So for next 30 day we are going to tarde only gold/XAUUSD,
Trading with a very small capital, such as less than $100, in the
highly volatile XAUUSD (Gold/USD) market requires careful
planning, strict risk management, and realistic expectations.
Here's a 30-day trading plan for trading XAUUSD with a 40 pips
target and 20 pips stop loss.
### Trading Plan Overview
- Capital: Less than $100
- Instrument: XAUUSD (Gold/USD)
- Trade Setup: 40 pips target, 20 pips stop loss
- Risk Management: Risk no more than 2-5% capital trade
- Leverage: 1:300
### Daily Routine
1. Market Analysis: Spend 30-60 minutes analyzing the market each day. Look at key levels, trends, and
news that might affect gold prices.
2. Identify Trade Setups: Based on your analysis, identify potential trade setups for the day.
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3. Entry and Exit Rules: Stick to your 40 pips target and 20 pips stop loss for each trade.
4. Record Keeping: Keep a trading journal to record each trade, including entry/exit points, rationale, and
outcomes.
### Week 1: Learning and Testing
- Objective: Get familiar with the market and test your strategy without taking significant risks.
- Action: Trade with minimal lot sizes. Aim to make 1-2 trades per day.
- Risk Management: Risk only 2-5% of your capital per trade. For a $100 account, this means risking $2-
$5 per trade. This might require trading with a micro lot.
- Review: At the end of the week, review your trades, analyze mistakes, and refine your strategy.
### Week 2: Consistency and Discipline
- Objective: Aim for consistent performance while maintaining strict discipline.
- Action: Continue with 1-2 trades per day, sticking to the 40 pips target and 20 pips stop loss.
- Risk Management: Maintain the 2-5% risk per trade. Consider increasing per trade if you feel confident
and have a positive track record from week 1.
- Review: End-of-week review to ensure adherence to your plan and evaluate performance.
### Week 3: Scaling Up
- Objective: Gradually increase position sizes based on performance.
- Action: If you have been profitable and disciplined, consider increasing your lot size slightly.
- Review: Daily and weekly review sessions to adjust the strategy as needed.
### Week 4: Refinement and Focus
- Objective: Focus on refining your strategy and solidifying gains.
- Action: Continue trading with increased lot sizes if profitable. Focus on high-probability trades.
- Review: Conduct a comprehensive review at the end of the month to analyze overall performance and
plan for the future.
### Key Tips for Success
1. Strict Risk Management: Never risk more than you can afford to lose. Stick to the 2-5% risk per trade
rule.
2. Avoid Overtrading: Limit yourself to 1-2 high-quality trades per day.
3. Stay Disciplined: Stick to your trading plan and avoid impulsive decisions.
4. Continuous Learning: Keep learning and adapting your strategy based on market conditions and your
own performance.
5. Stay Updated: Follow financial news and updates that can impact gold prices.
### Example of Trade Execution
1. Identify Setup: Using technical analysis, identify a potential trade setup with a favorable risk-reward
ratio.
2. Entry Point: Enter the trade at a strategic level with a clear 40 pips target and 20 pips stop loss.
3. Risk Calculation: Calculate the position size based on your risk tolerance (e.g., if risking $1 on a $100
account, the position size should be small enough that a 20 pips loss equals $1).
4. Execute Trade: Place the trade with predetermined entry, stop loss, and take profit levels.
5. Monitor and Exit: Monitor the trade, but avoid interfering unless your stop loss or take profit is hit.
### Conclusion
Trading XAUUSD with a small capital requires meticulous planning, discipline, and risk management.
Stick to your trading plan, keep learning, and stay disciplined to maximize your chances of success.
