First: Daily preparation before market opens
Time: 30–60 minutes before the trading session starts.
Tasks:
1. Review important currency or stock news for the day.
2. Identify key support and resistance levels for each asset you wish to trade.
3. Check the overall market condition: Uptrend, downtrend, or sideways.
4. Define daily risk size (e.g., 1–2% of capital per trade).
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Second: During trading
Entry Strategy:
1. Rely on 3–4 indicators for confirmation (e.g., RSI + MACD + EMA + Bollinger Bands).
2. Look for candlestick patterns before making a decision.
3. Do not enter a trade unless all analysis conditions are met.
Trade Management:
1. Set a clear stop loss immediately upon opening the trade.
2. Set partial profit targets to secure profits during price movement.
3. Use a trailing stop loss to reduce risk in strong trends.
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Third: After market close
Daily Performance Analysis:
1. Record all trades: Symbol, entry price, stop loss, target, result.
2. Evaluate each trade: Why did it succeed? Why did it fail?
3. Learn from mistakes and note lessons to improve your strategy.
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Fourth: Weekly Follow-up
Time: Weekend after market close.
Tasks:
1. Analyze weekly market trends.
2. Update key support and resistance levels for the upcoming week.
3. Review total profit and loss and assess performance.
4. Develop a new strategy if necessary.
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Additional tips for sticking to the plan
Do not exceed the defined capital limits.
Use a trading journal to record all details.
Stay calm and avoid emotional trading.
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