Building Your First Trading Plan

Consistency doesn't come from prediction; it comes from rules. A plan turns "gut feelings" into a checklist you can follow and improve. Plans don't guarantee profits, but they prevent chaos. Version 1 > no plan.

💡 Tip: Keep your plan visible near your screen.

• Goals — behaviours to execute (not profit targets). Example: "30 demo trades with journaling in 30 days."
• Strategy — instruments, timeframes, entries, exits, filters (when not to trade).
• Risk Rules — risk %, minimum R:R, max daily trades, drawdown stop, correlation/news rules.
• Psychology & Discipline — pre‑trade emotion check, checklist, journaling cadence.
• Review & Adapt — schedule, stats you'll track, how to adjust (one change at a time).

• Specific: "Trade only EUR/USD on M15."
• Measurable: "30 trades."
• Achievable: fits time and skill.
• Relevant: builds core skills.
• Time‑bound: "in 30 days."

GOALS:
- Purpose: ____________________________
- SMART #1: Make 30 demo trades with ≤2% risk per trade over the next 30 days.
- SMART #2: Journal after every trade and review weekly (Sun 18:00).
- SMART #3: ___________________________

STRATEGY:
- Instruments: EUR/USD
- Session: London session (08:00–11:00)
- Timeframe(s): M15 entries, H1 trend
- Entry criteria: Pullback to prior swing + bullish candle confirmation
- Invalidation (SL): Below last swing low
- Target / exit: Next resistance or 2R
- Filters (avoid): High‑impact news (NFP, CPI)

💡 Tip: Keep it minimal first; add nuance after 30+ trades.

• • Per‑trade risk ≤ 2%
• • Minimum R:R 1:2
• • Max 3 trades/day; stop if drawdown hits 10%
• • No stacking correlated pairs; avoid high‑impact news

BEHAVIOUR:
Pre‑trade: emotion check ≤ 3, checklist, size risk, note plan.
During trade: no interference unless stop/target or rules.
Post‑trade: journal outcome & emotion; weekly review Sunday.

REVIEW:
- When: Weekly review (Sunday 18:00)
- How: Export journal; tally stats (win rate, avg R, mistakes).
        Adjust one rule only if supported by enough data.