Trade Bitcoin Trading

Bitcoin Plan Sample

The bitcoin plan is the logical approach to bitcoin trading which controls all aspects of the trading.

If you trade bitcoin, you need a bitcoin plan template if you want to become a consistent winner and to be able to make bitcoin trading decisions fast and accurately.

Each bitcoin plan template will have its own bitcoin rules that have been set sets describing entry and exit signals. The bitcoin rules set for each bitcoin system are converted into simple to follow instructions or a bitcoin checklist template that the trader can easily follow.

This bitcoin checklist template will direct the whole trading process of trading - controlling the timing of the trade entries & exits ( bitcoin system), the value of the opened cryptocurrency trades in relation to the bitcoin account equity balance ( bitcoin money management system) and the emotional state of the trader (emotion management system). Resultant trade details should be recorded in the journal bitcoin trading log and later studied for the ideas on how to improve each of the bitcoin systems.

Trading is often compared to a business. If bitcoin trading is business then the bitcoin plan is your business plan which should be formulated before you begin trading with the real money. Better you prepare this bitcoin plan - bitcoin checklist template, the more success you can expect to achieve in real cryptocurrency trading.

Bitcoin Plan Template

To write a good bitcoin plan, you will need a good bitcoin plan template that as a trader you can use to create your own bitcoin plan. But before you download the bitcoin plan, here is an explanation of the various bitcoin plan bitcoin checklist sections that your bitcoin plan requires to have.

JUSTIFICATION

This part of your bitcoin plan will write why you require a bitcoin plan, one of the reason is that bitcoin trading is a business.

Bitcoin TRADING SYSTEM

This is the bitcoin plan part where you include your cryptocurrency system. In this section you will write the bitcoin indicators to trade with, then you will write the bitcoin system rules that you will generate the bitcoin signals with.

For more tutorials about bitcoin systems

BTCUSD Crypto Trade Systems

How to design Bitcoin Systems Trading Strategies

How to Write Bitcoin System Rules

Generating Signals

Tips for BTCUSD Crypto Systems Trading Strategies

BTCUSD Crypto Trade Journals.

TIMEFRAME

This is where you specify which is the main chart timeframe that you'll be trading with.

TRADE ROUTINE

This is the part as a trader that you've to specify the time when you will be trading the btcusd market and when you generate cryptocurrency signals and how these bitcoin signals should be generated. For examples:

  1. Signals are generated using 1H bitcoin chart timeframe.
  2. Signals to be executed immediately rules are met.
  3. Entry trading signals should be executed during daytime.

TIME OF THE DAY TO WATCH THE MARKET

Watch market during daytime & trade only during the best bitcoin hours

MONEY MANAGEMENT

This is the part where as a trader you will specify the bitcoin money management guidelines that you'll follow, for examples:

  • Day trading -Low risk High return technique
  • Trade when I have a high risk reward ratio 3:1 or more
  • Stop loss = Parabolic SAR
  • Set TP target 100 Bitcoin Pips
  • Never trade beyond 3 % of bitcoin account balance
  • Never risk more than 2% on one bitcoin trade

To learn & know more about bitcoin money management

MINDSET/PSYCHOLOGY

This is the part you specify about your bitcoin psychology rules

  • Trade without Trading Emotions (greed, fear, anticipation, impulse, bias, overexcitement)
  • I trade what I see not what I feel.
  • I'll be patient.

My job description is not to be the bitcoin system!

It isn't to decide which trades looks promising & which one doesn't.

Bitcoin Psychology Rules & Guides:

WEAKNESS

By writing down your weaknesses you'll begin recognizing them as you trade, once you do this you'll begin to avoid this mistakes & your trading will improve.

For Example

  1. I am greedy.
  2. I overtrade
  3. Make a list of all your weaknesses which are interfering with your trading. This is the first step to help you to overcome the weaknesses. Use psychology to help you overcome them.

GOALS

Write the goals that you want to achieve with your bitcoin plan

·To focus on exit just as much as I do on entry.

·Always protect my trading account using stoploss order, bitcoin crypto currency money management techniques, trading with the bitcoin trend & always following the rules of my bitcoin system & plan.

·Never second guess or go against my cryptocurrency system.

FOLLOW THIS SYSTEM

This is the most important part of creating the system.

·Always follow the rules

·Stick with the rules

·Be disciplined and patient enough

JOURNAL

Log all my trades in a journal so as to track my progress. Write your Bitcoin Trades on a bitcoin journal to track progress of your trading.

How to Write a Bitcoin Trade Journal

Get More Lessons & Tutorials:

Forex Seminar Gala

Forex Seminar

Bitcoin Broker