We're your best review guide

How to make a trader's trading plan?

How to make a trader Johannes Röll Visitors: 226 ★★★★

 

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:

Monthly charts; 
annual charts; 
long-term. 
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:

be disciplined; 
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
Johannes Röll

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

Comments 0

Recent Projects

How to make a trader's trading plan?

EUR/USD soars amid rumors of an ECB rate hike by 0.5%

While the EUR/USD pair showed a short-term bearish profile early in the morning as part of a correction after yesterday's testing at 1.0200, it then showed a sudden sharp increase, reaching a maximum at the moment at 1.0250.

How to make a trader's trading plan?

Oil price in London - Brent

On the electronic platform of the European futures market ICE (Intercontinental Exchange), symbolically located in London, spot transactions are conducted daily, in particular, for Brent oil from the North Sea (spot market) or in the form of forward contracts (futures) for 1000 barrels of Brent oil with a maturity of 3 months, 1 year or 2 years.

How to make a trader's trading plan?

"Futures" are financial instruments used to predict future changes in the underlying asset

"Futures" are financial instruments used to predict future changes in the underlying asset (stocks, stock index, etc.): You buy or sell a certain amount of this underlying asset at maturity and at a predetermined price. But futures are very risky speculative products.

How to make a trader's trading plan?

Gh0stly Gh0sts-the first omnichain NFT collection

In recent days, the premiere of the unique collection NFT: gh0stly gh0sts. Although there is little interest in the project at the moment (the Twitter profile @gh0stlygh0sts is watched by less than 12,000 people), it can already be said that this is something groundbreaking.

How to make a trader's trading plan?

What is a factoring contract and what elements should I pay attention to?

Factoring is a financial service that few people have heard of until recently, but now it is gaining popularity among entrepreneurs every year. This is one of the most effective ways to maintain the financial liquidity of the company and ensure its free access to capital.

How to make a trader's trading plan?

This article, first of all, will be useful for beginners in the Forex market.

Many newcomers ask such questions: "How to start trading on the Forex currency market, where to do it, the first steps in trading" and other similar questions.