The Trading Plan: Your Written Set of Rules

Risk warning: No plan means random trades and fast losses. This is education, not financial advice.

A trading plan is a short list of rules you write before you trade. It tells you when to enter, where to place stops, and when to walk away.

Why you need it

Without a plan you trade feelings. Fear makes you exit early. Greed makes you hold too long.

A plan removes decisions in the heat of the moment.

What goes in a simple plan

• Market — which pairs? (for example EUR/USD in London 8am–5pm WAT)
• Setup — what must you see? (for example uptrend + pullback to support)
• Entry/Exit — where to enter, stop loss, take profit. See Entry and Exit Rules.
• Risk — 1% per trade. See The 1% Rule.
• Hours — when you trade in WAT. See Trading Sessions and WAT.
• Stop for the day — for example "stop after 2 losses".

Keep it to one page. Trade it on demo two weeks, then cent live with ₦15,000 / ~$10. See How to Start Forex with ₦15,000 from Zero.

Rate used: ~₦1,500 / $1. Small amounts like ₦150 use same rate.

Bottom line: Write one-page plan — pair, setup, 1% risk, stop, daily limit — and trade it, or you risk feelings making your trades. Links To Guides: Pillar 3 (Beginner Setup).