How to Compile a Strategy Template?
Anya Mei
21 Nov 2022
263 views
An important tool to enter and exit the market, a strategy template is a plan to analyze and execute trades with a certain method. It usually includes the date of the trade, reasons to enter the market, as well as the price levels of trade executions.
A basic strategy template starts with a few lines that describe the overall trading strategy, followed by a checklist that consist of the following elements:
- Date of the trade
- Currency pair
- Entry position (buy or sell)
- Reason to enter the market
- Entry level
- Stop loss
- Target profit
- Stop distance
By the parameters above, this is what a strategy template could look like:
| Date | November 20, 2022 |
| Currency pair |
EUR/USD |
| Entry position |
Buy |
| Reasons to Trade |
|
| Entry Level | 0.9750 |
| Stop Loss | 0.9700 |
| Target Profit | 0.9800 |
| Stop Distance | 50 |