Building a trading plan
What is it?
It is designed to help all types of traders develop a template to create their trading plan.
Who will it help?
It is most relevant to new traders however anyone trading the markets should have a trading plan. Take our word for it, if you think you can beat the market with no plan you wont. The old adage of “If you fail to plan, you are planning to fail.” Is so true in the financial markets. When the instruments you are trading are moving rapidly, you need to make quick decisions. Being stuck like a rabbit in the head lights can be extremely costly.
What's in it?
It outlines trading activities you need to consider, goals to aim for, risk management to set. Then most importantly what you want to be rewarded for it.