All language subtitles for TraderFXBichin 2000 - 2

you remain on track so without
further ado dive into the next

psychology side and adding
these motivations in to help

trading plan okay we're
going to go each individual

mechanical processes like a
business plan. It is always

this chapter to learn more
about developing your own

topic we'll go a bit more in
depth on that and discuss risk

you're trying to get a new car.
Maybe you want long term

that you're actually here
trading because this is

processes, okay? So, this of
all of them is going to be the

management discuss technical
processes and then discuss the

optional. Uh and while the
trading plan is generally more

markets. If you put these
things down motivations. Maybe

going to really help you to
remain focused okay so those

extra boost of confidence you
need to actually hold your

discipline and stick to your
processes. So psychology while

actually be a little PDF
attached just a single page PDF

are all the trading plan
essentials so far there will

the learning curve and for
learning, not for withdrawing

one to focus on. Think about
all the other aspects, the risk

there are some optional aspects
as well that I do recommend

with all of these trading plan
essentials on for you to

actually adding in. We will
talk about these. Uh we want to

something to mark down and
something to keep in mind as a

talk about motivations right?
What you're actually aiming to

trading plan. Uh and they're
just going to give you that

the end of the day, the early
days of trading are going to be

achieve trading. What is your
reason for being inside the

going to be going through a
learning curve okay with this

business we are here to make
money when are you going to

beginner trader or fairly new
to the markets, this is

scenario. What limits and
guidelines are you going to put

for withdrawing profits okay at
the end of the day this is a

little bit. We will all have
these times. So we need to make

changing. We need these limits
in place to help us to cap

education hopefully this gives
you a huge booster but you will

you are going to struggle a
little bit, get in the grip of

and cap the times in the market
where things go against us a

sure we have limits in place to
minimize risk and the trading

withdraw money are you going to
withdraw it weekly monthly or

trading for the week when
you're down 5%? Will you cut

when you hit a certain
percentage gain now this is

capital? So when we have our
risk management protocols in

be going through a learning
curve and chances are not

processes the criteria for
entering trades And then we

you going to go for 5%? 7%,
10%, 15%. Or if you're trading

need to think about how we're
going to execute and manage our

is your capital overall? And
what are your goals with that

early days of your trading I
won't lie you are probably

we're always always adapting to
the market. The market's always

loss? Things like this are very
essential because as traders

trader and you're refining your
skills with what you've learned

off completely and rework your
strategy after a 10% or 15 20%

how will we ladder our stop
losses into profit as the trade

withdrawing profits a bit
sooner but if you are a

looking for? When will we move
stop losses into break even and

that we always come out of
every trade with the best case

plan is the perfect place to
put down these ideas. The final

money and then giving it back
to the markets right we want to

real trading plan essential is
going to be what are your plans

our goals we've got our goals
in place we want to make 5% 10%

we going to do that right we
want to mark down the technical

aversion to risk. Can you
handle a lot of risk? Are you

in place to minimise your risk
and cut off the chances of a

large downfall. Are you going
to stop trading for the day

after you lose one trade or two
trades? Are you going to stop

runs? How are we going to
minimize risk? And make sure

4% risk per trade, are you
going to go for 20percent?

consider now that we've spoken
about that dive further into

the trading plan more so than
your profit withdrawals. So

20% per month and we want to
maintain our capital so how are

place we want to think about
and write down in our trading

targets going to be? What's
your limits going to be? What

trades, right? What are the
entry confirmations we're

goal, right? But don't stress
over this too much because at

plan what technical processes
are we going to use to achieve

here, then, that's great.
You're probably going to be

happy to go ahead risking four
percent per trade to aim for

financial freedom. You can
visualise these things in your

good to include your
motivations and the reasons

Think about your risk tolerance
and think about your personal

follow these rules in order.
Find that amount that you

profits, not for making terms
of money for mastering the

want to risk portrayed and then
run it from there. What's your

everything, okay? If you are a
bit more of an experienced

target All of these things come
together as we've spoke about

going to be making a withdrawal
right away, okay? Chances are

make the money and then
withdraw it now towards the

or higher. We're not always
going to achieve that one to 2.

so far. All the risk management
aspects are going to tie in. So

management aspects and the
technical trading aspects of

recommend under one to two
because of course do want to

those higher targets? The more
aggressive approach going for

important to know so that you
don't end up making a load of

So what are you going to target
as a monthly profit number? Are

the one to fours, the one to
5s? Or are you going to be

profit trades that closes out
at less than one to two. But as

those times in the market where
we're going to have losses. Uh

a general basis, one to two is
my target and I never aim to

always stay on the right path
with that risk management and

to be? Are you going to go
aggressive and try and go for

than a one to two. So what's
your risk reward target going

try and aim for the best risk
reward that we can.

you're going to risk on every
single trade you take and that

is going to be one of the first
steps in actually devising the

There are going to be early
closure trades and stop loss in

modest with it and run for one
to twos, right? I never

20% per month? Or are you
better set with a smaller

take a trade with stop loss and
take profit parameters lower

risk management protocol
section of your personal

every trade you take?
Personally I aim for one to two

trading plan. What's your risk
reward target going to be on

management section of this
course. One of the most

same risk percentage per trade.
So determine how much capital

only risking $1, 000 per trade
as opposed to 4000 if you kept

important aspects of risk
management is maintaining that

percentages for limits for
targets for goals, we're

capital you're trading with to
actually visualize these and

you going to risk per trade? Of
course as we've mentioned we

next trading plan essential is
how much of your capital are

might want to lower the risk
possibly to 1% so that you're

that 4 percent risk. So, while
we are going to focus on

come up with what's going to
work best for us. Okay? So the

want to look at this in
percentage terms. But this is

trade rather than two to help
grow that account a bit faster.

bit higher, okay? You might
want to risk four percent per

how much capital you're trading
with. Because let's say you're

an important thing to mark down
as we spoke about in the risk

trading with 20, you know,
$200. Let's say you start with

actually going to use that
starting point of how much

amount. But it's still nice to
have a good starting point of

Whereas if you're trading with
$100, 000, chances are you

much your account is going to
be running with this gives you

$200. Your risk tolerance for
$200 is probably going to be a

around that set starting amount

much risk tolerance you're
going to have towards the

marking down when creating your
trading plan is how much

focusing on percentages rather
than the actual monetary

How we doing everyone? Welcome
back to the course. In this

So this video is just going to
outline the different essential

if you can mark down how much
you're trading with and how

topics that we need to include
in our trading plan to make

amount of capital that you're
trading. Now when it comes to

You can visualise targets and
you can visualize risk and how

it's a good place to begin so
that you can visualize goals.

capital you're going to be
trading with so everyone's

video we're going to be talking
about trading plan essentials.

goals, targets, things like
this. I always recommend

going to be trading with a
different amount of capital but

a start point to then build
targets and limits and goals

essentials and the first thing
that you really need to be

sure that we cover all bases.
The first of the trading plan

video. Thank you for watching
and I'll see you over there.