{"id":3296,"date":"2016-07-28T17:25:17","date_gmt":"2016-07-28T17:25:17","guid":{"rendered":"http:\/\/www.forexearlywarning.com\/blog\/?p=3296"},"modified":"2020-09-10T19:38:32","modified_gmt":"2020-09-10T19:38:32","slug":"sample-forex-trading-plan","status":"publish","type":"post","link":"https:\/\/www.forexearlywarning.com\/blog\/2016\/07\/28\/sample-forex-trading-plan\/","title":{"rendered":"Sample Forex Trading Plan For One Group Of Pairs"},"content":{"rendered":"

In this video we will use one group of currency pairs to show traders how to build a sample forex trading plan for any pair in that group.\u00a0These principles for building a trading plan work for any group of pairs with one common currency. Our example will be for the Japanese Yen (JPY) pairs. To prepare a trading plan for the JPY pairs you would drill down the charts using multiple time frame analysis<\/em><\/a><\/strong>.\u00a0 The AUD\/JPY NZD\/JPY, CAD\/JPY, EUR\/JPY, etc., all 7 JPY pairs total.\u00a0In this example the long term trends on the higher time frames are all pointing down, and the H4 and D1 time frames are reversing\u00a0back down into the trend, so the charts show that JPY is strong and that the JPY pairs are dropping.\u00a0Our trading plans for this day reflect the JPY strength.<\/p>\n

We prepare written trading plans<\/strong><\/em><\/a> for various JPY pairs along with the price alert points for traders to set audible price alerts to detect the movement to the downside. When the price alerts start to hit in the Asian session the JPY pairs are in an obvious sell off and our currency alert system also shows the sell off. This is a very safe way to trade the forex and this method works for all 8 groups of currency pairs we trade, i.e., USD pairs, CHF pairs, NZD pairs, etc., for a total of 28 pairs. Use the techniques in this video to prepare a sample forex trading plan for any group of pairs until you get more practice.<\/p>\n