Blue Print to every trader for profitable trading

In the market, you must have a blue print for every trading level. We know as well that before jumping the trading, traders must follow their plan in the market.

In the trading journey getting success is not complicated if you have a plan, otherwise, your trading journey will go on good trust.

In this post we will talk about a proper plan, and how traders can be profitable traders in the market. getting success in the market is dependent on traders’ habits. If a trader follows all the plan that is made by himself before driving in the sea of trading.

Making blue print of trading is not hard but it little bit hard to follow. Many traders made their trading plans but sometimes plans were not followed by them.

how blue print is works

The blueprint is the soul of trading. If you have a plan for trading and you have done your research on it then you will be successful in the market. I agree with that approach Many traders have success without a plan, but you know one thing of them they have a clear vision about the trading. So now the question is arising Do you have vision like them?

Identify the overall trend

In the blue print, this point plays an important role. If you are going to prepare a blue print regarding trading then you must take a look out on the trend.

Spause you want to take a trade on buy-side trade but unfortunately, the trend is following the downside then maybe your position cut in the loss. So before taking any kind of trade, you must have proper trend information.

How you can find the trend- You can find the trend with the help of many indicators like Moving averages, trend lines, support, and resistance.

In my opinion trend, a line helps to find trends easily because it draws point to point and doesn’t give fake signals.

Blue Print: Look for key-level

Key levels are important to study before taking a trade in the market. Let’s say you are going to long in EUR/USD and TATA STEEL then you check out these stocks or currency levels in the market.

Traders must write down the levels on the papers for their trading plan. Because in the trading key levels help to historical relevance and help to easily do technical analysis in the market.

Many traders don’t like to make a blue print.

Use Indicator to see if they align with your analysis

Indicators play a very important role in the market. It makes your technical analysis easier for you. It depends on what indicator are you using and what parameters you have set in your indicators.

Now you come to know, that when you go for your analysis your indicator must be aligned with your analysis in the market. The spouse you are following the RSI indicator and you have set it over bought and over sold zone at 70-30 then it must match your analysis.

use indicators for align your analysis

The market must rebound from those level that is set by your own. We know very well without a blue print we can’t survive in the market for a long time. Because the market has many things to follow and it does not have any emotions.

If your indicator is not working according to your alignment then you must change the parameters and or indicators.

Find a good risk-to-reward ratio

The risk-reward ratio shows you are a good trader. If you are following a good risk-to-reward ratio then maybe your career will be destroyed after some time in the market. If you don’t have any kind of risk-reward rate then your position will not cut in profit or sometimes you can bear a huge loss.

We know very well in the market 1:2 ratio is sufficient but every risk-to-reward ratio has its role. Many traders follow 1:1, 1:0.80 and many of just 1:0.50. Because they want to learn in the market. If you follow that risk-to-reward ratio for learning purposes then it’s okay otherwise not.

I mostly recommend one each of two risk-reward ratios. Because if your 7 trades gone wrong out of 10. Then your position will be cost to cost or your position cut in 5 in profit out of 10 then you will close in profit. So I recommend that you follow one of each two risk-to-reward ratios in the market.

This is the most reliable blue print for every trader. Traders must know how I can lose in the market.

Refine your method

Blue Print-Refining is a good habit of every trader. With the help of it, a trader can improve his trading style. We know very well no one has been a pro trader since birth. But by practice, a trader can be a pro. In the market trader make a lot of mistakes if a trader learns lessons from his mistakes then he will succeed in trading.

refine

Here I’m sharing some methods with the help of those a trader can refine methods in the market.

  1. A trader must do a backtest with the help that the trader can see on historical data how it performed in the past.
  2. The trader must use stop loss or take profit technique in the market it helps to minimise the risk and maximize profits
  3. You know very well trading is not a short-term game. Don’t expect in the market you will get rich quickly. It takes time and process.
  4. Blue Print – Learning a lesson from your mistake is helpful to refine your trading method. If you ignore your mistakes while trading then it can be dangerous for you and you can lose your whole capital in the market. So you must learn from your mistakes and try to reduce your mistakes.
  5. If you struggling to improve your trading skills then you must get help from your mentor.

With that method, you can improve your trading skills or refine your trading method. I hope that the post is helpful to you. If we need any kind of improvement please drop your opinion in the comment box.

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