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A SIMPLE TRADING PLAN FOR MAKING GOOD MONEY ON IQ OPTION

 For many new traders, coming up with a trading plan is one of the difficult activities they must engage in. Trading without a plan is like blindly shooting in the dark. You’re relying on luck to make money. And luck never works when it comes to trading with Online Trading Platform

 

After scouring the internet for good trading plans, I found that many of these did not cover the essential details. What many teach is how much to invest per trade. But they don’t cover other important aspects.

That’s why I’ve created this simple guide. Let’s get started.

 

What should go into your trading plan?

 

How long it will be in use


The first thing you must decide when creating a trading plan is how long you intend to use it. It could be one day, a week or a month. My trading plans are usually designed to last 1 week. This gives me enough time to test it and analyze its efficiency. If it works, I’ll continue using it for up to 1 month.

 

As long as I’m using this plan, I will document all trades I entered into. Luckily, IQ Option provides the trading history feature. This comes in handy when I want to have a quick glimpse of how my trades for a particular day did.

 

The trading strategy to use


There are many trading strategies out there. However, each trading plan should have one trading strategy. For purposes of this guide, I’ll use the TLS method coupled with support/resistance and the RSI indicator. The Guide to Using the Trend Level Signal to Make $249 should get you started with this strategy.

 

The reason why I chose the TLS method is that it’s simple to implement.

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