KICKSTART YOUR TRADING:

AN INTRODUCTORY PLAN
By Ewen Collier

Welcome to Kickstart Your Trading: An Introductory Plan." Here, you’ll access an

introductory overview of the steps you need to take for a successful career in
trading.

If you require support, assistance, or guidance, you can reach me in the WxCafé
Discord lounge. You can click the hyperlink or find the invitation in my Instagram
bio. Additionally, for an in-depth step-by-step blueprint showing exactly how to
become a successful trader, see my ultimate e-book. Otherwise, enjoy!

Before we discuss trading, I want to give you insight into the perks that only
being a successful full-time trader can provide. The pursuit of trading, especially
as a full-time career, is a long and difficult path to walk. There will be many
times that you feel like giving up. Anytime you feel this way, refer back to the
points below and remember why you started for inspiration and motivation to
keep you on the path. Here are the perks that only being a successful trader
can provide:

Flexibility
Independence
Unlimited earnings
Personal growth
No commute
Entrepreneurial spirit
Time, location, and financial freedom

While this sounds like a dream, please note that the majority of traders fail to
achieve these milestones. Therefore, if you’re going to be one of the few who
succeed, you must be driven, ambitious, disciplined, willing to make sacrifices,
and consistently put in the work for a lifetime!

Now. On to trading.
Step 1: Preparation
Defining Your ‘Why’

Trading is a lifelong journey, and it’s not for the faint-hearted. Your 'why' will be
the driving force that keeps you going and helps you stay motivated when
things get tough. Your 'why' keeps you focused and oriented. By staying
connected with your values, you stay focused on what's important. With a
strong ‘why,’ any ‘what’ and how’ become possible

Risk Tolerance and Capital Allocation

Assessing how much risk you are comfortable taking on helps determine the
types of assets you'll trade and the strategies you'll employ. Your risk tolerance
should align with your financial situation, experience level, time commitment,
personality, lifestyle, and emotional resilience.

Capital allocation is another critical aspect of goal definition. How much of your
overall capital are you willing to allocate to trading? Striking the right balance
ensures that you have enough resources to withstand inevitable market
fluctuations while still allowing for potential growth.

Step 2: Trading Fundamentals

Trading Style

Trading comes in various forms, each with its own set of characteristics,
commitments, and time horizons. Understanding these different types allows
you to tailor your approach to match your goals and lifestyle. Choose one of the
following strategies:

Scalp trading
Intraday trading
 Swing trading
Position trading

Financial Markets

Once you’ve determined which style of trading may be best suited to you, you
then need to discover which market is appropriate for you. Here are the most
popular options:

Stock market
Forex market (foreign exchange)
Cryptocurrency market
Commodities market

Step 3: Getting Educated

Once you've explored trading styles and financial markets, it’s crucial to
develop a strong educational foundation. The rapidly changing nature of
trading and financial markets requires continuous learning, adaptation,
resilience, and a strong willingness to win.

At this stage, you should explore various avenues for educating yourself to
ensure you are well-equipped for the challenges and opportunities that lie
ahead, not just in trading, but also in your mind. You can learn through the forms
of YouTube, books, podcasts, trading influencers, and more.

There are multiple posts on my Instagram feed where I reveal my favorite

trading educators, so please go back and find them if you need extra guidance.
Additionally, I provide all of my favorite YouTubers, specific videos, podcasts,
books, and much more in my e-book.
Step 4: Trading Setup
While you're educating yourself and preparing for trading, creating a
comfortable and well-organized trading space is a good bonus for optimal
focus, performance, and decision-making if you’re pursuing trading seriously.
Many people overlook this aspect; however, I believe that it can be important
for long-term success as you’ll be spending days, weeks, and months at your
trading station. Here’s what to consider:

Equipment Options

Computer setup
Internet speed
Cybersecurity software
Trading charts and platforms
Data feeds

Productive Environment

Ergonomics
Noise control
Work organisation

Step 5: Market Analysis

Now that you’ve explored your trading style, selected a financial market,
educated yourself, and created a comfortable trading space, it’s time to
develop an understanding of technical analysis to guide your actions and
decision-making in the markets.
Technical Analysis

Technical analysis is a method used by traders and investors to evaluate and

forecast future price movements of financial assets by analyzing historical price
charts and trading volume. It is based on the idea that historical price and
volume data can provide insights into future market behavior. You need to learn
about:

