| StockFetcher Forums · General Discussion · T-3 Fibs ProTrader Trading Plan and Objectives | << >>Post Follow-up |
| TheRumpledOne 6,411 posts msg #49464 - Ignore TheRumpledOne |
1/22/2007 6:34:21 PM Found this on the net.. a trader was asking if I had coded the T3. With some changes, you may find this of some use: http://www.nss-t3.com/resources/T-3%20Fibs%20ProTrader%20User%20Guide.htm T-3 Fibs ProTrader Trading Plan and Objectives The initial goal of any trader is to make money. A simple concept but wanting to make money in and of itself is not enough to get you to your end result. You must plan. Plan for the good and the bad and if you set goals you will have an easier time to reach them. What we would like for you to do is to fill out each of these “ goals” to the best of your ability and then end result will be a SIMPLE well laid out plan of attack on the market. Once you have this sheet complete you will have an accurate picture of yourself, your expectations, and will have a solid plan for success that you can follow. Also please share this sheet with your salesperson so that we can better assist you in reaching your goals. ANNUAL goals – this year I would like to make $_____________________________. To make my annual goal I will be entering the market with $_____________________. This will be a % _____________ gain on my account. ($ made / $ started with). The last year I made this much money was? ________________________ ( year ). I believe this goal is realistic and achievable? SIGN YOUR NAME _________________. This will come back to haunt you if you are not correct. To achieve this goal I will need to make % monthly ( annual % gain / 12)_____________ This will make monthly dollar amount $ _______________ ( $ annual /12) ___________ My weekly goal must be $ ____________________ Weekly % ____________________ My daily goal must be $_______________________ NOW THAT YOUR GOALS ARE SET answer the following….. I AM WILLING TO LOSE $______________________ TO REACH MY GOALS. Sign your name here to this again ____________________________________________ NOW FOR SOMETHING MOST PEOPLE DON’T EVER DO>>>>>>>>>>>>>>>>> The market I will be trading is ______________________________________________ The average daily range over last yr. Is _______________________________________ Number of contracts/ shares I will trade is ____________________________________ To reach my daily goal trading the number of contracts I can trade I must take out what % of the daily range in order to reach my goal. __________________________. Is this realistic? YES OR NO ______________________________________ Do I need to take a trade every day to reach my goal? ___________________________ Do I have at least 3-4 times the required capital to trade my markets? _______________ If I lose my maximum amount will it change the way I live? ______________________ RISK MANAGEMENT- Let’s face it…we won’t win all the time so rules in place to keep us from doing more harm than good and calling it a day when things are not going right for you. I will be willing to lose this much money on a daily basis before I quit trading$____________________________. ( usually 2-3 times daily goal is max, if you lose more than that then you will have a hard time to recover. Not as important for swing / position traders) mostly day traders. Is there a point at which I will stop trading on the winning side? $__________________ How much of my account am I willing to lose before I quit altogether? Although we don’t like to face this question it is important. $_________________________ With these dollar goals in place how long can you lose before you reach your max loss and have to quit trading? ( MAX LOSING DAY * MAX LOSS )$____________ Have you given yourself enough room for mistakes and learning to continue trading? ________________________________ If not, should you make adjustments to your goals ? ____________________________ Should you make adjustments to the # of contracts/ shares that you are trading? ______________________ IF SO THEN START OVER!!!!!! Return to top of page T-3 Fibs ProTrader Daily Planner Date: ___________________ Market: _________________ Key Economic reports due out today: _____________________ Time _____________ Market mover? ________________ _____________________ Time _____________ Market mover? ________________ _____________________ Time _____________ Market mover? ________________ _____________________ Time _____________ Market mover? ________________ What is the market’s trend for: (up or down) Last day ________________________ Last two days ____________________ Last week _______________________ Last month ______________________ Last 3 months ____________________ KEY SUPPORT AREAS: Support #1 ___________________________ rate this support strength _____________ Support#2 ____________________________rate this support strength _____________ Support #3 ___________________________ rate this support strength _____________ Support#4____________________________rate this support strength _____________ Support#5 ____________________________rate this support strength _____________ KEY RESISTANCE AREAS: Resistance #1 ________________________ rate this resistance strength ____________ Resistance #2 ________________________ rate this resistance strength ____________ Resistance #3 ________________________ rate this resistance strength ____________ Resistance #4 ________________________ rate this resistance strength ____________ Resistance #5 ________________________ rate this resistance