My First Forex Trading Plan

Hi, my name is Nathan Tucci, and I will be interning with Casey this summer. I am blogging on his website as I learn to trade. Each week I will post the trades that I have made and show how they have been profitable or losses. I hope you will follow along to see if someone like me who has never traded before can become a profitable trader in a short time. Click this link to watch my interview with Casey. You can also follow me on Twitter where I will be posting some of my trades there as well.

  • Goal of my trading plan: Make enough money trading to pay my college tuition.
  • Strategies:
    • Use the candlestick charts to locate large bullish or bearish bars.
    • Use the 20 point simple moving average to indicate whether a pair is prone to go up or down.
    • Look for large bearish or bullish indicating bars to signal a good trade.
    • Use a strength meter chart to show what the strength or weakness of each currency is over all.
  • Example:
    • I want to go long on large bullish indicators if it is below the 20 point average.
  • Rules:
    • Only take positions on the major currencies.
    • Set a stop on EVERY trade.
    • Set stop to lose no more than 25 dollars per trade.
    • Will not lose more than fifty dollars in one day.

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