Trading Plan.

Discussion in 'Trading' started by EMini-Player, Jul 17, 2003.

  1. I'm working on writing up a proper trading plan. Do any of you currently have a written trading plan? If so, could you post it here (don't have to fully disclose your strategy, unless you want to)?

    I just want to get an idea of what kind of format a trading plan should follow and just get some ideas on how I should proceed.

    Thanks in advance!

    -FastTrader :cool:
  2. What? No one has a plan? :confused:

    Plan the trade, trade the plan :confused:
  3. My plan is to buy low and sell high. I am trying hard to stick to it, however sometimes I have to take a loss. I usually dont come to ET board if I am making profits. Being here is a psychological relief when I lose money on a trade or two.
  4. So, today must have been another down day for you :D

    -FastTrader :p
  5. No. I today was a cooling off day so I did not trade, after two stupid trades yesterday. I lost because I violated my own plan of buying low and selling high.
    You know, the hot stove effect.
  6. bfalcon


    I won't share my entire business/trading strategy plan, but here the outline that I use:

    1. Core Methodology - Statement of purpose

    2. Trading day preparation and processing information -
    including book-keeping activities, real-time data, charts used
    and their layout, description of indicator tools used for trading.

    3. Primary trading times - when not to trade

    4. List of different market conditions, how I define them and how
    I trade each condition.

    5. Specific entry and exit criteria - describing specific price and
    indicator action required - with chart examples of each setup.

    6. Methodology management - money management

    I also keep a journal with current examples of my specific trade setups that I can refer to while reviewing my recent trading activity.

    Good trading,

  7. Here is the outline I wrote and use.
  8. They've been posted here a few times in the past.

    Use ET search menu in the upper right corner to find them.