Ruben Topaz , Forex trader and a coach at Home Follow. Full Name Comment goes here. Are you sure you want to Yes No. Sermsak Chaengnet.

• (PDF) TRADING PLAN TEMPLATE CONTENTS | Teodor Kiryakov - .
• The Forex Newbie’s Guide to Building a Trading Plan.
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Darren Clark. Show More. No Downloads. Views Total views. Actions Shares. No notes for slide. My Personal Forex Trading Plan 1. Feel free to share this book in its entirety with the world! Join a 4 hours live webinar studying this book plus insights every second Saturday of the month. I canassure you that the Forex trading methods described in this book work. I tried to make my book as straight forward as I can. I hope that not too many Forex traders will use the trading entry system describedin the last chapter on its own without much market analysis.

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Although, that willstill work rather well as long as money management rules are strictly enforced ,the magic of really great Forex trading results will materialize when all of thedescribed trading concepts will be put together in a harmonic manner. If you are a new Forex trader or a trader that is not yet achieving consistentresults, you will learn a methodical procedure that when followed in its entiretywill yield better than average Forex trading results. Even if you are an expert Forex trader, I still believe that reading this book will notbe a waste of your time; I know that you will learn at least one thing new that youcan easily incorporate into your own Forex trading plan and benefit.

The Forex trading strategy and approach taught in this book is comprehensive andcomplete.

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It includes every aspect of Forex trading that a trader should be awareof. I added two supplementing videos to this book. You can watch them at:www. Basic StrategyJoin a 4 hours live webinar studying this book plus insights every second Saturday of the month. If you are a newForex trader than some or maybe even most of the terms used might confuse you. We search for a correction that is about to end.

It makes sense because if we see atrend on a specific time frame than we are likely to be already too late to make anentry. Our objective is to enter the market at the end of a correction. Our primetarget is the end of waves 2 or B. When price reaches those projected zones, we go to shorter time frames. We lookto see if the pattern appears complete. We once again use the same projectiontechniques that we previously used. We base our analysis on all of our availabletools. After we see that the pattern on the short time frame appears to becomplete then we look at our oscillators for an entry.

Wepatiently wait for both signals. Elliott Wave theoryWhat are the advantages of using Elliott wave analysis? Correct pattern identification:Correct pattern identification can substantially increase the likelihood of our Forextrading success. The most fundamental information that a Forex trader should obtain is torecognize whether the Forex market is trending or correcting. The reason issimple; the market does two things all of the time.

It does that on all time frames at any given moment. Every trend is followed by a correction and every correction is followed by a trend. After the eventual end of the correction thetrend should ultimately continue in the same direction that it was going before thecorrection had begun; very often it would make a new extreme. What is a trend? What is a correction? When the currency market makes overlapping waves, than it is usually a clearsignal that a correction is taking place.

My Personal Forex Trading Plan

An overlap is when price makes a low or ahigh, and then reverses and penetrates that price range of the last wave. Whenthe market overlaps, more often than not it is making a correction. It moves in the same direction asthe trend of the next larger size; a corrective wave is divided into three subwaves. It moves against the trend of the next larger size.

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Each wave is further divided into that very same pattern, like so:In the above illustration, waves 1, 2, 3, 4 and 5 together complete a largerimpulsive sequence, labeled wave 1. The impulsive structure of wave 1 tells usthat the movement at the next larger degree of trend is also upward. It also warnsus to expect a three-wave correction — in this case, a downtrend.

That correction, wave 2 , is followed by waves 3 , 4 and 5 to complete animpulsive sequence of the next larger degree, labeled as wave 1. At that point,again, a three-wave correction of the same degree occurs, labeled as wave 2. Note that regardless of the size of the wave, each wave one peak leads to thesame result a wave two correction. Within a corrective wave, subwaves A and C are usually smaller-degree impulsivewaves. This means they too move in the same direction as the next larger trend.

In Figure 2 below, waves A and C are in the same direction as the larger wave 2. Note that because they are impulsive, they themselves are made up of fivesubwaves.

TRADING PLAN TEMPLATE CONTENTS

Waves labeled with a B, however, are corrective waves; they move inopposition to the trend of the next larger degree in this case, they move upwardagainst the downtrend. These corrective waves are themselves made up of threesubwaves. It is important to remember that Elliott Wave is not a trading method in itself butmore a theory and a great way to understand. Wave A divides into 5 sub waves, wave B divides into 3 sub waves and wave Cdivides into 5 sub waves. A-B-C Guidelines Wave C should go beyond the extreme of wave A. We begin to assume that wave C is over, once price turns and goes back into therange of wave A; at that point the bare minimum conditions for a correction arecomplete.

Once price surpasses the extreme of wave B, we assume that the correction isover. Wave A divides into 3 sub waves, wave B divides into 3 sub waves and wave Cdivides into 5 sub waves. There are 2 kinds of Flat corrections, Normal and Expanded like in the photo flat.

In the expanded flat, wave B exceeds the beginning of wave A and wave C goesbeyond the end of A. In a normal flat, wave B does not exceed the origin of waveA. Each wave divides into 3 sub waves. A triangle usually occurs in wave 4. Or, do you want to look for higher risk trades and are more suited to scalping the markets on the smaller time frames looking for bigger gains? Below I have gone through an example Forex trading plan template that you can use to help create your own trading plan.

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This template will help you think about the sort of questions and rules you need to create in your own trading plan. You can also download a PDF of the trading plan template below. Here are some of the things you will want to think about and add into your own trading plan;. Whilst a trading plan covers your whole trading strategy and the rules you will use overall, a trading checklist can make sure you stay within these rules on each individual trade.