Price charts
Time frames
Candlesticks
Trend lines
Market structure
Support and resistance
Supply and demand zones
Indicators and oscillators
Chart patterns
Candlestick patterns
Volume analysis
Fibonccai retracement
Fair value gaps
Order blocks
Smart money concepts

Fundamental Analysis

Fundamental analysis is a deep dive into all the information available about a
trading asset. It uses a mix of quantitative financial metrics, qualitative
measures, and social and news factors. Ultimately, fundamental analysis aims
to determine an asset's intrinsic price, making it a crucial aspect for all aspiring
traders and investors to understand. Here’s what you need to study:

Quantitative data
Qualitative data
Economic indicators
 Company financials
Global events
Teams, investors, and advisors

By combining the factors above, fundamental analysis is usually conducted

from a macro-to-micro perspective to identify assets that are not correctly
priced by the market in this order:

The overall state of the economy

The strength of the specific industry
The financial performance of the company/organization issuing the asset
The fair market value for the asset

Step 5: Risk Management

Effective risk management is the most crucial aspect of a successful and
sustainable strategy. Without proper risk management, the potential to lose
everything in a single trade becomes very possible.

Risk is defined as the likelihood that a loss will occur and risk management is the
process used to mitigate or protect your personal trading account from the
danger of losing your total balance. In short, risk management is a method to
control risk exposure when trading.

Planning your risk will help you maintain consistency when trading the markets.
Becoming a consistently profitable trader is one of the biggest hurdles that you
need to conquer, and it can only be done right from day one if you plan your risk
exposure. You must master the 4 layers of risk management to become a
successful trader:

The 4 Layers of Risk Management

Stop-loss and take-profit orders

Risk planning
 Trading risk reward ratio (RR)
Position sizing

Step 6: Trading Emotions

Trading encompasses more than just numbers and charts; it requires a deep
understanding of the human elements and emotions that influence price action.
Have you ever come across terms like "FOMO" (Fear of Missing Out) and
"greed"? These encapsulate the sentiment-driving emotions that we often see
in the trading industry.

Your mental state has a significant impact on the decisions you make,
particularly if you are new to trading, and keeping a calm demeanor is
important for progress. Learning to navigate these emotions often becomes the
deciding factor in whether you succeed or fail as a trader. To excel in the
trading 'game', it's imperative not to succumb to emotions when entering and
exiting trades. Therefore, mastering emotional management is crucial. Here are
the most common trading emotions that you must learn to navigate:

Greed
FOMO
Anger
Impatience
Over-confidence

Step 7: Trading Plan

A trading plan is a systematic method for identifying trades that takes into
consideration several variables, including time, risk, and goals. It outlines how
you will identify and execute trades, including under what conditions you will
buy and sell, how large of a position you will take, how you will manage
positions while in them, what assets will be traded, and other rules for when to
trade and when not to. A trading plan always combines both technical and
fundamental analysis.
Maintaining discipline in the markets and establishing a personalized system is
crucial for successful trading. With a plethora of timeframes, indicators, and
patterns, it's easy to get lost in the noise and make irrational decisions. A
carefully curated trading plan helps you take a step back and analyze charts
based on price action from one end to the other.

A good trading plan can come in the form of a checklist to keep you disciplined
and should include:

High timeframe (HTF) analysis

Medium timeframe (MTF) analysis
Low timeframe (LTF) analysis
Trade position rules
Trading journal instructions

Step 8: Testing Your Plan

In the pursuit of trading success, testing and refining your trading plan is an
ongoing process that allows you to adapt to volatile market conditions and
enhance the effectiveness of your strategies. Here’s what you need to do:

Backtesting

Backtesting is a method for seeing how well a strategy or trading model would
have done in the past. Backtesting assesses the viability of a trading strategy
by discovering how it would play out using historical data. If backtesting works,
traders can develop the confidence to employ it going forward. This
retrospective analysis helps to identify potential strengths and weaknesses in
the new approach or strategy before risking real capital.
Forward Testing

Forward testing is a method of evaluating the performance of a trading

strategy by applying it to real-time market data and observing how it performs
in real-time, on data that the strategy has not seen before. This is in contrast to
backtesting, which involves applying a strategy to historical data and observing
how it would have performed in the past. This practice bridges the gap
between theory and live trading, offering a risk-free environment for refining
your skills if conducted on a paper trading (demo) account.

