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Simple Trading System Template

The document outlines a trading system named 'The Consistent Day-Trading System for Forex', detailing chart setup, general rules, entry and exit strategies. It specifies the markets to trade, time frames, indicators, and money management rules. The system emphasizes the importance of following personal trading rules and managing trades effectively to maximize profitability.

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irwan kilay
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44 views3 pages

Simple Trading System Template

The document outlines a trading system named 'The Consistent Day-Trading System for Forex', detailing chart setup, general rules, entry and exit strategies. It specifies the markets to trade, time frames, indicators, and money management rules. The system emphasizes the importance of following personal trading rules and managing trades effectively to maximize profitability.

Uploaded by

irwan kilay
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Name of Trading System: Select a name for your trading system

CHART SETUP

Identify the markets* to trade, the time zone The example which follows can be found in
being traded, the time frames to analyze, the Chapter 10 of the 10 Habits book. However, it
indicators on the chart, and the position size is just an example. Please think like an
to take based on your money management independent trader when designing your own
rules which is a function of the account size system.
and the size of the risk (stop loss).

*Markets: Forex, Stocks, ETFs, Options, CFD’s

GENERAL RULES

Create your own General Rules which will guide you in your trading. These are statements to
keep you centered and focused on finding high probability trade setups by following your rules.

Repeat these statements out loud before every trading session.

ENTRY RULES EXIT RULES

Write out the entry rules for BUY and SELL The Exit Strategy includes setting the Stop Loss
trades. and the Profit Targets.

In identifying the rules, you must be able to Trade Management is key here. Select an
answer the question, “When will you pull the approach to managing the trade and spell it
trigger?” out clearly.

www.fxtradersedge.com ©2008-2015 FX Trader’s EDGE TM All Rights Reserved


Name of Trading System:
CHART SETUP

GENERAL RULES

ENTRY RULES EXIT RULES

www.fxtradersedge.com ©2008-2015 FX Trader’s EDGE TM All Rights Reserved


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Name of Trading System: The Consistent Day-Trading System for Forex
CHART SETUP
Currency Pairs: any major pair
Time Zone: NY Market from 8am until 11am Oscillators:
Time Frames: - RSI 3 for buy and sell confirmations in a trend
- Daily for larger trend confirmation - Awesome Oscillator for Divergence
- 1-hour and 15-minute for trend - Pivot points, trend lines and Fibonacci for
confirmation support and resistance
- 5-minute for trade entry
Indicators: Lot Size: 2 lots
- 8, 21 and 55 EMAs on 15-minute, 1-hour,
and daily; 5 and 13 EMAs on 5-minute

GENERAL RULES
1. Read these trading rules before every trading session.
2. If you miss the trade, wait for pullback.
3. Plan the trade and trade the plan.
4. Trade with the trend. If the daily and general trends are up, look for buys unless: there is
divergence in the oscillator signaling the price action is running out of steam, the market has
just made a large move and needs to pause or retrace, or price is way above the moving
averages and needs to snap back.
5. Be happy taking profits and losses.
6. Risk no more than 1 or 2 percent on a trade.

ENTRY RULES EXIT RULES


BUY (opposite for a sell) Stop Loss
• Trades taken on the 5-minute chart in the • Set stop loss below the reversal candle
direction of the 1-hour and 15-minute trends (opposite for a sell)

• Wait for retracement to the 21 EMA on the 15- Profit Taking


minute chart • T/P as candle closes below 5 EMA on 1 lot

• Confirm with RSI 3 turning up • Use trailing stop 2-3 pips below previous
candle low
• Confirm with Fibonacci support
• Let lot 2 run until market takes you out
• Confirm with pivot point support
Optional Profit Taking
• Buy above the high of the reversal candle • T/P as candle closes below 5 EMA on 2 lots
and/or when the 5 crosses above the 13 EMA
on the 5-minute chart • Three Profiteers Trade Management

www.fxtradersedge.com ©2008-2015 FX Trader’s EDGE TM All Rights Reserved


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