Do you believe in using a Trading Plan?

RachelEB

Private, 1st Class
Messages
69
I think having Trading plan is a good idea, it is when I deviate from my own that I tend to find frustrations creep in, mindset can wobble etc.
That may just be my personality and I am sure others will trade far better without.
I tend to find sticking to the trading plan, also helps keep the process an emotionless one.
 

walpants

Corporal
Messages
74
Is anyone able to enlighten me as to what goes in this plan please? what kind of things should I look to have in my plan? is it basically a strategy to follow?
 

Anthony23

Recruit
Messages
86
Trading is all about managment and management requires planning which is a universal truth. You have to make a plan of money management and risk management and then you have to follow that plan until you fail. Sticking to a plan is the best way to learn trading. Thank you so much!
 

Purekiller

Recruit
Messages
58
In my opinion it really comes with the experience, that's for sure and there is no other way about it really. How do you really make all your mistaked and good thoughts in some plan is really out of my imagination here. I do understand it's quite hard.
 

bigdolly

Sergeant Major
Messages
899
I have trading plan trading, basically it consists of three simple rules:Don't overtrade, use stop loss and never risk more than 1% of my equity per trade. As you can see it's all about money management, because after 4 years of practice I found that many trading systems lack discipline.
 

momo3HC

Sergeant
Messages
232
I have trading plan trading, basically it consists of three simple rules:Don't overtrade, use stop loss and never risk more than 1% of my equity per trade. As you can see it's all about money management, because after 4 years of practice I found that many trading systems lack discipline.
1% is good. ;)
 
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