Your confidence in your actions should first be part of a solid business plan. Even if you have a very good trading plan, you will often break it if you are not sure of it. And to be sure of the trading plan, you need to register each action and repeat it many times on a demo account.
What would you say belongs in a solid trading plan?
- Thread starter easymon1
- Start date
https://www.elitetrader.com/et/threads/why-does-this-happen-please-help.360002/page-2#post-5417117
Tip of the Hat to Handle123
" . . . if you don't see a very clear entry, drop and look elsewhere,
don't get married to one instrument, have several others to check out.
Buy low on support risk is lower, sell short high on resistance.
Risk low, seek higher rewards.
Tip of the Hat to Handle123
" . . . if you don't see a very clear entry, drop and look elsewhere,
don't get married to one instrument, have several others to check out.
Buy low on support risk is lower, sell short high on resistance.
Risk low, seek higher rewards.
List of personal rules for trading that makes U successful
https://www.elitetrader.com/et/thre...s-for-trading-that-makes-u-successful.174550/
https://www.elitetrader.com/et/thre...s-for-trading-that-makes-u-successful.174550/
A Tip of the Hat to longandshort
for this Tool Tip.
Execution management system. It's like the order tool you use,
but will typically have a few more features
(custom routing, order management, etc.).
Elite Trader School - By longandshort
https://elitetrader.com/et/threads/elite-trader-school.360180/
Execution management system - Search - https://duckduckgo.com/?q=Execution+management+system&t=h_&ia=web
for this Tool Tip.
Execution management system. It's like the order tool you use,
but will typically have a few more features
(custom routing, order management, etc.).
Elite Trader School - By longandshort
https://elitetrader.com/et/threads/elite-trader-school.360180/
Execution management system - Search - https://duckduckgo.com/?q=Execution+management+system&t=h_&ia=web
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Trade Execution management system - Search - https://duckduckgo.com/?q=Trade+Execution+management+system&t=h_&ia=web
A Tip of the Hat to deaddog.
Entry, Stop, Exit.
Enter - at $100 and my
Stop - is $ 92. I have no target; only for the stock to move above 100 and keep moving up. I put a trend line below the lows and
Exit - when the price breaks the trend line I exit."
I enter at $100 and my stop is $ 92. I have no target; only for the stock to move above 100 and keep moving up. I put a trend line below the lows and when the price breaks the trend line I exit. I have no limit on how
much I can make. I have a limit on what I can lose.I don't need many trades a year that run to multiples of my risk to make a decent return. Cut losses and let winners run. I don't need many trades a year that run tomultiples of my risk to make a decent return. Cut losses and let winners run.
https://www.elitetrader.com/et/thre...ding-your-thoughts.360301/page-3#post-5423201
Simple Is Beautiful
Attachments
https://tradeciety.com/when-not-to-trade/
"Making Money By Sitting On Your Hands – 10 Situations When Not To Trade
1. When you have to think about the trade
2. When you don’t know where your stop goes
3. If the market does not favor your system
4. When you want to “catch up”
5. When you think that markets are “too high” or “too low”
6. If price has already moved away from the best entry – don’t chase!
7. When you haven’t done your analysis – when a trade is not in your plan
8. When you asked someone else for their opinion
9. When you focus on a performance goal
10. When you have personal, job or health-related issues"
"Making Money By Sitting On Your Hands – 10 Situations When Not To Trade
1. When you have to think about the trade
2. When you don’t know where your stop goes
3. If the market does not favor your system
4. When you want to “catch up”
5. When you think that markets are “too high” or “too low”
6. If price has already moved away from the best entry – don’t chase!
7. When you haven’t done your analysis – when a trade is not in your plan
8. When you asked someone else for their opinion
9. When you focus on a performance goal
10. When you have personal, job or health-related issues"
Rules that reduce need to think about decisions that have to be made quickly so things that make the strategy more linear and less subjective with clear setups that would be taken and ones that'd be rejected.
If possible have every common possible scenario with the strategy written to limit confusion.
^^
I feel like these are ignored somewhat the most everyone likes go on about fixed time to trade, trading size etc but never this really.
If possible have every common possible scenario with the strategy written to limit confusion.
^^
I feel like these are ignored somewhat the most everyone likes go on about fixed time to trade, trading size etc but never this really.
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3 and 5 is spot...