Trading plan guide for accountability purposes
Trading plan with modifications for a funded account with a dynamic stop loss
Author: Diego (Magneto)
I try to live and trade base in these 4 principles:
1. Focus on process
2. Tolerate discomfort
3. Live the now
4. Accept risk
Special observations and adjustments for a founded account until I grow my founded account 2 times the size of the dynamic stop
Only 3 trades a day or until 11 am CT USA whatever comes first
Only the cash session
Stop loss 10 ticks risk in ES/ reward 1:1.2 or more with a win percentage higher than 50%
Stop loss 25 ticks risk in RTY/ reward 1:1.2 or more with a win percentage higher than 50%
Expectancy goal at +1 or more
Go slow small progress is better than no progress
Only 1 lot contract for now
Note: All this rules can be modified after an evaluation when the dynamic stop gets remove
Only one product at the time
Never think in P&L (I only check my P&L once a month) I think in ticks and targets
Physical and mental preparation:
Pray and be thankful for a what I had accomplished and great things in my life and have in mind the thing happen for me and not to me.
Breathing exercises from Win Hoff
Vitamins and supplements and prepare a gallon of water for the session (hydration is essential to connect the 2 brain hemispheres)
Cardio 30 min
Meditation 30 min
Breathing exercises from Win Hoff 11 min
Dont turn on the computer until accomplished my morning ritual
How do I feel? Im in conditions to trade?
Breathing exercise in the middle of the session or after a loss
Fill out a page with a list of things I'm thankful for.
Premarket y price anchorage:
Disconnect from phones, social media and any other distraction no trading related, even trading chats can create distraction
Analyze the market and create context interpretation, analyze weekly, daily and session context
Mark zones of high probability (liquidity and imbalance areas)
Create hypothesis with risk management:
o What the price want to do?
o What is the structure?
o What is the price ease?
o Where can we get possible reversals?
o Visualize negative and positive scenarios
I use volume-price analysis and high and lows from previous sessions.
I straggle in cutting my winners too soon.
Post market
Analyze mistakes and missing trades
Write results in excel to check expectancy, %wins, %loss, timing (never P&L)
Write emotions in emotional journal 'how I felt in a particular situation and possible solutions"
20 min cardio
work out
20 min cardio
Try to never talk or see the market outside the office and have and enjoy other activities no trading related