In the science of management, planning is the most important step of the process a series of activities, as the one specified in the planning objectives to be achieved, activities to be undertaken to achieve these objectives, the resources will be used and who is responsible for activities in the achievement of these objectives .
Trading activities in this case can not be separated from these rules. Creating a trading plan is a step that is absolutely necessary for your trading activities. Hell yes ... you are able to trade without a trading plan ngasal alias. But without planning / planning which clearly is guaranteed trading you will be in shambles aka untidy. Hehehe ... Lah, if something has been started with ngasal and run with untidy, what can be expected from the end of the process?
Ok, now if you already have a trading plan, it means you've made the right step towards a successful trader. Your task is now just run your trading plan. But if today you do not have a trading plan, this is the time you leave the trading style of your untidy. Let's start making a trading plan and trading with more mature planning so that your trading activities will be more focused, more effective, more efficient and more rational.
Well, the question now is:
how and what needs to be determined in making a trading plan?
Uh, briefly ... before making a trading plan, there is one thing that I think you should keep in your mind: a trading plan should not be seen as complicated and cumbersome and not made to complicate your trading. The principle of 'keep it simple' remains valid in making trading plan. Because of that I feel anyway ... if anything it has been suggested or seen as a complicated thing, eventually not be familiar but instead will be shunned.
So, the form and format of the trading plan, adjust it to your taste. If you prefer something simple, yes bikinlah simple trading plan. If you love something complex, yes no problem ... bikinlah trading plan is more detailed and complex. Or maybe you like customizing figures, yes wear Excel spreadsheet, for example, to help you create a trading plan. The point is, enjoy every stage in the trade, as well as in the manufacture of this trading plan.
Ok, now we're talking about the things that need to be specified in the trading plan:
The purpose of your trading. Begin with the end in mind. Set goals, the resources you have is going to be more focused in achieving that goal. In this case, set your trading goals. For example: "I will earn regular income per week for $ 500 'or' I'm going to buy a new car itself when my birthday to 19 later" or "I'm going to go Umrah next year with my parents." Whatever it is, the most important are: the purpose and spirit can inspire you in trading.
Trading system. Trading system is the core of a trading plan. Without trading system, trading plan then you will only be apparent merely wishful thinking. Hehehe ... Anyway, it should be noted that the trading system to be used should be no trading system that has been proven reliable and able to run. Yes of course, previously you had to master the technical matters related to your system and have tested it first with a demo account. In this trading system you should specify the following: that you follow the benchmark for entry and when you get out of the market, the size of the stop loss, the target pips, margin management, maximum drawdown and risk limits that can be tolerated.
Waktu.Trading term plan should be made periodically for a certain period. You can start with a relatively short period of time, such as making a daily trading plan for 1 month.
When trading. Set your trading time according to your circumstances. For example: 'I will be trading in the European session' or 'I will be trading at 16.00 s / d 17:30 and 21:00 s / d 23:00 pm'. Determination of the time of this trade you have to do so that your trading activities do not interfere with other activities of daily routine.
Evaluation and improvement. Because trading plan made periodically, then the evaluation of a trading plan that has you run very necessary as input for the next trading plan so that you will not repeat the same mistakes in the future.
Well, if it goes wrong plannya trading, you just run the task is a disciplined trading plan and without feeling. Eh? anyway without feeling anyway? Hihihi ... without emotion, that is ... My mentor always says: "Be like a wall when trading". That bertradinglah without emotion, as well as mentally solid. Um ... if my version anyway, I add again with: "Enjoy every process in the trade".
