My Trading Plan

My Trading Plan

1. Step 1 - Fundamental Analysis

   • Create a Narrative on the US, UK, EU, Japan, China (Write a paragraph on the previous weeks news releases and whats been going on.
     • Some points for creating narrative. 1. Are they strong/weak. 2. Are the currency/stock prices up or down. 3. Why are they in the state that they're in. Develop a bias.
     • Key Areas to Analyse are 1.Growth. 2.Inflation. 3.Interest Rates 4. ISM Numbers
       • Growth: PMI's which are crucially important. They are a leading indicator and vital in indicating what GDP will be in say 6 months.
       • Inflation includes Retail Sales, CPI (CPI is Mathamatically calculated and vitally important), Wage Data
       • Interest Rates: Central Banks and Rate Statements.
       • ISM Numbers are also crucially important
   • Key Websites to use for Fundamentals are 1.Bloomberg. 2.Zero Hedge. 3.Forex Factory.

2. Step 2 - Technical Analysis

   • After doing fundamentals; analyse what currency pairs are weak and strong.
     • Check Daily RSI Indicator also to give an idea.
       • Look at Major Pairs.
         • Using M2 Strategy look at bigger time frames
           • Create Notification Alerts on MT4 to Areas of Interest for the week.
         • Using E&S Strategy look at smaller time frames