In previous articles, much is said about the trading plan. What exactly is this trading plan?
Trading Plan is what is planned before in-position. Before entering the position we must plan what to trade.
Entry Price where, Take Profit how much, StopLoss do not forget. And most importantly the Risk-Reward Ratio taken is 1: 2.
All this must be recorded in the trading plan. And when starting a trade, follow this trading plan.
The purpose is nothing but to discipline oneself and avoid being mixed up in the setup.
Many traders ignore the trading plan and forget the set-ups that should be, but when ordering, do not know where to place everything because there is no trading plan.
And for those who work full time, trade part-time, again this trading plan is very important.
Trading Plan made, depending on the creativity of each. Maybe you like the classic pen and paper or digitally using Excel.
All you have to do is write down each setup that you feel is likely to be a high profit starting from a large timeframe then look at the price movement and record the important levels.
When you see an opportunity, record Entry Price, Take Profit, StopLoss, and RRR.
Do this every morning and evening especially while looking at the chart.
Looks crisp right? But when you have no reason to succeed then you are willing to do anything.
