Do You Have A Trading Plan, and Do You Know It Inside and Out?

Discussion in 'Psychology' started by RAMOUTAR, Jul 22, 2003.

  1. I've received many PMs from my fellow ETrs, and I have learned that many of you don't have a "plan" or don't know your plan inside and out. One of the first steps in becoming a successful trader, is being honest with yourself.

    As my schedule loosens up here, I will make a "Personal Trading Plan" worksheet available to all of you, and perhaps follow up with a "chat" here on ET. Answer honestly.
  2. Yes :D

    The beauty of pure mechanical.


  3. Axeman, is your pure mechanical system based on patterns, indicators, or custom?

  4. Custom all the way.

    Haven't seen anyone discuss this strategy, and keeping
    my mouth zipped tight :D

    The edge has been slowly fading over the last several years,
    and I expect it to be gone in a few more. But who knows...
    Maybe the equity curve will get steeper...heh



  5. are you using a custom program, or a something retail like TS for your coding and execution?
  6. I use IB for execution, and realtick for quotes.

    Everything else is 100% custom.


  7. funky


    its amazing to me when i see this. it really puts things into perspective when you realize that even though we are all physically doing the same thing, for some people its an entirely different reality. i'm not mentioning any names here, but you see it all the time here. for some, the game is just that -- its a game that they get either lucky or they fail. what a scary way to do things in this business.

    you should have already won before you sit down in front of your computer....if you don't understand this, then you are approaching it all wrong, imho.

    i have a simle plan. its very black and white, and that's on purpose. i found that in life, if you make things very simple, clear, and directed, then you already know the outcome. for me now, discipline is key. the only thing standing in my way of becoming an elite trader is myself.
  8. Excellent, Funky.
  9. Have you ever used RealTick's execution?
  10. No. The IB api made things trivial.


    #10     Jul 22, 2003