MY TRADING PLAN
(Breakout/Break-and-retest Strategy)
1. Trading Goals
● Objective: Identifying high probability trades at key demand/supply, support and resistance levels,
and capitalize on breakout and retest setups.
● Target: 2% Percentage Return per week
● Risk Management: Risk Maximum 1-2% of total capital per trade
2. Market Instrument
● Market: Forex/futures
● Timeframe: 5 min and 15 min as primary entry time frame
● Trading hours: New York P.M. Session (4pm-8pm)
3. Strategy Criteria
● Support and resistance Levels: Top-down analysis from higher timeframe, to entry time frame, finding
key levels where price reacted to
● Breakout Criteria: A breakout is confirmed when closes above or below a key level, and only taking a
trading after multiple confirmations
4. Entry and Exit Rules
● For support and resistance: Enter a trade when price action shows clear rejection at a key level multiple
times
● For Break-and-retest: Enter after a confirmed breakout and a successful retest of the breakout level with
a confirmation signal (such as a bullish/bearish engulfing candle)
● Stop Loss: Place stop Loss slightly below a key level like support (for buys) or above the resistance (for
sells)
● Take Profit: Set TP at the next key level. Using at least 1:2 RR or higher
● Trailing Stop: Use trailing stop to lock in profits once price has moved favorably by a certain amount
5. Risk Management
● Position Sliding: Calculate position size based on the risk percentage per trade (distance between entry
and stop loss)
● Risk not more than 2% per trade
● Maximum drawdown: Maximum drawdown is 5% of my total capital a day
6. Monitor and Review Trades
● Daily/weekly Journal: Analyze each trade, noting why it was taken, the result, and any lesson learned.
● Performance Tracking: Maintaining a trading journal, logging entries, exits, reasons for the trade, and
emotions felt during the trade. Evaluate strategy monthly for any necessary adjustments.
7. Psychological Preparedness
● Discipline: Follow the trading plan strictly without deviating due to emotions
● Emotional Management: Take breaks after a streak of wins or losses to maintain a neutral mindset.
Practice mindfulness or meditation techniques to stay calm and focused.
8. Tools and indicators
● Use candlestick and chart patterns for entry confirmations
● Set alerts to avoid missing trades
● Use sessions and kill zones indicator and Supertrend for directional bais
9. Currency Pairs
● GBP/USD
● USDJPY
● GBPJPY
● NQ
● AUDUSD
● XAU/USD
10. Confluences
● Rejecting EMA
● Break of Key Support/Resistance levels that have been tested multiple times
● Volume Spike at the breakout, indicating strong momentum and market participation.
● price breaking above/below the 20 EMA in the direction of the breakout.
● Candlestick Patterns like bullish/bearish engulfing or pin bars at the breakout or retest level.
● Price Action on the retest showing rejection, such as a pin bar or reversal pattern.
● Trendline or key level break
● Chart pattern confirmation
