Why is a trading plan so important?
http://www.financial-spread-betting.com/Good-trading-plan.html PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE! Organise your trading life right now. I realise a lot of people are drifting around in trading with no plan on what they are going to do. Many people I've encountered didn't have a trading plan when they started. I genuinely believe that if we get people to start off with a plan before they do anything (or at least early on) they will have a much better chance of success. Organising your life properly greatly improves your trading performance. OK.
Have a Trading Plan When Starting Out!
- Rewrite your plan - it is hard to know what you are going to do. If you are starting out just make something out.
- Decide on setups - at the beginning maybe you don't have a setup that you know is profitable but you can guide yourself. Try something simple to start with.
- Decide on markets
- Decide on risk - beginners either start too large a size or too small but it has to be meaningful for you.
- 'Diary entry' downtime - put in slots where you will stop trading and do something else.
- Write down non-financial goals
Related Videos
Have a Trading Plan When Starting Out! 🤛
https://www.youtube.com/watch?v=GT_FrSCccEwQuick Beginner's Guide to Creating a Trading Plan 👍
https://www.youtube.com/watch?v=asaM473vw3wNew Year, New Trader, Your New Beginning! 🌈
https://www.youtube.com/watch?v=Qs206c9iThoPREP Method: Profit Target, Risk, Exit and Patience 👍
https://www.youtube.com/watch?v=iGEB-TSRcvM5 Reasons Why Trading Plans Fail! 😐
https://www.youtube.com/watch?v=vsFSjrQHX_sHow to Develop a Trading Plan - Goals: Part 1 👍
https://www.youtube.com/watch?v=76Qtm0RKMc4Creating your Trading Business Plan: Part 2 👍
https://www.youtube.com/watch?v=MdPIpecZmcYTrading Plan: The What (Markets), When (Times) and How (Strategy): Part 3 👌
https://www.youtube.com/watch?v=pFydBajqCzsTrading Plan & Checklist: Limiting Risk - Per Trade Risk, Daily Risk and Limit Risk: Part 4 👌
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