Welcome To Simple Forex Trader

Trading Plan (Supply and Demand Strategy)

By: Simple Forex Trader

www.simpleforextrader.com

TABLE OF CONTENTS:

1. General Trading Rules
2. Risk Management
3. Supply and Demand Price Action Trading Rules
4. My Core Beliefs
5. Trading Cheat sheet

1.0 General Trading Rules

• Build a psychology for success (The mind of a trader)
• Create and follow your trading rules
• Track and review all trades in detail ( Entry, Exit, Time, ETC.)
• Do not chase a trade, winning traders know when to wait
• Every trade will have an Entry, Stop Loss, and Exit (plan) before you enter
• Every trade will have a pre-defined risk level
• Do not take a trade unless it adheres to the trade plan rules
• Only trade during pre-defined hour(s)

Always remember your WHY?

2.0 Risk Management

Risk and money management should be the forefront of any trading plan. 
Being a long term, consistent, and professional trader comes down to 
managing risk in every trade to preserve capital in the long term. 
We are here to play the numbers. 

For us to “trade like a casino” 
We must have enough capital to execute the large number of trades required 
to allow for our edge to play out and make profits. 

You can’t play the game with no money! Below is an illustration that shows 
why risk management is so important. As the losses of your initial capital 
increase the % amount of your remaining capital that you need to gain to 
recover that loss increases as well. 

Therefore we trade with low % risk and 
have cut off amounts to stop the bleeding of daily and weekly losses!!

Therefore the following risk management rules will be adhered to 
 AT ALL TIMES;

• 1-2% risk per trade
• Lot size will be calculated to 5-10 pips below or above the zone
  depending on the rejection 
• Will have daily and weekly loss limits
• Profit management; Take profit rules will be followed
  
  
  

3.0 Supply and Demand Price Action Trading Rules

Time of Trade: 0500-0800 (London Session)
Trades per Day: 3 Max
Break after each trade: 15-30 mins
Pairs: GBP/USD, EUR/USD, EUR/JPY, GBP/AUD, USD/CAD, AUD/USD

Goal: 20-30 PIPs / day (4-6% a day, 15-20% a week) 
(SMART Goal) Specific, Measurable, Attainable, Relevant, and Time-bound 
‘I want to be a top professional, consistently profitable, and making $500,000
as full-time trader within the next 18 Months.’

News Check: Forex Factory, Bloomberg, Trump’s twitter
Pre-Market: Chart the Night before, quick check of charts 30 min prior
to London open. While charting the night before, listen to motivational videos
and review my vision board.

Chart Setup:

1. D1, Find fresh Supply and Demand and overall trend, line it out if makes sense
2. H4, Find fresh Supply and Demand Levels
3. Determine near Res/Sup in H4-H1

Entry is on the H1, can use M30 but can not enter off 1 candle, 
must be 2 or 3 candle patterns, also must be in the 4H Zone. 

Trade Setup :

1. SL = 5-10 Pips Above or Below zone ( no more than 20 PIPs )
1. 5 Pips if shallow touch ( didn’t break through resistance at all)
2. 10 Pips if deep touch (wicked through resistance)
2. TP = 1:2 RR in Pips based off stop 
   ( Close If see Reversal pattern in LTF )
3. Lot = 1% based on stop, calculate position size on baby pips
4. Ask “Who’s trade am I taking the other side of?” 
   Am I with or against the banks.
   Entries Strategies
   Most Powerful levels
   
   
   
   
   
   
   
   
   
   

 
4.0 My Core Trading Beliefs

I am disciplined and consistently profitable trader.

I will adhere to my plan and only take trades that hit my plan, 
that I have Identified and am waiting to fall in to place.

My strategy is the best for me, I trade with the banks not against them.

I know that with proper risk management over a long course of trades
my edge will pay me profits.

I have no emotion to a win or a loss. A good trade can still lose.

I don’t trade for money. I trade for the risk to reward in PIPs.

I will never know everything. I will continue to learn and read and 
grow my mind in the trading and financial markets.

5.0 My Trading Cheat Sheet

Things to check every day before the session:

• Red folder news (filter) and bank holidays at www.forexfactory.com
• Are you in any trades currently? How does this impact your session?
• How is my mental state? Re - affirm my beliefs.

Trade Rules:

• There is no news coming
• Risk calculated off SL position, 2x 1% positions entered.
• Take Profit target is 2:1
• At 2:1 level I will close one position (1%) and move the second to BE + spread.
• Only trade retouch on a 4HR zone.
• Will enter using 1H Candle, of 2-3 M30 candles if a price action
  pattern presents itself.
• Only take trades that meet trade rules.
• Only entering a Strong or low risk zone.
• Only entering on the 1st or second return to the zone, never a third.

Signing off;

I am a Simple Forex Trader. May Your Trades Be With You!!