Create a Simple Trading Plan for Beginners — Complete Guide using TradingView

📈 Create a Simple Trading Plan for Beginners — Complete Guide using TradingView

Trading without a plan is like sailing without a compass. In today’s fast-moving markets, a well-structured trading plan helps you make smart, data-driven decisions instead of emotional ones. Whether you’re a new trader or someone who’s been testing the waters, this guide will help you design a practical plan using TradingView, one of the most popular platforms for market analysis.

At AI Computer Classes – Indore, students learn not just the tools but the mindset behind successful trading. Let’s build your trading foundation step by step! 🚀

💡 Why Every Trader Needs a Trading Plan

A trading plan defines your strategy — what, when, and how you’ll trade. It helps remove guesswork, control risk, and increase consistency.

Key Benefits:

• Clarity: You know exactly when to buy or sell.
• Discipline: Avoid impulsive trading decisions.
• Confidence: Backed by data, not emotions.
• Risk Control: Keeps losses manageable and profits measurable.

🧩 Step 1: Define Your Trading Goals

Before opening a chart, ask yourself:

• What is my monthly or yearly goal? (e.g., 5% portfolio growth)
• How much time can I dedicate to trading daily?
• What capital am I starting with?

🎯 Example:

“I will trade only Nifty 50 stocks using intraday setups and aim for 2% growth per week.”

💡 Tip: Keep your goals realistic and measurable.

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📊 Step 2: Choose a Trading Style

Different traders have different risk appetites.

Popular Trading Styles:

• Scalping: Quick trades within minutes.
• Day Trading: Multiple trades in a single day.
• Swing Trading: Holding for a few days to weeks.
• Position Trading: Long-term investment approach.

Choose one style that fits your schedule and mindset. For beginners, swing trading is a great balance between time and risk.

🧠 Step 3: Build Your Watchlist in TradingView

Once your style is clear, it’s time to pick assets to trade.

How to Create a Watchlist:

1. Log into TradingView.
2. Click on the Watchlist panel on the right.
3. Add your favorite stocks or indices (e.g., INFY, TCS, NIFTYBANK).
4. Save the watchlist as per your strategy (e.g., “IT Stocks Momentum”).

🎯 Keep it short — 10 to 15 assets maximum — to focus better.

📈 Step 4: Identify Your Entry & Exit Rules

This is the heart of your trading plan.

Example Strategy Using Moving Averages:

• Entry: When the 20-day EMA crosses above the 50-day EMA.
• Exit: When the price hits a predefined resistance or drops 2% below entry.

Example in TradingView:

Use the Indicators section to apply EMAs, RSI, or MACD and visualize your setup.

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⚙️ Step 5: Set Risk Management Rules

Risk management ensures you protect your capital even when trades go wrong.

Standard Rules:

• Risk only 1–2% of your capital per trade.
• Use Stop-Loss (SL) and Take-Profit (TP) levels for every trade.
• Maintain a Risk-to-Reward Ratio (RRR) of at least 1:2.

📘 Example:

If you risk ₹500, aim for ₹1,000 in profit.

📅 Step 6: Keep a Trading Journal

A trading journal helps you analyze what works and what doesn’t.

Include:

• Date and Time of trade
• Stock name and entry/exit points
• Indicators used
• Profit/Loss
• Personal notes or emotions

🧾 Use Excel or Google Sheets for tracking. AI Computer Classes also teaches Power BI dashboards for visualizing trade data effectively.

🔍 Step 7: Review and Optimize

Once you’ve followed your trading plan for a few weeks:

• Review winning vs. losing trades.
• Note which setups perform best.
• Refine your indicators and timeframes accordingly.

TradingView’s Strategy Tester can help you backtest your strategy automatically.

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🎯 Step 8: Combine Data Analytics with Trading

Modern traders go beyond charts — they use AI tools, Power BI, and Python to analyze data patterns and performance metrics.

Examples:

• Use Python scripts to calculate moving averages automatically.
• Visualize daily P&L in Power BI dashboards.
• Use ChatGPT to summarize daily market trends.

This hybrid approach enhances both speed and accuracy.

🚀 Advantages of Having a Trading Plan

✅ Builds discipline and emotional control

✅ Helps identify consistent profit zones

✅ Improves decision-making through structured rules

✅ Enables data-backed growth

✅ Simplifies performance tracking

🧭 Conclusion

A simple trading plan is your foundation for consistent success. Tools like TradingView, combined with data-driven insights, make trading both efficient and educational.

At AI Computer Classes – Indore, we train you to think like a professional trader — combining analytical thinking with the latest trading tools.

Start today, stay disciplined, and let your trading plan guide every move you make! 💹

📞 Contact AI Computer Classes – Indore

✉ Email: hello@aicomputerclasses.com

📱 Phone: +91 91113 33255

📍 Address: 208, Captain CS Naidu Building, near Greater Kailash Road, opposite School of Excellence For Eye, Opposite Grotto Arcade, Old Palasia, Indore, Madhya Pradesh 452018

🌐 Website: www.aicomputerclasses.com