Simple Trading Plan - futures io
futures io futures trading



Simple Trading Plan


Discussion in Psychology and Money Management

Updated
      Top Posters
    1. looks_one wh with 5 posts (2 thanks)
    2. looks_two Delta_Panther with 2 posts (0 thanks)
    3. looks_3 sharky with 1 posts (0 thanks)
    4. looks_4 BigDog with 1 posts (0 thanks)
    1. trending_up 6,247 views
    2. thumb_up 2 thanks given
    3. group 4 followers
    1. forum 10 posts
    2. attach_file 3 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

Simple Trading Plan

(login for full post details)
  #1 (permalink)
Neubrandenburg, Germany
 
Experience: Advanced
Platform: R
Trading: Stocks
 
wh's Avatar
 
Posts: 538 since Jun 2009
Thanks: 298 given, 503 received

Hello,

i found this in a book and nice to share:
For my style i use Example 2, because i need only 200 Ä / day.
So i have money for life and money for acc.
Here are three examples of having a plan.

Example 1
Trade 15 trades with one lot per trade, per week, for 10 pips, with an average profit of $10 per trade; 150 pips per week at $10 equals $1,500 per week. Letís add a vacation, as in the next example.

Example 2
Some would say this example is the goal of a part-time trader:
Trade 10 points a day.
The broker pays an average $10 a point (pip) = $100 per day.
Trade five days per week = $500 per week.
Trade 40 weeks a year (includes a three-month vacation).
Trade one lot per day = $20,000 per year.
Trade five lots per day = $100,000 per year.
Trade 10 lots per day = $200,000 per year.

Example 3

This example involves only one currency combination with focus and selective trading.
We will assume that the trader is trading only the $JPY (Japanese yen) on a standard
account, with the goal to obtain 100 pips per lot per week.
Pick one or develop your own plan. Start small with only two to four trades per
week and set a goal to develop into a 40-lot trader. The example that follows is based on
obtaining 100 pips per lot per week and the $JPY paying an average of $8.50 per pip.
100 pips with 1 lot ◊ $8.50 = $850 per week.
100 pips with 2 lots ◊ $8.50 = $1,700 per week.
100 pips with 3 lots ◊ $8.50 = $2,550 per week.
100 pips with 4 lots ◊ $8.50 = $3,400 per week.
100 pips with 5 lots ◊ $8.50 = $4,250 per week.
100 pips with 10 lots ◊ $8.50 = $8,500 per week.
100 pips with 15 lots ◊ $8.50 = $12,750 per week.
100 pips with 20 lots ◊ $8.50 = $17,000 per week.
100 pips with 30 lots ◊ $8.50 = $25,500 per week.

Best regards wh

Started this thread Reply With Quote
The following user says Thank You to wh for this post:

Can you help answer these questions
from other members on futures io?
get orders from Order Tracker
MultiCharts
The NT8 Tick Replay - is it needed anymore
NinjaTrader
Financial Modeling Prep (free to use: financialmodelingprepcom) API
Trading Reviews and Vendors
Best way to work around the individual windows and create one workspace
NinjaTrader
Moores Research vs spread software SeasonAlgo
Trading Reviews and Vendors
 
Best Threads (Most Thanked)
in the last 7 days on futures io
The war of the two worlds (options traders vs futures traders)
109 thanks
Big Mike in Ecuador
54 thanks
Spoo-nalysis ES e-mini futures S&P 500
50 thanks
The Small Exchange (www.smallexchange.com)
47 thanks
How did you learn to trade?
37 thanks
 
(login for full post details)
  #2 (permalink)
Neubrandenburg, Germany
 
Experience: Advanced
Platform: R
Trading: Stocks
 
wh's Avatar
 
Posts: 538 since Jun 2009
Thanks: 298 given, 503 received

Have build an xls sheet for simple trading plan for one acct.

In this case you have no real or better no fixed stopp. My sl is a trail on HH,LL,HL,LH.

Thats why you have a large drawdown. But i look for 13 pips per day (and 250 per month).

The third target makes the money for your lifestyle.


Can not upload odt files.

WH

Attached Files
Register to download File Type: xls trading plan v02.xls (10.5 KB, 179 views)
Started this thread Reply With Quote
 
(login for full post details)
  #3 (permalink)
Chicago
 
 
Posts: 60 since Jun 2009
Thanks: 0 given, 17 received


now the hard part is making those pips....

