Hello, friends! Let's talk about Trading plan today!
The basis of any action on the market is a well-designed trading plan (TP).
The basic rule is never trade without a plan, and when you have done TP, never break it.
Work without a plan leads to randomness and spontaneity of actions subject to emotions.đ đ»ââïž
ââBefore opening a position, you must determined :ââ
đposition opening price
đopen position size
đstop loss order
đtake profit order
đđ»That's necessary in order to determine the possible risk / win ratio.
ââA trading plan should uniquely determine the actions of a trader in two scenarios:
1. Price moves opposite the open position
2. Price moves towards an open position
âA trading plan is drawn up before a position is opened, when a trader is in a balanced emotional state and can adequately think.
â After opening a position, you should follow the trading plan very accurately and not allow yourself to make changes to it during the course of trading.
â After closing the position, an analysis of the results is carried out, the optimality of actions is evaluated, and conclusions are drawn for the future.
â Trading does not end when you close your position.
âYou must analyze it and learn from it.
â After closing a position, many players forget about it and start looking for the next deal.
âĄDon't miss the essential elements of the path to the level of a professional trader - analysis of the past and introspection.âĄ
Write down your trading plan. Write down the reasons for the exit and what you did right and what is wrong. You will receive a history of your transactions and thoughts in pictures. This journal will help you learn from past experiences and discover gaps in your thinking.
đȘđ»Don't forget about self-development!!!!đȘđ»
đIf my post was interesting for you, don't forget to put me like and write your thought!!!đ
Your Rocket BombđđŁ
The basis of any action on the market is a well-designed trading plan (TP).
The basic rule is never trade without a plan, and when you have done TP, never break it.
Work without a plan leads to randomness and spontaneity of actions subject to emotions.đ đ»ââïž
ââBefore opening a position, you must determined :ââ
đposition opening price
đopen position size
đstop loss order
đtake profit order
đđ»That's necessary in order to determine the possible risk / win ratio.
ââA trading plan should uniquely determine the actions of a trader in two scenarios:
1. Price moves opposite the open position
2. Price moves towards an open position
âA trading plan is drawn up before a position is opened, when a trader is in a balanced emotional state and can adequately think.
â After opening a position, you should follow the trading plan very accurately and not allow yourself to make changes to it during the course of trading.
â After closing the position, an analysis of the results is carried out, the optimality of actions is evaluated, and conclusions are drawn for the future.
â Trading does not end when you close your position.
âYou must analyze it and learn from it.
â After closing a position, many players forget about it and start looking for the next deal.
âĄDon't miss the essential elements of the path to the level of a professional trader - analysis of the past and introspection.âĄ
Write down your trading plan. Write down the reasons for the exit and what you did right and what is wrong. You will receive a history of your transactions and thoughts in pictures. This journal will help you learn from past experiences and discover gaps in your thinking.
đȘđ»Don't forget about self-development!!!!đȘđ»
đIf my post was interesting for you, don't forget to put me like and write your thought!!!đ
Your Rocket BombđđŁ
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