Stocks for Breakfast | Trading Plan Step-by-Step Template
Outlining Your Trading Plan | Step-by-Step Template
Follow this trading plan script and set big goals for 2021.
1)What is your edge? What is the concept you are trading that you feel will earn money?
2)How will you “prove” this concept with real money? (paper trading is a waste for discretionary traders other than learning how to use a software correctly)
3)How much money do you have personally? How much can you afford to lose or invest in your trading business? This includes capital to trade and living expenses.
4)How much risk can you afford to take on each trade, day, week and month?
5)How much money do you need to earn each year? Do you need to earn all of that from trading?
6)What if you don’t make enough from trading to live off of?
7)What are your contingency plans and how will know you need to implement them?