New Trader--Trading plan

Discussion in 'Professional Trading' started by jhaski, Nov 7, 2006.

  1. jhaski


    Sorry for the dumb question, but how do I make a trading plan?

    Are there any books or websites that would help me start?

    Thanks for the help.
  2. exceptional trading the mind game by ruth roosevelt
  3. watch the mkt ad nauseam and study patterns that keep repeatin'; then find a way to trade 'em..once u know odds/ranges u can build your tradin' plan around it.
  4. No, books and websites ate a complete waste of time. Understand the basics, like what kind of trader you want to become, what products you want to trade and how those products are executed. Also, learn money management. Otherwise, book and sites teaching plans or techniques are a waste of time and money. Its all trial and error. Open up an account, and start learning from your mistakes. Work hard and best of luck.
  5. Why not start by using the ever so handy Search link, in the upper right-hand corner, right where you are? Keywords "trading plan" (with or without quotes, doesn't matter) - search titles only - show results as threads.

    Presto, you get 28 results over 4 years, many highly relevant. Enjoy.

    Also, there's an entire chapter devoted to creating 1) a business plan and 2) a trading plan, with detailed samples of each, in Van Tharp's book Financial Freedom through Electronic Day Trading.
  6. Your next step is an important one. Choose wisely!
  7. Snatch the pebble from ET's hand, Glasshoppuh!

  8. One thing you might do jhaski, is avoid advice from those with poor records as traders. Just a heads up.
  9. LOL. Damned hard to tell who those people are given most of us don't post our P&Ls.

    On a serious note this resource is worthwhile.
  10. Well, posting 100 times in a positive light about a scam stock that then dropped 60% in two days for no good reason, would be a small clue.
    #10     Nov 7, 2006