Written Example XAUUSD Plan Template

Xauusd trading plan checklist - the following is a template example of a xauusd plan template example:

JUSTIFICATION

1. XAUUSD Trading IS A BUSINESS, SUCCESSFUL BUSINESSES ALWAYS HAVE PLANS

• Businesses that are successful always begin with a plan.
• Successful business planning will guide you to success, think of xauusd trade plan as a map: it is a constant reminder of how you'll consistently pull profits from the gold market.
• Difference between a successful trader & a losing xauusd one is the xauusd trade plan.

2. TO KEEP ME IN THE RIGHT DIRECTION when Trading Gold

Consistency is important in your routine to measure how successful you're.

Keep you on target, read the xauusd trade plan every day and stick to its rules.

When it comes to your plan you should think of it as a map that shows you this is what you follow, it should have clear rules which specify when you open or close a trade.

Your xauusd plan should cover all aspects of xauusd, you should read the xauusd plan every day until it is on your fingertips so that when you are transacting on the fast moving market of xauusd you will always know what to do in every situation.

Your xauusd plan can be as simple or as complicated as you like, but the most important thing is that you have one. By having a one you have an advantage over the xauusd market, you will have better odds of making a profit than those who do not have one.

This xauusd plan checklist tutorial topic provides with an example xauusd plan template which you can use for creating your own xauusd trade. By now you've already written down the justification part of your xauusd plan template, If not get a pen and paper and write the justification part. Next we shall look at how to write the system.

XAUUSD Trading plan is one of the secrets which can help you to improve your trading profits. A good xauusd training guide like this one should show you how to come up with one using a xauusd plan template which you can use as an example to develop your own xauusd trade plan.

One of the most common question is: Is XAUUSD Trading profitable? one of the techniques to make it profitable is to have a good plan.

IF YOU HAVE A GOOD XAUUSD Trading PLAN AND YOU ARE DISCIPLINED ENOUGH TO STICK TO IT When XAUUSD Trading, YOU WILL BE SUCCESSFUL.

GOALS OF THE TRADING SYSTEM

1. Ability to IDENTIFY TREND AS EARLY AS POSSIBLE .
2. Ability to AVOID WHIPSAWS .

The xauusd trade system should find a compromise between the 2 Goals,

Find a way to identify a xauusd trend as early as possible but also find ways to help you distinguish fake signals from the real ones.

FUNCTIONS OF EACH INDICATOR

MA - Identify a new xauusd trend as early as possible.

MACD - Identify a xauusd trend as early as possible.

Determine strength of a continuing trend.

RSI - Swing failure to confirm the begin of a new gold trend.

Extra confirmation tools to help determine the strength of our gold trend.

Parabolic SAR - Help to ensure that we are not caught up on the wrong side of the trend.

XAUUSD Trend Lines - Signals a reversal when the line is broken

XAUUSD Price Action Signals - confirm the weakening of a trend.

Bollinger Band - for gold trading price action study

To learn & know more about each indicator & how these technical indicators can be used to generate trading signal setups you can go to the Technical Gold Indicators Section

TRADING CHART TIME FRAMES

• Main timeframe is the 1H.
• Signals are generated on 15 minute time frame.

15 Min Charts

• XAUUSD Trend Lines (Support and Resistance)
• 5 & 7 LWMA
• RSI (14)
• Bollinger Bands (20, 2)

RULES

LONG ENTRY

Entry

15 Min Charts

1. Both MAs are moving UP
2. MACD Above Zero Center Line (Not MACD moving UP)
3. RSI >-> 50
4. Parabolic SAR is below the gold trading price ( Support )

When signal is generated on the 1 Hour XAUUSD Chart, use the 15 minute chart timeframe to open and close positions.

LONG EXIT

1. RSI gives opposite signal
2. XAUUSD Price breaks Support XAUUSD Trend Line
3. Parabolic SAR is hit (Trailing Stop)

RULES

SHORT ENTRY

Entry

15 Min Charts

1. Both MAs are moving DOWN
2. MACD Below Zero Center Line (Not MACD moving Down)
3. RSI <-< 50
4. Parabolic SAR is above the gold trading price ( Support )

When trading signal is generated on 1 H Chart, use the 15 min chart timeframe to open & close trade positions.

SHORT EXIT

1. RSI gives opposite signal
2. XAUUSD Price action breaks Support XAUUSD Trend Line
3. Parabolic SAR is hit (Trailing Stop)

ROUTINE

1. Signals are generated using 1H xauusd chart timeframe and executed using the 15 minute chart time frame.
2. Trading trading signal to be executed immediately trading rules are met.
3. Entry alert signals should be executed during daytime.

