🌎 What 90% of successful traders do!
And after this email, you´ll know it too.
Hello traders! 📈
Did you know that 90% of successful traders have a well-defined trading plan?
Yet, many new traders overlook this crucial step.
Today, we'll explore how to create a trading plan that could be your key to consistent profitability.
By the end of this newsletter, you'll understand what a trading plan is and be able to create your own, tailored to your unique circumstances and goals.
Think about your recent trades.
- What worked?
- What didn't?
These experiences will be valuable as we construct your plan.
A trading plan is your roadmap in the markets.
It typically includes:
- Your goals and risk tolerance
- The markets and timeframes you'll trade
- Your entry and exit criteria
- Position sizing and risk management rules
To create your plan:
A) Define your goals (e.g., monthly profit target)
B) Assess your risk tolerance
C) Choose your markets and trading style
D) Develop your trading strategy
E) Establish risk management rules
Remember, your plan should be specific to you.
For example, if you're trading with limited capital, your risk per trade might be lower than that of someone with more funds. Adjust accordingly.
Take a moment now to jot down your trading goals and risk tolerance.
These will form the foundation of your plan.
Your initial plan doesn't need to be perfect.
It's a living document that you'll refine over time.
The key is to start and be consistent.
After creating your plan, test it in a demo account.
Track your results to see if you're meeting your goals and following your rules consistently.
Review your plan regularly, especially after significant market changes or personal circumstances.
Apply it to different market conditions to ensure its robustness.
Remember, a trading plan isn't just a document—it's a commitment to disciplined, systematic trading.
By creating and following a solid plan, you're taking a crucial step toward becoming a successful trader, regardless of your starting capital.
In this case, if capital is your problem with Global Prop Trading, you have the possibility of no longer having it.
Join our funding program and start earning the profits of your dream!
To Your Trading Success,
Casey Stubbs
P.S. If you want to hop in, use this code, TSG20, and get a discount.
If you want to get some additional training from me and love books, here is a review I just got from my book.
You might want to check it out.
