What would you say belongs in a solid trading plan?
https://elitetrader.com/et/threads/...solid-trading-plan.340340/page-4#post-5031706
What would you say belongs in a solid trading plan?
- Thread starter easymon1
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What would you say belongs in a solid trading plan?
https://elitetrader.com/et/threads/...solid-trading-plan.340340/page-4#post-5031706
One thing that you can’t forget to include in your trading plan is a clear definition of your trading goals. This includes both short-term and long-term objectives. You should take into account your financial resources, risk tolerance, and overall trading strategy. A well-defined set of goals will help you to stay focused and motivated as you trade, and will also give you a way to measure your progress and success.
You'll appreciate this. Hat's off to comagnum for his post.
https://www.elitetrader.com/et/thre...solid-trading-plan.340340/page-2#post-5011924
To that note. I would add you should list all the things you are NOT going to do. It should be pretty detailed and specific based on what you will do.
Often people have a plan and "add on" or make an exception and this the "untested weapon in battle" mistake.
The Error Log.
A written solid trading plan gives an error log specificity.
If an error recurs and tops the list of 'expenses' then action can easily follow toward the most costly errors, one by one. Write em down. Review em weekly. What gets measured gets done.