TIME OF DAY TO WATCH MARKET - MARKET HOURS

Watch market during daytime when most companies & online xauusd brokers are open for trade transactions. Use this to create a suitable program.

Example Trading Plan Template

Tips - You can use the MT4 XAUUSD Software Platform to save this as a xauusd template that way you do not have to lay it afresh every time you open a new xauusd chart. If you want to learn how to save a xauusd plan template on the MetaTrader 4 platform, read: MT4 XAUUSD Platform Tutorials.

Gold Money Management

• Day trading - Low risk High return method
• Trade when I have a high risk to reward ratio 3:1 or more
• Stop loss = Parabolic SAR

• Set TP target 40-60 XAUUSD Pips
• Never transact beyond Three % of account equity
• Never risk more than 2% on a single xauusd trade transaction

XAUUSD MINDSET/PSYCHOLOGY

• Trade without Emotions (greed, fear, impulse, bias, anticipation, overexcitement)
• I trade what my eyes see not what I feel.
• I will be patient.

My job is not to be the xauusd system!

It is not to decide which signal looks promising.

That is the job of my xauusd system - which has a set of xauusd rules which tells me this is what I follow. Do not get caught up in gold price action and make rules as you go along.

MY JOB DESCRIPTION IS

To sit patiently & wait for my xauusd strategy to indicate that it is time to enter or it is time to exit. And then with great focus I execute xauusd plan as outlined.

Taking trades not indicated by the xauusd system, second guessing it and not taking signals given, hesitating and getting in late, anticipating and getting in early are all common place & boil down to lack of faith in plan & not having a burning focus on accurate execution.

GOAL: To have 100% undivided focus on mastering my ability to execute my XAUUSD Trading rules accurately.

The more you develop the ability to step back from gold trading price movement & watch the xauusd market dispassionately, waiting for a xauusd signal, the easier it will be to witness the fluctuations of your emotions without getting sucked into them allowing them to throw you off your game.

WEAKNESS

1. I am greedy.
2. I over-trade
3. Make a list of all your weaknesses which are interfering with your trading. This is the first step to help you overcome these weaknesses. Use XAUUSD Trading psychology to help you overcome them.

Note: by writing down your weaknesses you will start recognizing them as you make progress, once you do this you will start to avoid this mistakes and your results will improve.

GOALS

• To focus on exit just as much as I do on entry signals.
• Always protect my account using stop loss, xauusd money management methods, follow with the xauusd trend direction and always following the trading rules of my gold trading strategy.
• Never second guess or go against my strategy. To always keep up my discipline.
• Follow all the rules of my xauusd strategy & never break them.
• Transact fewer times & execute all my signals correctly. Trade what I see, what the system + xauusd charts are telling me.
• Sit patiently & wait for signals from my strategy.
• Achieve consistent xauusd results before opening a live gold account.

FOLLOW THIS XAUUSD Trading SYSTEM

This is the most important part of creating the xauusd system.

Always follow the trading rules

Stick with the trading rules

Be disciplined & patient enough

XAUUSD JOURNAL

Log all my trade transactions in a xauusd journal so as to track my training progress and improve my xauusd execution trading methods.

This xauusd strategy uses momentum to determine the xauusd trend of any xauusd.

Even if you are new to xauusd market and you don't know how a xauusd system looks like, this xauusd system template example illustrates to you how a xauusd strategy should look like, the XAUUSD Trading tutorials described in other sections of this training web site will also explain further different aspects that you need to learn.

Hence, the aim is to help you come up with your own complete xauusd strategy that is if you are looking for one, by showing you one that is already complete. In fact you can just use it as it is, or make a few adjustments so that it suits your xauusd style.

Aim is to help you improve your xauusd results by using a xauusd plan, and another advantage is that this xauusd trade plan will offer you a chance to improve your knowledge and it will help you improve your xauusd results and help you make pips when xauusd and keep them so that you do not keep giving them back to the gold market.

Read this xauusd plan training tutorial about developing a xauusd trade plan of your own, along with learn xauusd courses and xauusd trading strategies listed at top of this learn xauusd guide website.

The Most Beneficial part of using this xauusd plan template is the "Gold Money Management Part" you will learn how to trade gold trading & minimize risk, which is the most important thing when it comes to trading the gold market.

XAUUSD Plan Checklist - How to Develop a Trading Plan in XAUUSD Trading - XAUUSD Plan Example - XAUUSD Plan Doc