Creating my Trading Plan + My Trading Journal

My trading experience is 6 months, most of that time was wasted looking for holly grail indicators and EA, i have enough of that and decided its time to take this serious and start to learn how to trade.
The objective for this thread is to learn from my mistakes, improve my trading and achieve a final trading plan to go live.
This trading plan is based mainly in support & resistance, PA and candle stick pattern, the only indicator im using is Murrey Math, the settings are adjusted to achieve +/- 60 pips distance between major levels, i´m using 1h and 30m to find direction, 5m to enter the trade.
My objective is to do at least 50 pips every day during London and NY, only trading Eur/Usd.

At this point the trading plan is really basic:
Find major sup and res, look for bounces, rejection or b/o.
If market is ranging scalp for a few pips.
I don't open trades 15 to 30m before news
I don't counter trade
I only open one position.
SL may be from 10 to 30 pips depending on where i enter the trade, if the trade is looking good sl will be changed to BE.
TP will be on previous sup or res but always looking to protect profits, example my TP is 60 pips and im already +50, if PA changes and i start loosing pips ill close the trade.

Added my edited version of Murrey Math
I don´t follow overbought or oversold lines, i follow price action.
A pair is only overbought or oversold when traders want it to be overbought or oversold, no indicator can predict that.
Blue lines - major sup/res
Green lines - minor sup/res

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Rules added to plan:
Close open trades before NY open
Monday especially with no news is not a good day to aim for 30 - 60 pips trades.
Avoid trading against m30 or 1h direction.
I don't have any expectation of the market, i trade what i see not what i think.
I don´t follow anyone trades, i like to read other traders fundamental and technical analyses but i never trade based on what other think.

Your plan isn't bad, it’s too short. You have to be very specific in everything. A trading plan is not a game plan, their separate. Think of a trading plan as the strategy and a game plan as tactics to implement those strategies on the battlefield. My stock trading plan is about 20 pages long, and I still feel like I need to continuously update it. My game plan is about a page long. Trust me, when you prepare properly, profitability is just around the corner.

Thanks for replying split_unit, its really to basic at this point that's why i started this thread, so i can review my trades and improve it gradually with live trading situations.
Well 20 pages is a really fine tuned trading plan, can you give some lights on what topics i should be thinking at this point?

Best regards.

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png upload

waiting for a break on grey area.

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Long 1.44227
TP 1.44420
SL 1.4410

update - Sl moved to BE

Out at BE

I could TP at 4434 for +15

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New long on m5 close @4425
SL 4415
TP 4440

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I closed the long before NY open, -3 pip
Now Flat, waiting for 4404 or 4434

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4404 still good support area, and im still bullish.
Long 4412
SL 4397
TP 4444

update - Sl moved to BE

Out for +10, didn't like that 3 red candles on 5m

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If price dont break 4434 and back to 4404 area we may well be ranging... waiting now

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Price reached 4404 and bounce, i tried long at 441 TP 4429 Sl 4395 price end up breaking 4404 got sl -15 pips.
got late to play the range, also m30 and 1 h where clearly pointing down, so long was not my best idea today.

Now short at 1.4393 sl at BE TP 1.4358

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Short Closed +20

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Im still more in short side, will short again if got solid break of 4373 area

Not gona trade more today, total +12

Sure, I dont mind assisting a fellow trader. The key components of my trading plans are:

1- Trading Concept: What do I trade? Why do I trade it? My goals from the trading process, and a self analysis of myself my strengths and weaknesses, areas I want to develop in my trading, how to handle drawdowns...etc

2- Game plan preparation: How do I prepare for the day? What do I look at? Premarket checklist since I trade equities...etc

3- My weekly gameplan process: How do I prepare for the week?...etc

4- Market Analysis: Environment recognition, sector industry analysis, volatility assessment, fundamental analysis...etc

5- Trading System: Types of trades, entries, exits, reading market internals techniques...etc

6- Money Management: Position sizing, trailing method, exits and entries according to environment...etc

7- Activity Assessment: When am I active? When do I stay away? When do I add? When do I trade half size?...etc

thx split_unit

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Missed the up move from 445 to 449.
Now im watching 451, was major support 2 times recently (17/8 - 25,26,27/7)
Price did not break 4496, if goes down, ill wait to see how 4465 behaves.

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1st trade i long after 4465 bounce, tp was 4495 but close +5 when start moving down, then short end up SL at BE, re-short and close before NY open for +11.

Played the MM levels, Short at 4456 TP 4404 SL +20 now
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1st good trade since i started this thread +52
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flat now

No more trades today, total 66 pip

2 trades today 1st Short 4460 got sl at BE, 2nd short 4465 running TP 4404

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2nd short also sl at be, 3rd short at 4456 closed +20 before NY open, now flat until news

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Price been in same 30 pips range for 5 hours now... boring

update short 4452 sl at be, and short 4467 TP was 4442 but dont want to risk much and close manual for +20

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bad decision... short end up to be really nice move, the best of the session since i arrived..

... trade the fecking plan masterpulha

Total today +40

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Short 4445 TP 4404 SL BE

Closed +25

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Out for next 2 hours

Hard to trade today, 1 day before entering vacations.
Short 4448 SL at BE TP 4404

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Got my tp this time +44

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she aint stoping new short 4373 TP 4343

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TP +29

Total today +98, good day.

1st trade today, Short 4433 SL above 4450 TP 4404
got my tp +31

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speech created big moves, im short 4391 tp 4343
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TP + 46

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total today +77 pips

week total + 293 pip

Great trading, that's about 60pips/day this week.
Keep it up, rinse and repeat

Nice surprise having you here buddy, i feel im on the right track now.
Thanks for your help and support.

Hey there, I enjoy reading your journal as your system looks similar to the one I use lately.
I also work with a system based on PA/swing/pattern interaction around key levels. The system itself is a bit psychology based. I´m trying to see at what point the majority of the people are either stuck in longs or in shorts. This usually happens in breakout failures. Especially when these BOF's are pure counter trending. My system is purely based on these breakouts & pullbacks lately.

Anyway, screen below. 5min is my trading TF, however, 1min is sometimes used as an entry-exit in order to get short term sentiment right. I also use the 15min for a clear overview / chart pattern recognition.

Indicators that I use are daily-weekly-monthly pivots, MACD histo15m TF, RSI histo5m & KG support and resistance on 1min.

I'll keep watching your journal, goodluck on your trading!

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Thanks for dropping by and sharing your system Robertk

1st trade today
Short 1.4515
Sl 4529
TP 4465

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close short +20, want to be flat before NY open

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boring day to trade e/u ...

short after 30m close tp +15 pips .. lets see

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got my tp

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not going to trade more today.
Total +35

almost forgot to post this entry

Short 4475, sl already at BE
TP 4436

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TP +38

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New short 4442 SL BE
TP 4404 - Closed at BE

Then new short 4426 got my TP +20

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Short 4396 on 30m close, but then got hour close above 4404 close -15
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i was Long 4418 but got some family at my place and need to close manually at 4430 +12

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Long 4423, news spike down but 4404 sup respected tp 4464

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need to go for now, close trade 4437 +14

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Total now +69