Trading Plan #1 – the stochastic plan.

What is a trading plan ?

A trading plan has always severals key features :

1 – The Discipline : what is the money management ? what are the rules to stop trading ?

2 – What idea do i follow to trade ?

3 – Sometimes it could be hours on the market, instruments etc…

For our first trading plan, we will use only a Stochastic Oscillator and we recommend to use the Buy and Sell Arrows with Alert.

This indicator will give only order to buy and sell following the arrows…pretty cool ?

For this Trading plan #1, be then simple :

1 – Take a demo account with 1’000 USD – we encourage you to take for example an FXDD demo account going here :

If you prefer to open directly a live account you can go there :

2 – Play small lot of 0.01 to start or 0.1 if your broker doesn’t allow “mini lot”. You need to ask to support of some to get them.

3- Jump on EUR/USD on M5- Play only in the morning in Central European Time  (09:00 to 14:00 max).

Buy when you have a arrow blue up and Sell when you have the arrow red down.

4 – Put a short stop loss at -40 pips always.

5 – Put a take profit at +40 pips – always AND move this take profit if you are reaching it.

6 – Stop to play if you have 3 loses in a row during one day.