. Signals to be executed immediately rules are met.
3. Entry trading signals should be executed during daytime.

TIME OF DAY TO WATCH MARKET

Watch market during daytime and trade only during the best oil hours

MONEY MANAGEMENT

This is the part where as a trader you will specify the oil trading money management guidelines that you will follow, for example:

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

• Set TP target 100 Oil Trading Pips
• Never trade beyond 3 % of oil trading account balance
• Never risk more than 2% on a single crude oil trade

To learn more about oil trading money management

• Oil Trading Money Management
• Oil Trading Money Management Methods

MINDSET/PSYCHOLOGY

This is the part you specify about your oil trading psychology rules

• Trade without Emotions (greed, fear, anticipation, impulse, bias, over-excitement)
• I trade what my eyes see not what I feel.
• I will be patient.

My job is not to be the oil trading system!

It isn't to decide which trades looks promising.

Oil Trading Psychology Rules & Guides:

• Oil Trading Psychology
• Oil Trading Psychology & Emotions
• Oil Trading Psychology Principles
• Oil Trading Psychology Rules

WEAKNESS

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

For Example

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

GOALS

Write the goals you want to achieve with your oil trading plan

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

·Always protect my account using stop loss, oil money management methods, trading with the oil trend & always following the rules of my oil trading system & trading plan.

·Never second guess or go against my crude oil trading system.

FOLLOW THIS SYSTEM

This is the most important part of creating the system.

·Always follow the rules

·Stick with the rules

·Be disciplined and patient enough

JOURNAL

Log all my trades in a journal so as to track my progress. Write your Oil Trades on a oil journal to track progress of your trading.

How to Write a Oil Trading Journal