Why do this? Trading is a challenging business and takes much time to study and learn individual markets and patterns that form within those markets. It also requires that we learn about ourselves to be successful in the business. It is a business where good may not be good enough. Therefore it is imperative that each trader planning on success be organized and willing to put in the extra mile to achieve that.
Doing some planning at the end of each year for the coming year is one of the best tools for the trader putting themselves onto a path of success. First you have a plan and map of what you should be doing. It will outline as many market events/situations as possible and what you do at those times. Trading is a business that requires effort and planning. Complacency is not a quality that will produce an excellent trader.
Take a Professional approach to trading, as a business, because it is a business. All really good traders take this approach. Very difficult to find weak and strong areas of trading if no records are kept. Would you feel comfortable paying a professional that operates on that level? Or a doctor that has not studied what they are doing or a surgeon?
You want to continue improving what you do well and either eliminate or systematically improve the weak areas.
You are where you are and to get to where you want to go, you must have a plan.
For more information on how to create a trade plan visit the Coaching section of our website at www.tradingliveonline.com
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