First, I think way too many people who have little amount of money get into day trading cause it doesn't take much to open an account, way too many commercials or magazines of some guy on golf course saying he "worked' couple hours and now enjoying the good life, what it doesn't tell you is that guy worked so many years, and some years didn't know what month it was or if it was sunny or rainy day outside. Has so many stats, could wallpaper nineteen houses but keeps saying "I am so close".
Very few books if any that offer much more than generalization on Trading Plans and ones that I have seen are very vague on what should be included. Generally good traders not going to write books as they too busy trading, and let's face it, too many that write are in the ego stages of their life cause there isn't big money in writing books.
Most learn by losing money, most don't know how to program, most spend way too much time on entering the market, most don't keep stats, most information overload, most have no clue of what they want to achieve.
What you hope to achieve is losing concept of pain, brain tries to make market as logical entity, chart patterns often shows exactly as logically as possible what makes sense, price goes up-time to buy, price comes down-time to sell, brain is happy-no pain. But try to buy when market dropping like a rock, and one's breathing, blood pressure, anxiety attacks are ripping and brain is causing all of this as a way to tell you something is not logical, and even though brain has designed the Trading Plan based on stats from back testing, brain not happy when price not acting by what it sees.
I believe in anything that is written in Trading Plan must have stats to show why, if no stats, isn't added. I see way way too many traders who write journals either have none or not current stats on their systems, how can you tell how you doing? And account size means nothing. This alone, stats should keep you from day trading for at least a year, nothing wrong with spending couple years of study first before losing your account, if you can't be profitable 4 of 5 trading days each week in simulated=you are Bait.
Three groups of Trading, Entry, Money Management, Mental. And all three can be divided up into many sub classes. I often think "Mental" as time passes does get smaller as one's education increases. Entry is one of two ways, buying as price going up or buying as Price coming down. Money Management is one reason of before trade can be taken and many reasons of to the right of price. Mental=if you stay strict to having Trading Plan stats on all info going into Trading Plan, will have much less Mental problems than anyone else.
![150508 llIHeroic[5-8] NQ Walkthrough edge.png](/et/data/attachments/134/134596-d3fa4f7137a75bc09c5dc34044cfd8bd.jpg?hash=0_pPcTenW8)
