In this previous article, a lot was stated about the trading plan. What is the real thing about this trading plan?
The trading plan is what is designed before in-position. Before entering the position, we must design what to traverse.
Where is the Entry Price, how much Take Profit, Stop Loss, don't forget. And most importantly the Risk-Reward Ratio taken is 1: 2.
All this should be recorded in the trading plan. And when starting a trade, stick to this trading plan.
The aim is none other than to discipline oneself and avoid getting mixed up with setups.
Many traders ignore the trading plan and forget the proper setups, but when I ordered, I didn't know where everything was because there was no trading plan.
And for those who work full time, trade part-time, again this trading plan is very important.
The trading Plan that is made, depends on each creativity. Maybe you like the classic pen and paper or digitally using Excel.
What needs to be done is, note down any setups that you think are likely to be high profit starting from the big timeframes and then look at the price movement and note the important features.
If an opportunity arises, record the Entry Price, Take Profit, Stop Loss, and RRR.
Do this every morning and evening especially while looking at the chart.
Looks crunchy, right? But if you have no reason to be successful then you can do anything.
