This post provides an outline of an approach you can use to write a trading plan and a guide to how you might go about writing your own plan in order to achieve the objectives you have set. It is based on a trend following approach, primarily using technical analysis, but this does not determine the outline. If you wish to use a different overall strategy then you would only need to alter the language in a few places for … Continue reading →
The over-riding objective of a trading plan is to help you to become and remain one of the small minority of traders that are successful over the longer term. But most private traders do not have a written trading plan and a way to ensure they follow their plan. And most traders lose money: it is estimated that up to 90% of new traders lose money in the first year with the majority giving up soon afterwards. These are proven, … Continue reading →
If you were pushed, what would you say is the single characteristic that gives successful traders their edge? The search to identify the key to successful trading has driven many writers and researchers. Among the most notable of the resulting books are the ‘Wizards’ series by Jack Schwager. And the answer they found? The key to successful trading is to be consistent in what you do. Consistency: the Key to Successful Trading Notice the importance of this finding. There … Continue reading →
