Create a Trading Plan
Let’s make this the year that you become the trader you want to be!
In order to do this, you must first create a trading plan with defined risk management parameters, trading setups and strategies, and even a way to track your work. If you don't know where to start, our Founder John Carter has built a trading plan template for you! It's the guide that he uses and updates each year to keep his trading on track. And it's absolutely free!
To figure out which trading strategies fit your personality and trading goals, it helps to see examples of trading plans. You will find actual plans for each of our veteran trading mentors in their trader profiles - including John Carter.
Here is what to include in a trading plan:
- Why are you trading?
- What are your goals?
- What time-frames will you trade? I.e., multi-day swing trades, intraday swing trades, etc.
- Which setups will you trade? What strategies will help you stick to these setups?
- Entry/exit rules that you will follow once in a trade
- Risk management rules
Check it out... it's all in the template!
Bottom line, your plan is uniquely yours. It's a living document, and it should grow and develop as you progress as a trader.
If you have a plan in place and want to expand it - or if you're creating a new plan altogether - working alongside veteran traders in live trading rooms is the way to do it. We have a variety of courses and chatrooms, depending on your style and needs. Our Options Gold is where it all started and our most popular. Join us!