Step 9: Choose a Broker, Exchange, or

Funded Account
Before you start live trading, you need a platform to facilitate your trades. Your
broker (or exchange) serves as the gateway to trading the financial markets
and selecting the right one is crucial for a seamless trading experience.

I have been using BingX for trading and investing in crypto for a long time now
and my experience has been great! For Forex and commodities, I am currently
trading on and working with EPFX, a highly regulated broker where you can
trade forex, indices, metals, crypto, and more. Check both of these out to get
started.

What about funded accounts? A funded account refers to a trading account

that is provided with capital by an external entity, such as a proprietary trading
firm. Unlike a regular trading account where you deposit your funds, a funded
account offers traders the opportunity to trade with the external entity’s money.
I’m currently funded with Goat Funded Trader, so if you wish to explore prop
firms and funded accounts, you may consider starting here.
Step 10: Trading Strategies and
Positions
It’s time to put everything you’ve learned together to develop your trading
strategy to identify potential trade positions and generate trade ideas. There
are several methods to accomplish this, but you have to integrate everything
you have learned so far to optimize your chances of success.

It's essential to combine multiple methods and approaches to identify trade

positions and ideas effectively. Additionally, risk management and emotion
management should always be crucial considerations when executing trades
based on your ideas. Here, there are two options:

1. Work on developing your own strategy.

2. Employ a proven strategy that has brought many traders success.

When developing your strategy or using another, consider these:

Liquidity
Displacements
Market structure shifts
Inducements
Fair value gaps
Optimal trade entries
Balance price ranges
Order blocks

You can find my personal profitable strategy and my suggested beginner-

friendly strategies in my e-book.
Step 11: Executing Trades
Once you've chosen a broker and are equipped with a trading plan and a well-
defined strategy to identify trade positions, the next step is mastering the art of
placing orders based on your technical analysis and strategy. Executing trades
is when a buy or sell order is fulfilled, whether that’s via a market or a limit order.

Market Orders: A market order is an instruction to buy or sell an asset at the

current market price (CMP). This order guarantees execution but does not
guarantee the exact price. Market orders are suitable when immediacy is
prioritized over price precision, common in fast-moving markets.

Limit Orders: A limit order allows you to specify and set the exact price at which
you want to buy or sell an asset. This order type provides price control but does
not guarantee execution if the market does not reach the specified price. Limit
orders are beneficial for setting entry and exit points in more stable market
conditions.

Simply put, trading is as easy as analyzing the chart, identifying opportunities

based on technical analysis, risk management, your strategy, executing trades
via market or limit orders, and triggering either your stop-loss or take-profit
order on a long or short position.

Saying this, becoming a successful trader is not something that happens

overnight. It takes months, if not years, to consistently turn a profit. However,
once mastered, you become a money-printing machine. By learning everything
in the correct order as outlined in this plan, you pave the way for growth and
success in your trading career. It’s not easy, but it’s incredibly rewarding.

If you’re ready to dive deep into all the factors and concepts mentioned in this
introductory plan, then my e-book is precisely the tool you need. Even if you
have no prior experience and don't know where to start, my book will guide you
step-by-step on how to capitalize on trading before it's too late.
Inside, you get everything you need in one place:

5+ years of trading experience in 144 pages

Trading mindset preparation tips and lessons covering the basics
Guidance in selecting the correct market and trading style for you
Resources to build a strong internal and external trading foundation
In-depth technical and fundamental analysis masterclass
Risk management and emotional management guidance
Actionables to develop your trading plan, rules, and journal
Tips on choosing the best broker, exchange, platforms, and more
Beginner-friendly trading strategies that are proven to be profitable
Access to me and 24/7 support from my team in my Discord community
My performance tracker spreadsheet, trading guides, and checklists
A HUGE discount to my premium trading community to apply your new
knowledge

>> click here to secure your copy now <<

Still not convinced?

Head to my website and free Discord to see how I've helped over 6,500+
aspiring traders.

Additionally, see the "e-book" story highlight on my Instagram page for a

complete preview.

Ready to become a profitable trader? Your success is just one decision away.
Let today be the day you change the trajectory of your life forever.

As always, feel free to send me a message if you need any help!

Thank you,

Ewen Collier (Founder & CEO of WxCafé)