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A Forex Trading Plan
A Forex Trading Plan
A Forex Trading Plan
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A Forex Trading Plan

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About this ebook

A trading plan is a business plan. When you start a business, you write a business plan. When you become a professional trader, you write a trading plan. This is a full-fledged trading plan, at 40 pages so far. This is like a pamphlet chock full of information. You will learn by reading it. This trading plan will likely save you dozens of hours by giving you a fully-fleshed-out trading plan.

You could call this a “sample trading plan” or an “example trading plan,” but this trading plan is NOT:
- a bare-bones template
- a “how-to” article telling you how to write a trading plan
- an article expounding on the virtues of having a trading plan.

This trading plan encompasses the detail you must think about before you will become a successful trader. Although you will probably not trade the same way I do, and you cannot expect to use this trading plan exactly as written, you will gain benefit from reading it. You will likely borrow the parts you need, and you can consider alternatives for what you don’t need. This trading plan gives you a starting point. You will see sections on psychology, disaster recovery, tax status, and I will even tell you which broker I chose. While you still have to do the work, you don’t have to re-invent the wheel.

There is a theory that suggests it takes 10,000 hours of deliberate study to master any topic. I think there is something to that. I’ve been studying trading for just over two years. I’ve read a dozen or more books and many, many articles. I’ve also written object oriented code, with unit tests, which includes entries, exits, and money management techniques. (My code is not for sale.)

Disclaimer
--------------------
- Having a trading plan is no guarantee that you will make money in the markets.
- This trading plan is a “work in progress.” Areas that need addressing are underlined. Unfortunately, there are no free updates.
- There is no money-back guarantee.
- This trading plan does not give the actual nuts and bolts of my strategies. These details reside within programming code and are not included with this trading plan.

LanguageEnglish
PublisherAnthony Garot
Release dateAug 8, 2017
ISBN9781370142422
A Forex Trading Plan
Author

Anthony Garot

Anthony has always been fond of the written word. He is a self-proclaimed “reader,” who enjoys a variety of genres including philosophy, psychology, motivation, inspiration, trading, leadership, and religion.His first book was a kids book! The characters are fun and simple for kids, but also have full, rich personalities to appeal to the "kid" inside every adult.His first departure from kids books was “A ForEx Trading Plan,” which combines years of market study into a trading plan for foreign exchange trading.In his spare free time, Anthony speculates currencies, shoots photos, reads, does push-ups, and drinks coffee.Anthony currently lives in Phoenix, AZ.

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    Book preview

    A Forex Trading Plan - Anthony Garot

    A ForEx Trading Plan

    by Anthony J. Garot

    Revised edition

    v1.10

    A ForEx Trading Plan

    Copyright © 2018 by Anthony J. Garot

    Cover Copyright © 2017

    Smashwords Edition

    Revised Edition 1.10

    EPUB ISBN 9781370142422

    No part of this book may be used or reproduced in any manner without the prior written permission of the author, except in the case of brief quotations embodied in reviews.

    This ebook is licensed for your personal use only. This ebook may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each recipient. If you’re reading this book and did not purchase it, or it was not purchased for your sole use, then please purchase your own copy.

    Thank you for respecting the work of this author.

    www.garot.com

    Preface to the Revised Edition

    Welcome to the Revised Edition of A ForEx Trading Plan.

    I released the original edition during August of 2017. Since then, I have learned much, and I felt it was time to refresh this trading plan with new knowledge that I have gleaned over that time.

    I think the biggest improvement I have made in my trading was to join a forum and become a regular reader and poster. I highly recommend this. In that time, I have released several free indicators, and I have answered hundreds of forum questions. I felt it was appropriate for me to give back to the community that has given me much.

    Since I always hate long prefaces in books, I will keep this one to less than one page.

    Anthony Garot,

    http://www.garot.com/Trading

    Copyright

    This trading plan is copyright © 2017-2018 Anthony J. Garot.

    All quotations are credited. If you find any to the contrary, do let me know.

    In no way shape or form may you sell or give away this or derivative works.

    Bootleg Copies

    If you received a bootleg copy of this, and you find it useful (and maybe guilt is gnawing at you), please buy the book. Or give me a donation.

    http://www.garot.com/support/

    Table of Contents

    Preface to the Revised Edition

    Copyright

    Bootleg Copies

    Executive Summary

    Competition and Industry Overview

    Definitions

    Go-Live Date – How To Begin

    About this trading plan (WHAT)

    What This Plan Is NOT

    Business Description

    Operations

    Psychology – Self Knowledge – What sort of trader am I?

    Trading Plan Strategy

    Disaster Recovery Plan (DRP)

    Reporting – Retrospectives – Rituals

    About The Author

    Executive Summary

    The mission of the business is to make trading my career path. I will become a professional trader from the definition of professional means for money. Trading will become my main source of income.

    Specifically:

    I am planning to place high probability trades in the ForEx market through automated algorithms for the purpose of capital growth. This will be my prime method of earning a living.

    As a business, this is a serious endeavor, and it is not done for enjoyment nor amusement. I'm in this (trading) for the long haul, so switching platforms, switching brokers, enduring sacrifices, even moving out of country is a possibility for me.

    My trading objective is growth of capital through high probability trades with risk control. One metric of my goal is to make more money than I would with passive buy-and-hold investments or through index funds; but this metric is misleading since I believe on can lose money through buy-and-hold investments. My strategies will be income generating as opposed to geared toward investment.

    Trading will occur through automated processes, specifically Expert Advisors, written on the MT5 trading platform on a Windows PC computer. No mobile trading will be done.

    This trading plan will encompass a duration of approximately 3 to 5 years.

    The purpose of this business is not to change the world, not to create a new paradigm, but to simply pick up piles of money lying in corners (phrase of Jim Rogers) such that I will have financial security and the time and resources to apply to personal goals.

    At present, I will be the sole proprietor; there will be no other employees. I have no strategic alliances.

    Competition and Industry Overview

    This section doesn’t describe the business or operations. It was worth going through to get a better sense of the market, the history, etc.

    The ForEx market is the largest financial market in the world in terms of volume trading. The spot ForEx market is said to trade at over $1 trillion a day.

    ForEx is affected by political and economic factors that create volatility, which attracts speculative capital.

    Globally competitive

    The specific market in question is the Foreign Exchange

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