Trading Plan:
Strategic Plan:
Personal profile: Early 40’s, no current dependants, income level meets needs
Take advantage of the current opportunity in cryptocurrency markets over the next 2 plus years
Move into FX market eventually
Goals: i) Short Term: earn 1% compounded daily/monthly/yearly
ii) Long Term: primary source of income and financially independent
Tactical Plan:
Market: I am trading Bitcoins to increase my total BTC
Exchanges: Binance and Bitfinex
Capital: approx. $500 and, I am in either 50% or 100% invested in each setup taken (next initial capital will be $1000)
Risk: 1% - 2% on any one trade (eventually risk parameters will/may increase).
Never risk more than 5%.
R/R: 2:1 (but I often take 1:1)
System: i) at least 66% accuracy, or
ii) many small loses with tight stops; few wins but big gains.
Time Reference: 5 min chart (eventually: 1hr, 4hr, daily)
Setups Used: 1. Market Type 2. Trend Filters
1. Sideways Volatile 2. BB, S&R
1. Bull/Bear 2. EMA, RSI
1. Break-Out 2. BB, EMA, RSI, VWAP
Position Sizing: Elliot Wave + Fibonacci Retracements: entry positions at 38.2%, 50% and 61.8% levels
• Commitment: to the plan for the next 20-30 trades
•. Trade Period Complete: I will review in detail portfolio performance, trading/execution errors made and personal adherence to my trading plan.
Image Credit to: http://forexing24.com/2016/08/20/how-to-make-a-trading-plan/
Great buddhaspalm8 nice post.
I love your dashboard and how you're able to keep things organized so as to track your progress.
I'm just curious how you're able to setup a pretty and decent dashboard for your activities on the Steem blockchain. Is this feature available to everyone? I'm still finding my way around here on Steemit.
Check my article about If you invested $100 on this day last year
You can find the article here If you invested $100 on this day last year
I will follow you!
Hi Muhammad and thanks for you comment. Forgive my ignorance but I am also new to Steem and blogging. So, I'm not quite sure what you mean by "dashboard". To be hones, while I was waiting for my steemit account to be approved, I had logged my information on a simple word document page. Since then, I have copied and pasted it here. The layout is not quite the same as I have made it on my documents page, but only some minor differences that seems I am not able to alter here.