Every trader needs to have a trading plan. Below is my trading plan. You can use it as a reference to create your own.

Mindset

What is your trading goal?

Be a consistently profitable trader using the strategy detailed below trading my own and prop firm accounts.

How will you achieve this goal?

Every Sunday and workday at the New York close I will check for setups and place orders on my account. This will be at 23h00 CET. I will also document all trades in my trading journal. By 24h00 I must be done and go to bed. During the day I will only check my trades or charts at 7h00, 11h00, 15h00, and 19h00 for 5 minutes max, and then again at 23h00 for the daily New York close.

I will also practice the trading strategy on Tradingview by backtesting all pairs from 5 - 10 years back or at least 100 trades per pair. This is in order to become more proficient in spotting my setups and to reinforce confidence in the strategy.

What are your biggest weaknesses?

Fiddling with trades and overtrading. In general not being consistent enough. Stopping after a losing streak. Trading recklessly after winning streak.

How will you overcome your weaknesses?

• I will limit my exposure to the market to the hours between 23h00 and 24h00 CET.
• I will only trade the daily TF.
• I will trade low-risk position size (1 – 2 % on my personal account, less on prop account).
• I will only take trades that have a minimum of 1:2 RR potential.
• I will consider every trade as money lost.
• I will initially apply set-and-forget trading, but I will manage part of the trade on the 4hr, and daily TF.
• I will set limit and stop entry orders with a stop loss and take profit order
• I will remove limit orders that were invalidated.

What is your daily trading routine?