Professional Documents
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FTG Trading Plan
FTG Trading Plan
My Trading Plan
Falcon Trading Guidance
MARK HUTCHINSON
FALCON FX PRO MEMBER
TABLE OF CONTENTS:
Page 1 Table of Contents
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Risk Entry
My Go-To Setups
Risk Entry #1
Entry Criteria:
❏ Risk Entry Top or Bottom of Structure
❏ Three Touch Reversal Channel
❏ 1H Retrace Candle
● Always wait for the 1H close before setting an entry order a few pips below. Alternative
is entering on a 15M rejection for a more precise entry.
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Risk Entry #3
Entry Criteria:
❏ Risk Entry at the Top or Bottom of Larger Flag Continuation
❏ Third Touch on Top or Bottom of Flag
● Ideally we get a rejection candle on the third touch. 1H retrace candles are the ideal entry
point however any reversal candlestick formation is valid on the third touch. Override is if
price reacts to the double top or double bottom. It is important to remember that even if
the candles are impulsive leading to the third touch it is still a valid setup.
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Management
Management Styles
Management Style #1
Key Points:
❏ Higher timeframe structure with a clear pattern
❏ Forecasting the impulsive leg of the move
❏ Confirmation of the impulsive leg
❏ More relaxed stop losses leaving room to breathe
● Price has formed a very clear Daily or Weekly pattern and price has committed to itself
confirming the pattern. When we get an impulsive break of a pattern on the higher time
frames it becomes even more clear to utilize this management approach. This approach
is in alignment with the “Quick Tips - Season Three - Episode Two - Longer Term Holds”.
I utilise a semi-aggressive management style in conjunction with this approach.
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Trading Plan
Trade Checklist
❏ Is the overall move supported by higher timeframe structure or pattern? (Weekly/Daily)
❏ Does this position fall under one of my outlined Go-To setups?
❏ Have I fully forecasted the multiple different possibilities of price action?
❏ Does this position offer up at least a 3:1 Risk to Reward to my first outlined target?
❏ Can I safely enter this position with a minimum of a 15 pip stop loss?
❏ Is this my own analysis or did I take a hint from someone else with another opinion?
❏ Have I accepted that this trade could indeed be a loss, regardless of how it has formed?
❏ Are the spreads low enough to safely enter the position?
❏ Am I entering the position from a calm and collected state of mind?
❏ Is this pair or commodity on my targeted watchlist?
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Psychology
Quotes
Quotes:
1. “In order to trade in the zone, you must first understand how to learn in the zone”.
2. “Patience is not about waiting, but about keeping a good attitude while waiting”.
3. “Patience is the calm acceptance that things can happen in a different order than the
one you had in mind”.
4. “Consistency develops through focusing on the power of the winning trades, not the
losses”.
5. “News creates volatility, not direction”.
6. “Not one bad day, week, or month will make or break you as a trader”.
7. “In order to forecast effectively you first have to backtest effectively”.
8. “Understand the probabilities but also the possibilities”.
9. “Above all else the nature of the market will always guide us in the right direction”.
10. “Humble yourself or the market will do it for you.”
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My Trading Plan
Signature
MARK HUTCHINSON
FALCON FX PRO MEMBER
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