24 The Trader’s Business Plan
Who Gets to the World Series—the Team with a Plan or the Team That Decides to Wing It?
Why Am I Trading Again This Year?
Happy Wife, Happy Life
What Markets Am I Going to Trade?
Why These Markets? What Specific Trading Strategies Am I Going to Use?
How Much Money Am I Going to Allocate to Each Trading Strategy and Setup?
What Execution Methods Will I Be Using? What Parameters?
How Am I Going to Track and Rank My Trades?
What Are My Drawdown Rules?
What Are My Profit Rules?
What Is My Office Setup Going to Be Like?
What Are My Rewards If My Trading Is Going Well?
Are There Any Groups, People, or Organizations I’d Like to Help Out This Year?
What Are My Specific Plans for Staying “On Plan” Throughout the Year?
What Am I Doing About My Physical Health?
Concluding Thoughts on My Plan
A Sample Plan from a Beginning Trader
Summing Up the Trading Plan
24 The Trader’s Business Plan
Who Gets to the World Series—the Team with a Plan or the Team That Decides to Wing It?
Why Am I Trading Again This Year?
Happy Wife, Happy Life
What Markets Am I Going to Trade?
Why These Markets? What Specific Trading Strategies Am I Going to Use?
How Much Money Am I Going to Allocate to Each Trading Strategy and Setup?