strength ____________ MY PLAN OF ACTION INCLUDES: The overall market trend is ___________________________ and I expect the market to open at (price) ______________________ If this happens, I am looking for my first (B/S)___________ opportunity at (price) ______________________ once I get confirmation. My risk on this trade will be __________________ . If the market goes in the correct direction I will look to take my initial profits off at __________________. If The market breaks this area I will look for it to go to (price) _________________. Upon breaking this area I will look for an opportunity to get into the trend by placing an order around ___________________ or wait for confirmation of the continuation of the move. I will then look to take that trade to my next level which will be (price) ______________. Return to top of page T-3 Fibs ProTrader Entry Trade Planner Date: ___________________ Market: _________________ KEY SUPPORT AREAS: Support #1 ________________Support#2 _____________Support #3 _______________ Support#4_________________Support#5 _____________ KEY RESISTANCE AREAS: Resistance #1 ___________Resistance #2 __________Resistance #3 ________________ Resistance #4 ___________Resistance #5 TRADING CHECKLIST Trade #1 I want to BUY OR SELL ________________ Larger timeframe confluence zone __________________ Smaller timeframe confluence zone ______________DOES THIS MATCH? Y/N _____ T-3 Turbo Slow Sto on smaller time frames overbought or oversold ________________ T-3 Turbo Slow Sto on LARGER time frames OB/ OS ___________________________ T-3 Trigger broken? ____________ On both smaller time frames? _________________ I will use an AGGRESSIVE entry? _____________ Retracement entry ______________ INITIAL STOP _________________________________ INITIAL PROFIT OBJECTIVE ____________________ FINAL EXIT PRICE ON MULTIPLE CONFLUENCE __________________________ After trade information Winner or Loser? __________________ How much did I make / Lose?______________ How exited the trade Y/N Trailing _____ Stop loss ______ Profit______Stoch.________ What did you do correct? ___________________________________________________ What did you do wrong? ___________________________________________________ Any changes you would make? ______________________________________________ Trade #2 I want to BUY OR SELL ________________ Larger timeframe confluence zone __________________ Smaller timeframe confluence zone ______________DOES THIS MATCH? Y/N _____ T-3 Turbo Slow Sto on smaller time frames overbought or oversold ________________ T-3 Turbo Slow Sto on LARGER time frames OB/ OS ___________________________ T-3 Trigger broken? ____________ On both smaller time frames? _________________ I will use an AGGRESSIVE entry? _____________ Retracement entry ______________ INITIAL STOP _________________________________ INITIAL PROFIT OBJECTIVE ____________________ FINAL EXIT PRICE ON MULTIPLE CONFLUENCE __________________________ After trade information Winner or Loser? __________________ How much did I make / Lose?______________ How exited the trade Y/N Trailing _____ Stop loss ______ Profit______Stoch.________ What did you do correct? ___________________________________________________ What did you do wrong? ___________________________________________________ Any changes you would make? ______________________________________________ Trade #3 I want to BUY OR SELL ________________ Larger timeframe confluence zone __________________ Smaller timeframe confluence zone ______________DOES THIS MATCH? Y/N _____ T-3 Turbo Slow Sto on smaller time frames overbought or oversold ________________ T-3 Turbo Slow Sto on LARGER time frames OB/ OS ___________________________ T-3 Trigger broken? ____________ On both smaller time frames? ________________ I will use an AGGRESSIVE entry? _____________ Retracement entry ______________ INITIAL STOP _________________________________ INITIAL PROFIT OBJECTIVE ____________________ FINAL EXIT PRICE ON MULTIPLE CONFLUENCE __________________________ After trade information Winner or Loser? __________________ How much did I make / Lose?______________ How exited the trade Y/N Trailing _____ Stop loss ______ Profit______Stoch.________ What did you do correct? ___________________________________________________ What did you do wrong? ___________________________________________________ Any changes you would make? ______________________________________________ Trade #4 I want to BUY OR SELL ________________ Larger timeframe confluence zone __________________ Smaller timeframe confluence zone ______________DOES THIS MATCH? Y/N _____ T-3 Turbo Slow Sto on smaller time frames overbought or oversold ________________ T-3 Turbo Slow Sto on LARGER time frames OB/ OS ___________________________ T-3 Trigger broken? ____________ On both smaller time frames? ________________ I will use an AGGRESSIVE entry? _____________ Retracement entry ______________ INITIAL STOP _________________________________ INITIAL PROFIT OBJECTIVE ____________________ FINAL EXIT PRICE ON MULTIPLE CONFLUENCE __________________________ After trade information Winner or Loser? __________________ How much did I make / Lose?______________ How exited the trade Y/N Trailing _____ Stop loss ______ Profit______Stoch.________ What did you do correct? ___________________________________________________ What did you do wrong? ___________________________________________________ Any changes you would make? ______________________________________________ |
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