Today let's go over a trading plan in more detail. I have made an educational video on this before, and many have asked me to create a more in depth breakdown on this topic. So let's take a look at what topics to include in a trading plan.
First, what you should understand is there are no set guidelines of what exactly you should include in your trading plan. Most traders will have different approaches on this topic, and some will have similar ways of constructing it. What is important is this is something you will look at on a regular basis. You will add, remove, edit your plan so it is the most up to date with the information you want to include in. You should NOT however, just copy someone else’s trading plan, since it won't be applicable to you.
Below I have outlined the 6 main topics that I include in my trading plan, and I will go over each topic in more detail on what can be included in.
Personal Goals, Emotion/Mindset, Changes
Trading Checklist
Trading Quotes to reflect on
Trading Past experiences, mistakes, and lesson
Trade Enter Criteria
Trade Management
If you have any questions, feel free to let me know :)