Reply With Quote
 
(login for full post details)
  #4 (permalink)
Neubrandenburg, Germany
 
Experience: Advanced
Platform: R
Trading: Stocks
 
wh's Avatar
 
Posts: 538 since Jun 2009
Thanks: 298 given, 503 received


BigDog View Post
now the hard part is making those pips....

trend is your friend. i look in a 34 range chart for signals.

Attached Thumbnails
Click image for larger version

Name:	runintrend.png
Views:	223
Size:	600.6 KB
ID:	1089   Click image for larger version

Name:	runintrend 002.png
Views:	142
Size:	602.8 KB
ID:	1090  
Started this thread Reply With Quote
 
(login for full post details)
  #5 (permalink)
Neubrandenburg, Germany
 
Experience: Advanced
Platform: R
Trading: Stocks
 
wh's Avatar
 
Posts: 538 since Jun 2009
Thanks: 298 given, 503 received

here you can get some infos for trend trading. this is quite simple, if you are not
greedy. so you will pick some pips.



Started this thread Reply With Quote
The following user says Thank You to wh for this post:
 
(login for full post details)
  #6 (permalink)
Switzerland
 
 
Posts: 112 since Aug 2009

I was teached not to make any planing of how much I want or have to make per day or month. I was teached, it doe's not work like that.

If you plan like that, you will block your mind when you fail. So to resolve the problem was to look at a wider time frame like 3 month or even one year.

Do you people agree ?

Regards

DanPickUp

Reply With Quote
 
(login for full post details)
  #7 (permalink)
MIAMI,FL
 
Experience: Advanced
Platform: NinjaTrader
Broker: Private
Trading: Zn,6E,6J
 
sharky's Avatar
 
Posts: 1,060 since Jun 2009
Thanks: 624 given, 3,900 received

no you have to trade any way that works for you if you need to say hey i need 2000 dollars per day then trade to make 2000 dollars per day if you need to look at a long time frame then do that what ever works for you is how you should trade and what works for me might not be right for you,learn to break these crazy mindsets that what we are taught is correct thats bull,everyone teaches something different so does that make them all right or all wrong no what works for you is right...sharky

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #8 (permalink)
Hartford, CT. USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: AMP/CQG, Kinetick
Trading: RTY
 
RJay's Avatar
 
Posts: 688 since Jun 2009
Thanks: 747 given, 780 received


sharky View Post
no you have to trade any way that works for you if you need to say hey i need 2000 dollars per day then trade to make 2000 dollars per day if you need to look at a long time frame then do that what ever works for you is how you should trade and what works for me might not be right for you,learn to break these crazy mindsets that what we are taught is correct thats bull,everyone teaches something different so does that make them all right or all wrong no what works for you is right...sharky

I couldn't agree more. I am such a spaz about it that I developed my own indicators, strategies, and bar charts.



RJay

Reply With Quote
 
(login for full post details)
  #9 (permalink)
Switzerland
 
 
Posts: 112 since Aug 2009

So, it looks like if you two have your own trading styles and thats what it is finally all about. Great for you !!

I am still in the learning curve like many other ones and I am getting slowly better.

Good trading

DanPickUp

Reply With Quote
 
(login for full post details)
  #10 (permalink)
Tucson, AZ
 
 
Posts: 418 since Aug 2009



wh View Post
here you can get some infos for trend trading. this is quite simple, if you are not
greedy. so you will pick some pips.



TREND IS A MYTH

Price can be up for the hour, down for the day, up for the week, down for the month, up for the quarter and down for the year. What is the trend?

TRADING IS SIMPLE, DO NOT BE FOOLED.

Reply With Quote
 
(login for full post details)
  #11 (permalink)
Neubrandenburg, Germany
 
Experience: Advanced
Platform: R
Trading: Stocks
 
wh's Avatar
 
Posts: 538 since Jun 2009
Thanks: 298 given, 503 received


Quoting 
Price can be up for the hour, down for the day, up for the week, down for the month, up for the quarter and down for the year. What is the trend?

hour
day
week
month
quarter
year

Thanks for the clarification. I can see well enough trends in Downs, Ups and Sideways.

So I did, you do not see. You see only ups and downs.

Started this thread Reply With Quote


futures io Trading Community Psychology and Money Management > Simple Trading Plan


Last Updated on September 6, 2009


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
 

Finding Trading Opportunities Using Profile Charts w/Tradovate

Jan 28
 

Journal Challenge!

February
 

Battlestations!

March
     



Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts