SUMMARY 12 of 12

by Kirk Norwood | Aug 21, 2009 | Create Trading Plan - Series, Trading Strategies, Trading Tips

1.  Vision of why you are trading and where you want to go.  Identify the strategies and tactics you will use.  A trading plan is a tool not just an exercise 2. Select the time you will trade, the time frames you will trade on (long or short term...

11. Get help from a trading expert. 11 of 12

by Kirk Norwood | Aug 19, 2009 | Create Trading Plan - Series, Trading Strategies, Trading Tips

Building and executing your trading action plan can take weeks or months. If you want to build and execute in half the time, without tedious manual effort, check out the instructions on how to write a trading plan from the instructions in launch Pad.  The...

10. Forecast the time to hit your target. 10 of 12

by Kirk Norwood | Aug 17, 2009 | Create Trading Plan - Series, Trading Strategies, Trading Tips

With your strategy in place, you can set time lines to hit those milestones on your way toward your target.  Track actual results against your plan so you can adjust your strategy as you go and measure your success.

9. Understand your numbers. 9 of 12

by Kirk Norwood | Aug 14, 2009 | Create Trading Plan - Series, Trading Strategies, Trading Tips

Look at the trade tracker, see where you were at on the first 20 trades (win-loss ration), then see how you have improved over the next few groupings of 20 trades.  Identify what your strengths were when you started and see what they are now.  Are your...

8. Plan and schedule review time. 8 of 12

by Kirk Norwood | Aug 12, 2009 | Create Trading Plan - Series, Trading Strategies, Trading Tips

The time for action is now! Create a trading calendar, including milestones, so you can take action and track your progress. Stick to your plan. Whatever it is that you have pledged to do, get it done! It's easy to get overwhelmed with a big task list so break it down...

7. Create a money management plan. 7 of 12

by Kirk Norwood | Aug 10, 2009 | Create Trading Plan - Series, Trading Strategies, Trading Tips

What is your Money Management plan and how do you plan on using it?  Most traders spend the bulk of their time hunting for new trades. However, focusing on your existing trade and looking for ways to get a larger "share of each trade (adding on to the...