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Trading Plan
- Thread starter mikolo
- Start date
a trading plan is in my opinion a very individual thing and the most important element of trading. And it is part of trading that the trading plan has always to be adjusted.
In a trading plan there could even be elements such as the time you wake up in the morning. How much time you need to prepeare yourself before the markets open, etc...
money management, worst case, max drawdown per week, what to do when you are sick... etc.
It will take you some time to develop a working plan.. this is not something you can do over night.
To give you an idea.. in a good hedge fund there is always a highly worked out trading plan that has all the details included. Just to mention how all the different risks are handled that are involved in trading. (human, market, fundamental, systematical, etc...).
this is an example of a trading plan...
http://www.elitetrader.com/vb/showthread.php?s=&threadid=5329&postid=104235#post104235
In a trading plan there could even be elements such as the time you wake up in the morning. How much time you need to prepeare yourself before the markets open, etc...
money management, worst case, max drawdown per week, what to do when you are sick... etc.
It will take you some time to develop a working plan.. this is not something you can do over night.
To give you an idea.. in a good hedge fund there is always a highly worked out trading plan that has all the details included. Just to mention how all the different risks are handled that are involved in trading. (human, market, fundamental, systematical, etc...).
this is an example of a trading plan...
http://www.elitetrader.com/vb/showthread.php?s=&threadid=5329&postid=104235#post104235