KEMBAR78
Trader Profile and Trading Plan | PDF | Economies | Market (Economics)
Scribd
Upload
306 views2 pages

Trader Profile and Trading Plan

This document outlines a trading profile and plan for a trader named Bennett. The optimal trading models are intraday trading lasting 1-5 hours or short-term trading lasting 1-3 days. The trader has $1000 starting capital and aims to make 50-100 pips on average 1-3 times per week, focusing on the EURUSD and VIX75 currency pairs. The risk management plan limits losses to 2% per day and 5% per week, and targets 3-5R profit per trade.

Uploaded by

Benita
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
306 views2 pages

Trader Profile and Trading Plan

This document outlines a trading profile and plan for a trader named Bennett. The optimal trading models are intraday trading lasting 1-5 hours or short-term trading lasting 1-3 days. The trader has $1000 starting capital and aims to make 50-100 pips on average 1-3 times per week, focusing on the EURUSD and VIX75 currency pairs. The risk management plan limits losses to 2% per day and 5% per week, and targets 3-5R profit per trade.

Uploaded by

Benita
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 2

Trader Profile (Bennett): Personality Short on Patience.

Trader has a smart phone for updates, order


entry, stop management etc.

Optimal Model(s): Dominantly - Intraday Trading 1-5 Hours in Duration

Short-Term Trading 1-3 Days in Duration.

Time Available: Open to Market Conditions

Trade Objectives: 50-100 pips on average.

Trade Frequency: 1-3 times Per Week

Trading Days of Focus: Undecided

Monthly Objective: 25% or 30% (Refer to Month 1 Wealth Building doc for in-depth long-term
analysis)

Starting Capital: $1000

Pairs for Daily Analysis: EURUSD, VIX75.

Pairs for Demo Trades: EURUSD, VIX75.

Trading Plan

I will look for opportunities only in these markets strictly.

a. EURUSD
b. VIX75

Rare Cases

a) Undecided

Years’ Target – N1Million

1. Risk per trade, 2% per trade position.

Max trade loss for a day – 2%


Max trade loss for a week – 5%

At any moment, the percentage is exceeded, that is all for the day or week. It means, I can only
lose 2% max in a day, and I can only lose 5% max in a week.
(PS – If there are losses consecutively for 2 weeks, which totals 10%, take a week off to re-assess
and come back later).

2. Trade Objectives: 3-5R at least. Once 3-5R is achieved, 80% of position size is closed if at all the TP
is still distance away.
3. No SL shifted after entering a trade. Either it takes me out, or I close the trade myself. But no
shifting of SL. This will mean that every trade must be carefully planned before entering at all.

4. Closing of trade position every Friday – Except in exceptional cases, where the premise is on a HTF
bias (monthly, weekly).

5. After a major win (10% and above), take a break off trading for that week till the next week. This
curbs addiction to trading.

6. There should be no trading in these environments: i. High Impact Speech ii. FOMC related event
iii. Nonfarm Payroll

These environments are “wild cards”, and price can do unexpected things.

These should be days you strictly do nothing.

Exit existing trades and stay out of the market during this event, till the event is over. Preserving
your capital should be your priority.

7. --------------------- will be excluded from trading days. These days should be to boost your trading
psychology – listen to a podcast, watch a video, read a book, etc. Except in rare cases where you
really must, wait for NYKZ (New York Kill Zone):

------------------------- are the major trading days where I scout for opportunities. Less trading, high
rewards.

8. If the market is not one-sided, an obvious high or low to purge, then do not engage. It MUST be
one sided as this makes it high probability. Consistency is only found with this approach.

9. The market will always remain probabilistic. There should always be a perception of risk when
entering trade positions in the market

You might also like