11/19 Trades

61025668	EUR/USD	1,000	11/19/13 9:44 PM		1.35596						Mkt	Lost trade put stop too close. Didn't use checklist
			11/20/13 11:24 AM	1.34532		-10.64	0.00	0.00	0.00	-10.64	SE
61026149	EUR/CAD	1,000	11/19/13 10:07 PM		1.41920						Mkt
			11/20/13 11:23 AM	1.40560		-13.02	0.00	0.00	0.00	-13.02	SE	Lost trade put stop too close. Didn't use checklist
Total:						-23.66	0.00	0.00	0.00	-23.66
Posted at statement period of time:						-23.66	0.00	0.00	0.00

Trade Plan

Joshua’s Trading Plan:

² Why am I trading:

I am creating a business for myself and my family. I am creating supplemental income that will eventually become a full time income.

² What is my Approach?

I will trade with the trend using TWP approach, using leading indicators, and price action.

² What are my Goals?

* Monthly -  %25 growth every month

* Yearly -

* Long Term -

² What are my Objectives?

² What Markets will I trade? I will trade all major currency pairs, and some minor pairs. I will also add futures in month 3.

² What Time frames will I trade?

I will trade the daily time frame and test some other intraday strategies.

² What Setups will I trade?

            I will use TWP, leading indicators: EMA, Pivot Points, RSI and support and resistance

² Entry rules:

I will enter a trade when a clear trend is present( 20 or 55 days) and on the correct side of EMA. RSI must be pointing in the direction of the trend, it must be in the right side of the pivot. I will analyze where support and resistance is and enter when price action gives me confirmation (doji followed by a solid bar).

² Where will I place my Stops?

Stops will be place on the high or low of a close daily candle.

² Exit take profit (and/or) trail-stop rules:

            I will exit a trade if the direction of the trade reverses for 10 days. Hit major resistance and reverses or gives price action confirmation of a reversal.

² Risk Management rules:

            I will only risk 2% of my account balance on any 1 trade. And %10 total at any one time.

² Pre-market activities or routine:

I will check 3-4 trade recommendations from partners and write down the ones I like.

I will scan the daily charts looking for obvious trends.

 I will then look at the weekly and monthly charts to confirm the direction of the trend.

I will then use my checklist to confirm possible trades then wait until price triggers my entry.

² Post-market activities or routine:

            After I place my order I will log my trade with pictures and review my trades each week.

² What Tools will I use for my trading business?

            Partners, trade checklist, trade journal, trade station.

² Review process:

                Review and update my process each week.

² Continuing Education:

² Discipline & Mindset notes:

            I will not trade with emotion. I will stay focused and cut losing trades quickly

² My Golden Rules (and/or) Trading Commandments:

                I will always trade with the trend. I will never add to a losing trade.

This is a living document. It may change as my experience increases, my knowledge of

the markets increase, (and/or) as the market(s) I trade change and evolve.