Am I on the right track?

[cookyweb]

Interesting stuff, I feel like I now have something to go at.

When people talk about a trading plan, what does that mean? What is a trading plan?

Thank you

[northbound]

When people talk about a trading plan, what does that mean? What is a trading plan?

To me personally it means:

1) Having a reason for entering the trade, for example "I will lay a big steamer if total market volume is still less than £50k". If your condition for entering the trade is not satisfied, just observe the market without getting involved.

2) The amount of money you're prepared to lose in the trade if it goes against you, for example "I will set a stop loss so that my maximum liability is £5".

3) Know that many trades will go against you and will lose you money. It's perfectly fine, as long as you don't chase these losses.

[Korattt]

Interesting stuff, I feel like I now have something to go at.

When people talk about a trading plan, what does that mean? What is a trading plan?

Thank you

I’ve two trading plans, one for steamers which is a totally rigid plan when it’s more than likely (to me obvious) that the price will contract & the other for drifters which is in general the same method with prices going out but not price dependant, if that makes sense?

[cookyweb]

Thanks for those replies, I see what you mean.

Korattt, that makes sense, do you
Just have those 2 trading plans or do you have lots of these for different situations?

[Korattt]

Thanks for those replies, I see what you mean.

Korattt, that makes sense, do you
Just have those 2 trading plans or do you have lots of these for different situations?

just the two, the price can only go up or down (or sideways).. but I don’t do sideways

[mobius]

A little light reading. Only 10,00(0) pages to go.
https://edition.cnn.com/2018/05/04/app- ... index.html
missed a zero