Trading plan for newer traders!
Account builder.
🧵(A THREAD) 🧵
Here is a simple trading strategy for traders who currently lack a plan. This strategy provides a proper thesis on how to make base hits and build your account!
Account builder.
🧵(A THREAD) 🧵
Here is a simple trading strategy for traders who currently lack a plan. This strategy provides a proper thesis on how to make base hits and build your account!
1. Scale into a position 1/4 at a time near a support level with a clear level to base risk off of. This will provide patience in planning and prevent trades taken with haste. Putting the ball in your court gives you the advantage in the trade, you control what you lose.
2. Identify a support level to base risk off. Do this by looking at time frames larger than the 1 min and placing horizontal trend line. I don’t stop out right on support, I have a SL in a small range below support. Never on the half and whole dollar psychs.
3. In regards to risk, I will size 10-15% of my account into a new position with a 5-10% max risk per trade. I do this to risk no more than 1-2% of my account.
4. Once you have found your ideal entry area, you must find where you will sell if price meets this target. This completes the the basis for a trade plan. Entry, Stop Loss, and Price Targets.
5. While this may seem like common sense, most traders fail to take these short and simple steps when taking a trade. They enter and exit a trade based off emotions. This is unorganized and chaotic. Now to continue:
6. Now that you have your plan, you can begin to scale in to your trade, scaling in 1/4 at a time will allow you to gauge if your plan is being validated without taking too much size all at once. Lump sum entries lead to averages being high and bagholding.
7. Now when we are in a trade, we must execute our trade as planned. This is how you will develop consistency and your own trading style. If price action moves in your favor, you must scale at planned PTs. Also, move your initial SL up along the way. Stress free, no loss.
8. If you exit your trade completely and price goes parabolic you should not chase and trade it. This will teach you what to refine on your plan and what to accommodate for. (Leaving shares for potential run) If you chased, the loss will be a lesson. The anomaly win will punish.
9. Making 5-20% on a trade is great and should not be taken for granted. These base hits are what will build your account and your overall consistency. Take what the market will give you, it’s a game of longevity. Those who keep their seat at the table will prosper.
10. Review your trades this weekend and see if you actually followed your plan. Maybe you didn’t even have one! See how you could have planned the trade and let me know how you will make improvements this next week! Have a great weekend everyone.
11. Here is an prime example on how to scale in and out on a trade! Study this! 
• • •
Missing some Tweet in this thread? You can try to
force a refresh
