Indices Trading Plan Sample
The indices trading plan is the systematic approach to indices trading which controls all aspects of the trading.
If you trade indices , you need a indices trading plan template if you want to become a consistent winner and to be able to make indices trading decisions fast and accurately.
Each indices trading plan template will have its own indices trading rules that have been set sets describing entry and exit stock indexes trading signals. The indices trading rules set for each indices trading system are converted into simple to follow instructions or a indices trading checklist template that the indices trader can easily follow.
This indices trading checklist template will direct the whole trading process of trading - controlling the timing of the trade entries and exits ( indices trading system) , the value of the opened stock indexes trades in relation to the indices trading account balance ( indices trading money management system) and the emotional state of the indices trader (emotion management system). The resultant trade details should be recorded in the trading journal indices trading log and later studied for the ideas on how to improve each of the indices trading systems.
Trading is often compared to business. If indices trading is business then the indices trading plan is your business plan which should be prepared before you start trading with the real money. The better you prepare this indices trading plan -indices trading checklist template, the more success you can expect to achieve in real stock indexes trading.
Indices Trading Plan Template
To write a good indices trading plan, you will need a good indices trading plan template that as a indices trader you can use to come up with your own indices trading plan or just use this downloadable indices trading template. But before you download the indices trading plan, here is an explanation of the various indices trading plan indices trading checklist sections that your indices trading plan requires to have.
JUSTIFICATION
This part of your indices trading plan will write why you require a indices trading plan, one of the reason is that indices trading is a business.
Indices TRADING SYSTEM
This is the indices trading plan part where you include your stock indexes trading system. In this section you will write the indices indicators to trade with, then you will write the indices trading system rules that you will generate the indices trading signals with.
For more tutorials about indices trading systems
How to design Indices Trading Systems
How to Write Indices Trading System Rules
Generating Indices Trading Signals
Tips For Indices Trading Systems
TIMEFRAME
This is where you specify which is the main stock indexes trading chart timeframe that you will be trading with.
TRADE ROUTINE
This is the part as a indices trader that you have to specify the time when you will be trading the stock indexes trading market and when you generate stock indices signals and how these indices trading signals should be generated. For example:
- Signals are generated using 1H indices chart time frame.
- Signals to be executed immediately rules are met.
- Entry signals should be executed during daytime.
TIME OF DAY TO WATCH MARKET
Watch market during daytime and trade only during the best indices trading hours
MONEY MANAGEMENT
This is the part where as a indices trader you will specify the indices trading money management rules that you will follow, for example:
- Day trading -Low risk High return method
- Trade when I have a high risk to reward ratio 3:1 or more
- Stop loss = Parabolic SAR
- Set TP target 100 Indices Trading Pips
- Never trade beyond 3 % of indices trading account balance
- Never risk more than 2 % on a single indices trade
To learn and know more about indices trading money management
MINDSET/PSYCHOLOGY
This is the part you specify about your indices trading psychology rules
- Trade without Emotions (greed, fear, anticipation, impulse, bias, overexcitement)
- I trade what my eyes see not what I feel.
- I will be patient.
My job is not to be the indices trading system!
It is not to decide which trades looks promising.
Indices Trading Psychology Rules and Tutorials:
- Indices Trading Psychology
- Indices Trading Psychology & Emotions
- Indices Trading Psychology Principles
- Indices 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
- I am greedy.
- I overtrade
- Make a list of all your weaknesses that 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 that you want to achieve with your indices trading plan
·To focus on exit just as much as I do on entry.
·Always protect my account using stop loss, indices trading money management methods, trading with the indices trend and always following the rules of my indices trading system & trading plan.
·Never second guess or go against my stock indexes 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 trading journal so as to track my progress. Write your Indices Trades on a indices trading journal to track progress of your trading.
