Trading plans

[julianj]

Hi Everybody,

given that the current situation is making it difficult to trade, might we post our trading plans and help each other critique and improve them?

I don't really have anything useful to post in this category so it would be helpful to find out about other people's plans

thanks

Julian

[raa]

Hmm I am not ready to share the methodology I use now publicly, because it is still very rough and require perfection, but it is no-stoploss hedging technique (initial thoughts about which I have explained before). So far it made more than the floating loss is, and most of it from panicly selling Yen last week during the selloff. But as it looks Yen is turning down I am confident I will cover it sooner or later. However, if all in all my methodoly will prove successfull, and I would be able to systematize and formalize it, I will happily share it. But, the most important point of it, its point is not maximazing revenues but maximizing piece of mind. You afraid no gaps, no spikes, and heart is not racing...

[julianj]

Yes please, do share it when you are happy with the method. I look forward to it.

Have a nice weekend,

julian

[Jason Mraz]

Hello,
In order to make the best trading decision one has to plan for the trade. Planning the trade does not have to be complex, but it must take into consideration the risk tolerance and trading goals.


Thanks
Jason Mraz

[germantud]

Yes, planing is very good thing, and probably it will be good to use all possible methods that you have, planing, experts, signals etc..

[Stephen Mark]

A trader’s business plan is known as a trading plan – it defines her approach to trading. A properly constructed trading system will leave no room for human judgement because it will define your plan, given any circumstances that may arise. It is a distinct set of rules that will instruct the trader what should be done and when to do it. A trading plan is simply a set of rules that addresses every aspect of a trade such as entry and exit conditions and money management. Regardless of how complex it may be, a good test for your trading plan is to hand it to someone else to read thoroughly and then see if they have any questions about it.

If they can easily understand all the rules and requirements of your strategy with little to no questions, then you have compiled a sound trading plan.

Thanks and Regards.
Stephen

[capsmart]

Hi Stephen
And welcome to the forum.
Are you a fan of David? This is an exact copy paste from his site.