Have a plan & Trade your plan

Sniper Club is having a new "game" again.


This time, they have to submit their trading plans and can only execute their trades base on the plan submitted.


If you have been following my blog posting, you know that I emphasize a lot on position sizing. So in this game, I have set the position sizing to: minimum 2 & maximum 3 (in real trades, they can enter as per their normal position size, but, for the game purpose, it will all be downsize to 2 & 3 lots).


We are now 3 weeks into the game.


Top 3 traders have one thing in common -- consistently doing 1, maximum 2 strategies to achieve the consistency in getting the money from the market.


2 traders are consistently trading the most powerful weapon in Sniper Club -- Fibonacci in Pattern and SLBW.



This is one of the example that trader CH has submitted. Pattern FIB.

(position size are reduce to 3 lots for the game)


Pattern FIB

This is another sample using SLBW Fibonacci from trader KC.

(position size are reduce to 3 lots for the game)

SLBW

Trader CH & KC are both using Fibonacci as their core trading plan.


I have the third trader who is using Waves(Emolines) to trade. Results are equally good (Rank #2 this week). The only different is, this trader obviously need more trades to climb to the top in order to match the other 2 traders.


Waves

Top 3 traders result after 3 weeks into the competition. This is their performance after 3 weeks. (With just 2 & 3 lots)

Performance Board

You must have heard or read lots of trading books that tell you to be consistent and be discipline in trading.


If you do not have a "concrete plan" and "strategy" to follow, and always hopping around using different strategies at all time during your trading hours, how are you going to achieve that CONSISTENCY?



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