Trading plans are as varied as people's own individual personalities! I have included a few sample plans in the link below which were created by former students. The major function and feature of your own personal trading plan is that it creates YOUR daily guide to maintain your FEDS: focus, energy, deliberation and stamina throughout your daily trading time. I have mentioned previously and probably will again: the amount of time devoted to your daily trading SHOULD BE LIMITED. You should use the best time of day to trade instruments, entities you have carefully chosen. Learn the best time and show up. If it is the middle of your nite, do it! If no high probability setups appear to you, do not trade. I trade two hours a day, myself.
Traders do not want to miss a beat, but certain "heartbeats" are easy to miss in the heat of battle. And, battle it is! Trading is battling like chariot racers of centuries ago. After all, the basic traders' handbook is the, "Art of War," by Sun Tzu, written 2500 years ago. If you have not yet read it, do it. Just get yourself a copy of the book and rapidly skim though it on the first read. Then, come back a month later and read it more slowly. Then, in the following quarter, analyze it; tear it a part, dissect it; outline it; boil it down into a cook book recipe of YOUR trading. Learn to "think" like a warrior! Warriors die! We all die! Losing too much of your trading capital is like dying!
After you've invested yourself into developing your trading plan, go back and revise it. You probably do not want to spend too much time developing your plan until you have invested at least 120 days into your trading development education. You should consider yourself tardy if you don't have a useable plan by your 9th month. Writing this, I realize it's time for me to revise my trading plan which is on, perhaps, the 20th revision.
Click to download a few sample Trading Plans.
