Forex Trade Plan

My overall goal is obviously to turn one of my accounts from $2000 to a $1.000.000 in 2 years.

I plan to do this by trading the forex market. With skill & discipline.

Forex rules

I will only enter a trade if ALL my conditions are met - in my case this is if a number of indicators & emas are all pointing the same way at the close of a candle on a 4 hour chart.

I will determine my stop loss & exit BEFORE I place a trade;
meaning I will determine where I think that he market will stop in the short term (my 1st exit point) & I will remove at least 50% of my winnings at this stage. I will then move my stop to the entry point or more & leave the balance to run to my next calculated stop point (2nd exit)

I will never risk more than 5% of my account balance in a single trade/position *

If my trade would be against the trend, I will only risk 2.5% of my account.

My risk reward ratio is at least 1 to 1:
I will only enter a trade when I have calculated that there is a likelihood of a gain (reward) at least equal to my stop loss (risk) & better if possible. For example if the market has stopped at its all time high on 3 occasions and it is only 20 pips away from my entry, I will not take the trade.

I will not enter trades too late/ Chase price. Ie I missedthe entry but decide to dive in anyway.

I will not gamble with my families money.

Forex Money Management