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New trader trying to put a trading plan together
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LeviSievwright5

Member Since Jul 20, 2020  117 posts LeviSievwright5 Sep 10 at 01:44
A trading plan is very important to make a profit consistently. Never achieve success without a plan. After a good analysis you need to know where to set stop loss and profit level, what percentage of risk you are taking for a trade, how to manage 1: 2 risk-reward, how to manage the trade after opening the trade. The trading plan is analyzing all these things.

radioactive

Member Since Sep 07, 2020  37 posts radioactive Sep 10 at 05:33
It is always good idea to set a trading plan. It can be done via backtesting and trying out various buttons in demo account. Just take into consideration of many variables, like risk management, money management, and many more.

kkkkk_1

Member Since Jan 10, 2020  24 posts kkkkk_1 Sep 11 at 09:42
ParticipantLAD posted:
Hey Walpants, Good on you for asking this question as it's a foundation must of trading.

You first want to focus on your timetable, What obligations do you have currently? Job? Children? Morgage?. As this will decide how much time you can place into your chart to left click your strike rates.

Second, What is your strategy?. What are your rules?. Can you confirm that it has a frequency that will deliver consistency. This will create your income.

Third, From the first when you turn off your charts you turn off the mode of thinking about your positions. Providing you have rules and the confidence to see your positions through as trading is a job at the end of the day and must be respected as one.

Think about these first.

ParticipantLAD.



hello sir.
thank you for advices. it really makes me to think about my future trading plan.

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