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My Trading Plan, Rules and Learnings

September 21, 2019

Risk Management

The most important is risk management. It is the first and important part of the trading. Plan in advance that how I will manage my risk. I manage my risk by

  • Add stop loss with the buy/sell order.
  • Stick to the stop loss and don’t change when market going against you.
  • In case of options, think in advance, how will I hedge my position and when will I close my position.

Trading Plan

Trading based on Pivot Points

  • First check for the Market trend. If it is down trend then there are less changes to break resistance.
  • If market is in up trend, then there are less changes for break support. In most of the cases, market may bounce back from support.
  • Another factor to consider at Pivot point is RSI level. In case of over bought situation, market may go down after touching resistance.

Learning

  • In Bull Market never sell and in bear market never buy.
  • If you missed the trend then wait for next signal to enter.
  • Do not risk more than predefined price per day, per week and per month.
  • Your decision should not be influenced by external factor. Stick to your trading system.

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