How to make a trader's trading plan?Johannes Röll 12 / February / 20 Visitors: 11
How to make a trader's trading plan?
To successfully implement a strategy on the Tradeswomen trading platform, you need a correctly drawn up trading plan of a trader. Having such a plan at hand, a player, even a beginner, will feel comfortable and will not give in to panic even in case of unforeseen problems. It can be both complex and simple, depending on the desire of the creator, but it is best to stop at the optimal option, which will not take much time and will be effective. The main thing is that the plan is dynamic and you can change it as you learn (not during a session). A ready-made trading plan will significantly increase the productivity of your trading, add objectivity, reduce emotionality and spontaneity, and you will be more selective in approaching trades.
How to create a trader's trading plan?
First you need to understand for yourself why you have decided to devote your time to trading. This profession is complex, requires flexibility and a high level of education. If the difficulties are not terrible for you. And you are determined to succeed in this field and make good money, then get ready to study various trading instruments, make plans and overcome difficulties. The second stage - market analysis, the data about which will help you to clearly see the situation that is currently happening in the market, as well as determine the direction of the trend. This is necessary to feel the point of entry into the market. To achieve this goal, you can use daily and weekly charts. Depending on what tasks the trader has set himself and how long it will take to complete it, there are different plans:
Content of the trading plan
The plan can be divided into two stages: pre-market and post-market. On the first stage, a player opens his trading terminal at tradershome.com, downloading the charts of the toolkit he is working with. At first, it is very important to know the market situation in detail. There are a lot of sources that contain valuable information, including economic calendars, news, special trading forums, sites with statistics, etc. Along with useful data, you need to explore the possibility of entering the market. The second stage marks a certain result of trading, which shows how successful it was and what mistakes were made by the trader. It is best to start a log, where all these points will be carefully recorded to make further amendments and improve your plan. At this stage, the trader also builds a trading tactic for the next day, inspecting open trades and thinking about possible actions. If you have any thoughts or ideas to improve your trading efficiency, we recommend you to write them down. And the final chord is closing of the terminal.
The rules of success
There are several rules, following which a trader can increase his confidence in trading success. This is what you should do:
work on yourself;
not be afraid to make mistakes, as they will help to improve the strategy in the future;
not to let your emotions take control;
trust the signals of your trading system;
keep a log;
trade in a trend;
believe in yourself and be patient.
Johannes Röll was born 1978 in Brilon,Germany. Graduated RWTH Aachen University. Over the past ten years he worked as Head of the plastic card team, where he was mainly responsible for the development of the distribution, Head of sales Department and Financial Analyst,where he got experience in planning and support sales figures for branches. For the present he works as freelancer