$100 Forex AI Trading Plan | Forex Trading Plan for 20 Days
The Forex Trading Plan is a crucial aspect for anyone who wishes to pursue Forex trading and earn money through it securely and consistently. If a trader lacks an established plan, there is a high probability that their trading success will be compromised by emotions, overtrading, and poor risk management practices.
Choose the Best Trading Broker
Selecting a broker for the forex market is an integral step in identifying a forex trading plan.
When selecting a broker, the following points should be taken into consideration:
Regulated
Financial Regulatory Body (ASIC, FCA, CySEC) Exness, HFM, and Avfx Capital
Low Spread/Quick Execution
Compatible with MetaTrader 5
Automated (AI) trading allowed
Minimum initial deposit $100.
Recommended Account Type
- Standard or Cent Account
- Low commission
- Spread below 1.5 pips on major pairs
A good broker ensures your AI strategy runs smoothly without slippage issues.
Deposit Fund on the Best Account
Following the selection of a broker:
Activate a live account
Provide identity verification (KYC)
Deposit $100 through a bank account, cryptocurrency wallet, or e-wallet
Choose to utilize the MT5 trading platform
Ensure that automated trading is turned on through the settings panel of the platform.
What Is a Forex Trading Plan?
A Forex Trading Plan consists of a written document that explains the following factors:
The total capital you will use for forex trading
The amount of risk per trade that you will take
The trading strategy that you will employ
The timeframe for entering and exiting trades
The period of time you will stick with your trading plan
A properly prepared forex trading plan limits emotions and keeps traders disciplined.
$100 Forex Trading Plan Overview (20 Days)
Capital Investment $100
Duration of Trading: 20 Days
Risk Based On Your Investment 3-5%
Target Profit Per Trade 6-10%
Number of Trades You Can Make in a Day 1-2
The Strategy For This Plan Is An AI And Technical Strategy
The First Focus of This Plan Is Capital Protection, Followed By Steady Growth.
Recommended Strategy for AI Trading
Set of Rates – M15 or M30
Currency Pair(s) – EURUSD, GBPUSD, XAUUSD:
Indicators Used: (EMA50) and EMA200, (RSI) 14
ATR used for S/L placement
Entry Rules:
Buy signal generated when EMA 50 crosses up and above EMA 200
Confirmation that, as RSI has been established above 50, at this point (50)
Sell signal generated when EMA 50 crosses down and below EMA 200
Confirmation that, as such, RSI has been established below 50, at this point (50)
Execute the Forex Trading Plan for 20 Days
Day Trading Guidelines
You are allowed to make two trades in one day, maximum.
You need to risk only three–five percent on each trade.
If you lose one trade, stop trading for the remainder of that day.
Follow your plan exactly for twenty days without deviation.
Weekly Objective
You should be seeking to grow your account by ten–twenty percent weekly.
You should not overtrade your account.
You cannot change your strategy once you have begun your plan.
The key to having a successful Forex Trading Plan is to be consistent.
Create MQL5 AI Trading Strategy (Concept)
The following is a reference only for MQL5 AI Trading Strategies, it’s only to give you an idea of the basic logic (and no, not the entire code):
MQL5 AI Trading Strategy Basics:
MQL5 AI Trade Logic
EMA Crossing and Confirmation by RSI
Lot Size based on 3% Account Risk
Fixed TP (Target Price) and SL (Stop Loss) on All Trades
TP and SL hit automatically
Do Not Trade During News Events
MQL5 Trading Risk Management Basics:
Account Balance × 3% = Your Trade Risk
Set Your Stop Losses Based On ATR (Average True Range)
Your Risk-Reward Ratio Is 1:2
By Using This AI Approach, You Will Remove Any Emotion From Your Day To Day Trading And Help Improve Your Overall Discipline.
Risk Management in Forex Trading Plan
The core of your Forex Trading Plan revolves around Risk Management.
Limit to a maximum of 5% of your Capital per trade.
Utilize Stop Loss Orders on Every Trade. Always!
Do not engage in Revenge Trading.
Do not increase Lot Sizes based on Emotion.
Capital Protection is More Important than Making Large Profits Quickly!
Common Mistakes to Avoid
A profitable forex trading plan will not only help prevent the above-mentioned mistakes, but it will also provide you with guidelines to avoid them if they happen again at a future date.
Final Thoughts
By employing discipline in the form of strict guidelines, good risk management techniques, and the use of Artificial Intelligence (AI) to trade Foreign Exchange (Forex), a $100 Forex AI Trading Plan will work very well. AI helps eliminate emotion-based errors, but there will never be any 100% guarantees for any trading plan.